CreativeOne Wealth LLC Increases Stake in Zillow Group, Inc.

CreativeOne Wealth LLC reported a significant increase in its investment in Zillow Group, Inc. (NASDAQ:ZG - Free Report), raising its stake by 164.4% during the third quarter. Following this increase, the institutional investor now holds 179,700 shares of Zillow Group, having added 111,743 shares over the quarter. According to their recent filing with the Securities and Exchange Commission (SEC), CreativeOne's holdings represent approximately 0.08% of Zillow Group's total shares, valued at around $11,129,000.

Several other institutional investors have also adjusted their positions in Zillow Group recently. Dimensional Fund Advisors LP increased its stake by 8.7% in the second quarter, now owning 441,800 shares valued at $19,901,000 after acquiring an additional 35,503 shares. Similarly, Selkirk Management LLC raised its position by 37.4%, holding 320,800 shares worth $14,449,000 after purchasing 87,300 shares. US Bancorp DE increased its holdings by 6.5%, bringing its total to 297,819 shares valued at $18,444,000 following an additional purchase of 18,136 shares. Cynosure Group LLC made a new investment during the third quarter worth about $12,248,000. Lastly, Raymond James & Associates enhanced their stake in Zillow by 7.0%, currently owning 193,023 shares valued at $8,694,000 after buying 12,616 additional shares.

Zillow Group's Market Performance

On Wednesday, Zillow Group's stock opened at $81.87. The company's 50-day moving average stands at $64.08, while the 200-day moving average is at $53.16. Zillow Group's financial health includes a debt-to-equity ratio of 0.11, with a current ratio and quick ratio both at 3.13. Zillow has a market capitalization of $19.12 billion, a P/E ratio of -143.63, and a beta of 2.02. Over the past year, Zillow's stock has seen a low of $38.06 and a high of $83.25.

Recent Earnings Report

On November 6th, Zillow Group announced its latest quarterly earnings, reporting earnings per share (EPS) of $0.35, exceeding analysts' expectations of $0.32. The company experienced a negative net margin of 6.17% and a negative return on equity of 2.33%. Their total revenue for the quarter was $581.00 million, surpassing the forecast of $555.45 million. This marks a 17.1% increase in revenue compared to the same quarter last year. Analysts expect that for the current fiscal year, Zillow Group will post an EPS of -0.33.

Insider Trading Activity

In conjunction with these developments, insider selling was noted, with Errol G. Samuelson selling 17,000 shares on November 19th for an average price of $73.57, totaling $1,250,690. Following this sale, he retains 22,739 shares valued at approximately $1,672,908. This sale indicates a 42.78% reduction in his holdings. Another insider, Susan Daimler, sold 3,484 shares on September 10th, amounting to $188,763.12 at an average price of $54.18, bringing her ownership down by 13.43% to 22,464 shares valued at $1,217,099.52. Information regarding these transactions is available through SEC filings. In the previous quarter, insiders collectively sold 153,264 shares of the company's stock, valued at $10,964,365. Corporate insiders own approximately 17.14% of Zillow Group's shares.

Analyst Recommendations

A range of financial analysts has provided their forecasts for Zillow Group. UBS Group recently raised its target price for Zillow from $70.00 to $80.00, maintaining a "buy" rating. Piper Sandler echoed a positive outlook, reestablishing an "overweight" rating and setting a new price target of $73.00 up from $62.00. Canaccord Genuity Group upped its target from $56.00 to $64.00 with a "hold" recommendation. Susquehanna also increased its target price from $55.00 to $75.00, giving a "neutral" rating. Additionally, The Goldman Sachs Group raised its target from $42.00 to $47.00 while keeping a "neutral" stance. Overall, Zillow Group has received one sell rating, five hold ratings, and twelve buy ratings. The average rating is categorized as a "Moderate Buy" with a projected price target of $68.18.

About Zillow Group

Zillow Group, Inc. operates through various real estate brands, focusing on mobile applications and websites across the United States. The company provides marketplaces for premier agents and rentals, new construction, as well as business technology solutions including advertising services. Furthermore, it offers services in mortgage originations and transactions, as well as title and escrow services, enhancing its comprehensive presence in the real estate sector.

Zillow, Investment, Stocks