Zillow Group, Inc. $ZG Shares Sold by Amundi

Key Points

• Amundi has reduced its stake in Zillow Group, Inc. by 8.7%, leaving it with 57,536 shares valued at approximately $3.85 million as of the latest SEC filing.
• Zillow Group reported earnings per share of $0.40, falling short of analyst expectations, and experienced a 14.5% increase in revenue compared to the same quarter last year.
• Several institutional investors have adjusted their holdings in Zillow Group, with notable increases and new stakes being acquired in the first quarter of this year.

Amundi lessened its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,536 shares of the technology company's stock after selling 5,488 shares during the period. Amundi's holdings in Zillow Group were worth $3,847,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Driehaus Capital Management LLC purchased a new stake in Zillow Group during the 1st quarter worth approximately $9,998,000. Trexquant Investment LP purchased a new stake in Zillow Group during the 1st quarter worth approximately $370,000. D L Carlson Investment Group Inc. purchased a new stake in Zillow Group during the 1st quarter worth approximately $3,052,000. Ieq Capital LLC grew its position in Zillow Group by 3.6% during the 1st quarter. Ieq Capital LLC now owns 12,560 shares of the technology company's stock worth $840,000 after purchasing an additional 437 shares during the last quarter. Finally, Independent Franchise Partners LLP grew its position in Zillow Group by 1.8% during the 1st quarter. Independent Franchise Partners LLP now owns 2,060,399 shares of the technology company's stock worth $137,758,000 after purchasing an additional 36,046 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company's stock.

Zillow Group Stock Performance

NASDAQ ZG traded down $1.41 during mid-day trading on Friday, reaching $84.34. 436,576 shares of the stock were exchanged, compared to its average volume of 506,804. The business's 50 day moving average is $78.98 and its 200-day moving average is $71.32. Zillow Group, Inc. has a 1 year low of $55.08 and a 1 year high of $88.45. The company has a market capitalization of $20.43 billion, a P/E ratio of -324.38, a P/E/G ratio of 8.99 and a beta of 2.02.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The firm had revenue of $655.00 million for the quarter, compared to analysts' expectations of $647.06 million. During the same period last year, the company posted $0.39 earnings per share. The business's quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on ZG shares. Piper Sandler boosted their target price on shares of Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Wells Fargo & Company dropped their price objective on shares of Zillow Group from $75.00 to $73.00 and set an "equal weight" rating on the stock in a report on Thursday. Evercore ISI upped their price objective on shares of Zillow Group from $90.00 to $95.00 and gave the company an "outperform" rating in a report on Friday, August 8th. DA Davidson upped their price objective on shares of Zillow Group from $85.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Zelman & Associates raised shares of Zillow Group to a "hold" rating in a report on Friday, August 8th. Thirteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $85.52.

Insider Activity

In related news, Director April Underwood sold 3,621 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $90.12, for a total transaction of $326,324.52. Following the sale, the director directly owned 483 shares of the company's stock, valued at approximately $43,527.96. This represents a 88.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 25,000 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the transaction, the chief financial officer owned 84,146 shares of the company's stock, valued at $7,572,298.54. This represents a 22.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 657,087 shares of company stock valued at $56,286,479 in the last three months. Corporate insiders own 17.14% of the company's stock.

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.