Geode Capital Management LLC Reduces Holdings in Zillow Group, Inc. $ZG

Geode Capital Management LLC decreased its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 1.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,050,820 shares of the technology company’s stock after selling 18,836 shares during the period. Geode Capital Management LLC owned approximately 0.43% of Zillow Group worth $71,697,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ZG. M&T Bank Corp grew its stake in shares of Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares during the last quarter. UBS Group AG grew its stake in shares of Zillow Group by 44.5% during the fourth quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock worth $69,489,000 after acquiring an additional 313,643 shares during the last quarter. Virtu Financial LLC boosted its position in Zillow Group by 271.9% in the third quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock valued at $21,864,000 after buying an additional 214,743 shares during the last quarter. Wellington Management Group LLP boosted its position in Zillow Group by 60.1% in the third quarter. Wellington Management Group LLP now owns 557,735 shares of the technology company’s stock valued at $41,518,000 after buying an additional 209,312 shares during the last quarter. Finally, Millennium Management LLC boosted its position in 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 buying an additional 152,955 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Trading Down 1.8%

Zillow Group stock opened at $34.77 on Tuesday. The firm has a market cap of $7.96 billion, a PE ratio of 139.08, a P/E/G ratio of 1.51 and a beta of 1.95. The stock’s 50 day simple moving average is $40.49 and its two-hundred day simple moving average is $52.65. Zillow Group, Inc. has a 12 month low of $34.50 and a 12 month high of $90.22.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. On average, equities research analysts forecast that Zillow Group, Inc. will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ZG shares. Wells Fargo & Company dropped their target price on Zillow Group from $60.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Robert W. Baird dropped their target price on Zillow Group from $67.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Cantor Fitzgerald dropped their target price on Zillow Group from $56.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. DA Davidson set a $75.00 target price on Zillow Group in a research report on Thursday, February 12th. Finally, KeyCorp lowered their price objective on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Thirteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Zillow Group currently has an average rating of “Hold” and an average target price of $71.24.

Insider Buying and Selling at Zillow Group

In other news, insider Errol G. Samuelson sold 2,939 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $37.97, for a total transaction of $111,593.83. Following the completion of the transaction, the insider directly owned 134,039 shares of the company’s stock, valued at $5,089,460.83. This represents a 2.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,078 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the transaction, the insider directly owned 49,696 shares of the company’s stock, valued at approximately $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 42,119 shares of company stock worth $1,578,206. 29.88% of the stock is currently owned by corporate insiders.

Zillow Group Profile

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.