Hartline Investment Corp Decreases Holdings in Zillow Group, Inc. $ZG

Key Points

• Hartline Investment Corp has reduced its stake in Zillow Group, Inc. by 5.9%, selling 4,269 shares during the second quarter, leaving them with 68,439 shares valued at approximately $4.7 million.
• Analysts have mixed opinions on Zillow Group, with ratings ranging from a strong buy to sell, and a consensus target price estimated at $86.92.
• The stock has experienced fluctuations, currently priced at $69.82, with a twelve-month range between $55.08 and $90.22.

Hartline Investment Corp cut its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,439 shares of the technology company's stock after selling 4,269 shares during the quarter. Hartline Investment Corp's holdings in Zillow Group were worth $4,687,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. National Bank of Canada FI raised its stake in shares of Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock worth $33,000 after acquiring an additional 216 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Zillow Group by 33.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock worth $75,000 after buying an additional 280 shares during the period. GAMMA Investing LLC increased its stake in shares of Zillow Group by 38.0% in the first quarter. GAMMA Investing LLC now owns 1,828 shares of the technology company's stock worth $122,000 after buying an additional 503 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Zillow Group by 22.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,312 shares of the technology company's stock worth $221,000 after buying an additional 600 shares during the period. Finally, Wealthquest Corp purchased a new position in shares of Zillow Group in the first quarter worth $238,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ZG. KeyCorp reaffirmed an "overweight" rating and issued a $92.00 target price (up from $90.00) on shares of Zillow Group in a research note on Thursday, August 7th. Wells Fargo & Company dropped their price target on shares of Zillow Group from $75.00 to $73.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Zillow Group in a research note on Wednesday, October 8th. DA Davidson reaffirmed a "buy" rating and set a $95.00 price target on shares of Zillow Group in a research report on Thursday, October 2nd. Finally, Piper Sandler upped their price target on shares of Zillow Group from $82.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $86.92.

Zillow Group Stock Down 1.1%

ZG stock opened at $69.82 on Friday. The business's fifty day simple moving average is $78.24 and its two-hundred day simple moving average is $72.11. Zillow Group, Inc. has a twelve month low of $55.08 and a twelve month high of $90.22. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of -268.54, a PEG ratio of 24.15 and a beta of 2.11.

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

Insider Activity at Zillow Group

In other news, CTO David A. Beitel sold 22,510 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $90.97, for a total value of $2,047,734.70. Following the completion of the sale, the chief technology officer directly owned 144,549 shares in the company, valued at $13,149,622.53. The trade was a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jun Choo sold 45,710 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.21, for a total value of $3,894,949.10. Following the sale, the chief operating officer owned 117,098 shares of the company's stock, valued at $9,977,920.58. The trade was a 28.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 657,087 shares of company stock valued at $56,286,479 in the last 90 days. 17.14% of the stock is currently owned by corporate 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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