Wealth Enhancement Advisory Services LLC Invests $266,000 in Zillow Group, Inc. (NASDAQ:ZG)

Wealth Enhancement Advisory Services LLC purchased a new position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,756 shares of the technology company's stock, valued at approximately $266,000.

A number of other large investors also recently bought and sold shares of the business. Vontobel Holding Ltd. lifted its holdings in Zillow Group by 4.9% during the fourth quarter. Vontobel Holding Ltd. now owns 17,208 shares of the technology company's stock valued at $1,219,000 after purchasing an additional 801 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of Zillow Group during the 4th quarter worth about $1,265,000. Allworth Financial LP lifted its stake in Zillow Group by 585.5% in the 4th quarter. Allworth Financial LP now owns 3,112 shares of the technology company's stock valued at $237,000 after buying an additional 2,658 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Zillow Group by 0.6% in the 4th quarter. Baillie Gifford & Co. now owns 92,025 shares of the technology company's stock worth $6,520,000 after buying an additional 509 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in Zillow Group by 67.9% in the 4th quarter. Truist Financial Corp now owns 6,196 shares of the technology company's stock worth $439,000 after buying an additional 2,506 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company's stock.

Insider Activity

In related news, insider Errol G. Samuelson sold 2,854 shares of Zillow Group stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the completion of the transaction, the insider now owns 142,636 shares in the company, valued at $10,460,924.24. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer Rock sold 5,997 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $68.06, for a total transaction of $408,155.82. Following the transaction, the chief accounting officer now owns 58,320 shares of the company's stock, valued at approximately $3,969,259.20. The trade was a 9.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,947 shares of company stock valued at $7,199,000. 17.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ZG. William Blair initiated coverage on shares of Zillow Group in a report on Monday, April 21st. They set a "market perform" rating for the company. The Goldman Sachs Group dropped their price objective on shares of Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. DA Davidson decreased their target price on shares of Zillow Group from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target (down previously from $100.00) on shares of Zillow Group in a report on Thursday, May 8th. Finally, Canaccord Genuity Group reduced their price objective on Zillow Group from $86.00 to $76.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Zillow Group has a consensus rating of "Moderate Buy" and a consensus price target of $81.80.

Zillow Group Stock Down 0.6%

NASDAQ:ZG traded down $0.39 during trading hours on Thursday, reaching $65.96. 555,022 shares of the stock were exchanged, compared to its average volume of 558,172. Zillow Group, Inc. has a twelve month low of $40.30 and a twelve month high of $86.58. The business has a 50-day moving average of $66.01 and a two-hundred day moving average of $70.91. The company has a market capitalization of $15.93 billion, a price-to-earnings ratio of -194.00, a PEG ratio of 12.26 and a beta of 2.11.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.06). Zillow Group had a negative net margin of 3.51% and a negative return on equity of 1.62%. The firm had revenue of $598.00 million during the quarter, compared to analysts' expectations of $587.88 million. During the same quarter in the prior year, the firm posted $0.36 EPS. Zillow Group's quarterly revenue was up 13.0% compared to the same quarter last year. On average, research analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Zillow Group Profile

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.