Vanguard Group Inc. Sells 406,321 Shares of Zillow Group, Inc. $ZG

Vanguard Group Inc. lowered its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,068,473 shares of the technology company’s stock after selling 406,321 shares during the quarter. Vanguard Group Inc. owned 2.92% of Zillow Group worth $526,177,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Zillow Group during the 2nd quarter valued at $159,770,000. Millennium Management LLC raised its holdings in shares of Zillow Group by 110.8% in the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after acquiring an additional 152,955 shares in the last quarter. Bank of America Corp DE lifted its stake in Zillow Group by 19.3% in the second quarter. Bank of America Corp DE now owns 173,222 shares of the technology company’s stock worth $11,864,000 after acquiring an additional 28,032 shares during the period. California Public Employees Retirement System grew its holdings in Zillow Group by 7.2% during the 2nd quarter. California Public Employees Retirement System now owns 138,467 shares of the technology company’s stock worth $9,484,000 after acquiring an additional 9,322 shares in the last quarter. Finally, Barrier Capital Management LLC increased its position in Zillow Group by 59.9% during the 2nd quarter. Barrier Capital Management LLC now owns 123,743 shares of the technology company’s stock valued at $8,475,000 after purchasing an additional 46,360 shares during the period. 20.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ZG shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zillow Group in a research report on Monday, December 15th. Barclays decreased their price objective on Zillow Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. Canaccord Genuity Group set a $72.00 price target on Zillow Group in a research report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Finally, UBS Group set a $80.00 price objective on shares of Zillow Group in a research note on Wednesday, February 11th. Fourteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and a consensus target price of $78.05.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $43.84 on Wednesday. The stock has a market cap of $10.52 billion, a P/E ratio of 487.17, a price-to-earnings-growth ratio of 2.39 and a beta of 2.04. Zillow Group, Inc. has a 52-week low of $41.90 and a 52-week high of $90.22. The firm has a 50 day moving average price of $61.05 and a two-hundred day moving average price of $70.03.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The business had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. Analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO David A. Beitel sold 3,966 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $44.22, for a total value of $175,376.52. Following the transaction, the chief technology officer owned 136,690 shares in the company, valued at approximately $6,044,431.80. This trade represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dan Spaulding sold 5,361 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.95, for a total value of $235,615.95. Following the sale, the insider owned 41,080 shares of the company’s stock, valued at $1,805,466. This represents a 11.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,007 shares of company stock worth $2,771,433 over the last 90 days. 17.14% of the stock is owned by corporate insiders.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.