Empire Financial Management Company LLC Has $844,000 Position in Zillow Group, Inc. $ZG

Key Points

• Empire Financial Management cut its Zillow Group stake by 67.8% in the first quarter, selling 42,900 shares and retaining 20,400 shares valued at approximately $844,000.
• Other institutional investors, including Millennium Management and AQR Capital Management, increased their Zillow holdings; institutional investors and hedge funds collectively own 20.32% of the stock.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $69.48, despite several recent target cuts. Zillow’s latest quarter beat earnings and revenue expectations, with revenue rising 18.4% year over year.

Empire Financial Management Company LLC reduced its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 67.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,400 shares of the technology company's stock after selling 42,900 shares during the period. Empire Financial Management Company LLC's holdings in Zillow Group were worth $844,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ZG. AQR Capital Management LLC boosted its position in Zillow Group by 40.5% during the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company's stock valued at $862,000 after purchasing an additional 3,717 shares during the last quarter. Millennium Management LLC increased its position in Zillow Group by 110.8% in the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company's stock worth $19,456,000 after purchasing an additional 152,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Zillow Group by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company's stock worth $5,878,000 after purchasing an additional 5,737 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Zillow Group by 5.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company's stock worth $1,445,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Zillow Group by 16.3% during the 2nd quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company's stock valued at $543,000 after buying an additional 1,110 shares during the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on ZG. Weiss Ratings cut Zillow Group from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, May 22nd. Mizuho cut their price objective on shares of Zillow Group from $65.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. The Goldman Sachs Group reduced their target price on shares of Zillow Group from $53.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, June 12th. KeyCorp decreased their target price on shares of Zillow Group from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Finally, BTIG Research restated a "neutral" rating on shares of Zillow Group in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Zillow Group has an average rating of "Moderate Buy" and an average price target of $69.48.

Insider Activity at Zillow Group

In other news, insider Errol G. Samuelson sold 2,939 shares of Zillow Group stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total value of $111,593.83. Following the transaction, the insider owned 134,039 shares of the company's stock, valued at $5,089,460.83. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,072 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the sale, the chief executive officer owned 153,699 shares of the company's stock, valued at $5,616,161.46. The trade was a 5.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 42,910 shares of company stock valued at $1,605,732. 29.88% of the stock is owned by company insiders.

Zillow Group Stock Performance

ZG opened at $33.81 on Wednesday. The company has a market cap of $7.74 billion, a PE ratio of 135.24, a price-to-earnings-growth ratio of 1.37 and a beta of 1.95. The stock has a 50-day moving average of $33.39 and a 200-day moving average of $43.18. Zillow Group, Inc. has a 52-week low of $29.03 and a 52-week high of $90.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.17 million. During the same period last year, the business earned $0.41 EPS. The firm's revenue was up 18.4% compared to the same quarter last year. On average, research analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

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.

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