Tybourne Capital Management HK Ltd. Sells 858,285 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Tybourne Capital Management HK Ltd. decreased its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 95.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,953 shares of the technology company’s stock after selling 858,285 shares during the period. Zillow Group accounts for 0.7% of Tybourne Capital Management HK Ltd.’s portfolio, making the stock its 17th largest position. Tybourne Capital Management HK Ltd.’s holdings in Zillow Group were worth $2,536,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ZG. Dimensional Fund Advisors LP boosted its stake in Zillow Group by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock worth $19,901,000 after purchasing an additional 35,503 shares in the last quarter. Selkirk Management LLC lifted its stake in shares of Zillow Group by 37.4% in the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock worth $14,449,000 after buying an additional 87,300 shares in the last quarter. US Bancorp DE grew its holdings in shares of Zillow Group by 6.5% during the third quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock valued at $18,444,000 after buying an additional 18,136 shares during the last quarter. Cynosure Group LLC purchased a new stake in shares of Zillow Group during the third quarter valued at approximately $12,248,000. Finally, Raymond James & Associates increased its position in shares of Zillow Group by 7.0% during the second quarter. Raymond James & Associates now owns 193,023 shares of the technology company’s stock valued at $8,694,000 after acquiring an additional 12,616 shares in the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Erik C. Blachford sold 1,413 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $54.87, for a total value of $77,531.31. Following the transaction, the director now directly owns 35,403 shares in the company, valued at $1,942,562.61. The trade was a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 7,175 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $85.36, for a total value of $612,458.00. Following the completion of the transaction, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at approximately $8,481,540.32. This trade represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,439 shares of company stock valued at $11,576,823. 17.14% of the stock is owned by corporate insiders.

Zillow Group Price Performance

NASDAQ:ZG opened at $82.33 on Thursday. Zillow Group, Inc. has a one year low of $38.06 and a one year high of $83.25. The business has a fifty day moving average price of $64.50 and a 200-day moving average price of $53.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The business had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $555.45 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Analysts anticipate that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price objective (up from $62.00) on shares of Zillow Group in a research report on Thursday, November 7th. Royal Bank of Canada increased their price objective on Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI boosted their target price on Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Susquehanna raised their price target on shares of Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group lifted their price target on shares of Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.65.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.