Assenagon Asset Management S.A. Reduces Stock Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Assenagon Asset Management S.A. lowered its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 22.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,199 shares of the technology company's stock after selling 5,539 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Zillow Group were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC grew its position in shares of Zillow Group by 13.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company's stock worth $84,000 after acquiring an additional 138 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Zillow Group by 24.0% during the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company's stock worth $58,000 after purchasing an additional 159 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in Zillow Group during the 4th quarter worth $27,000. Versant Capital Management Inc grew its position in Zillow Group by 38.3% during the 1st quarter. Versant Capital Management Inc now owns 1,413 shares of the technology company's stock worth $94,000 after purchasing an additional 391 shares during the last quarter. Finally, Barrier Capital Management LLC increased its stake in Zillow Group by 0.4% in the fourth quarter. Barrier Capital Management LLC now owns 111,200 shares of the technology company's stock valued at $7,879,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 20.32% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Zillow Group to a "hold" rating in a research report on Friday, March 28th. Benchmark lowered their target price on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Barclays cut their price target on shares of Zillow Group from $64.00 to $60.00 and set an "underweight" rating for the company in a report on Thursday, May 8th. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price objective (down previously from $100.00) on shares of Zillow Group in a report on Thursday, May 8th. Finally, DA Davidson dropped their target price on Zillow Group from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $81.80.

Zillow Group Stock Down 4.8%

Zillow Group stock opened at $66.35 on Wednesday. The firm has a market capitalization of $16.02 billion, a P/E ratio of -195.15, a PEG ratio of 12.87 and a beta of 2.11. The firm has a fifty day moving average of $65.99 and a 200-day moving average of $70.94. Zillow Group, Inc. has a 52-week low of $40.30 and a 52-week high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued 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 analyst estimates of $587.88 million. During the same period last year, the business earned $0.36 EPS. The firm's revenue was up 13.0% compared to the same quarter last year. On average, research analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Errol G. Samuelson sold 2,854 shares of the firm's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the transaction, the insider now directly owns 142,636 shares in the company, valued at approximately $10,460,924.24. This trade represents a 1.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jun Choo sold 11,725 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $68.77, for a total transaction of $806,328.25. Following the sale, the chief operating officer now owns 130,186 shares in the company, valued at approximately $8,952,891.22. This trade represents a 8.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,947 shares of company stock worth $7,199,000 in the last three months. 17.14% of the stock is owned by insiders.

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.

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