Invesco Ltd. Has $3.40 Million Holdings in Zillow Group, Inc. $ZG

Key Points

• Invesco Ltd. has reduced its holdings in Zillow Group, Inc. by 12.2% to approximately $3.4 million after selling 7,075 shares in the first quarter.
• Multiple research firms have raised their price targets for Zillow Group, with Piper Sandler setting a target of $94.00, indicating a generally positive outlook from analysts.
• During August, significant insider sales were reported, including COO Jun Choo selling 45,710 shares valued at approximately $3.89 million, which reflects a 28.08% decrease in his stake in the company.

Invesco Ltd. trimmed its holdings in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 12.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,850 shares of the technology company's stock after selling 7,075 shares during the quarter. Invesco Ltd.'s holdings in Zillow Group were worth $3,400,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp grew its position in shares of Zillow Group by 4.1% during the 1st quarter. M&T Bank Corp now owns 5,437 shares of the technology company's stock worth $363,000 after buying an additional 215 shares during the period. National Bank of Canada FI raised its stake in shares of Zillow Group by 79.4% during the 1st quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock worth $33,000 after purchasing an additional 216 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Zillow Group by 0.3% during the 1st quarter. Baillie Gifford & Co. now owns 92,289 shares of the technology company's stock worth $6,170,000 after purchasing an additional 264 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Zillow Group by 33.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock worth $75,000 after purchasing an additional 280 shares in the last quarter. Finally, Winslow Asset Management Inc. raised its stake in shares of Zillow Group by 5.3% during the 1st quarter. Winslow Asset Management Inc. now owns 6,325 shares of the technology company's stock worth $423,000 after purchasing an additional 320 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Performance

Shares of ZG traded down $1.00 during mid-day trading on Monday, reaching $81.48. 285,942 shares of the company were exchanged, compared to its average volume of 626,349. Zillow Group, Inc. has a 52 week low of $51.16 and a 52 week high of $86.58. The stock has a market capitalization of $19.74 billion, a PE ratio of -313.38, a PEG ratio of 15.35 and a beta of 2.02. The business has a 50 day simple moving average of $76.39 and a two-hundred day simple moving average of $70.80.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $655.00 million for the quarter, compared to the consensus estimate of $647.06 million. During the same quarter last year, the business earned $0.39 earnings per share. Zillow Group's revenue was up 14.5% compared to the same quarter last year. On average, analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling at Zillow Group

In related news, CEO Jeremy Wacksman sold 11,275 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.73, for a total transaction of $966,605.75. Following the completion of the sale, the chief executive officer owned 153,113 shares of the company's stock, valued at $13,126,377.49. This trade represents a 6.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Bradley D. Owens sold 3,014 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.35, for a total value of $257,244.90. Following the sale, the general counsel directly owned 42,593 shares of the company's stock, valued at $3,635,312.55. This represents a 6.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 580,379 shares of company stock valued at $49,319,729 over the last ninety days. Insiders own 17.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. KeyCorp reissued an "overweight" rating and set a $92.00 target price (up from $90.00) on shares of Zillow Group in a report on Thursday, August 7th. Zelman & Associates raised Zillow Group to a "hold" rating in a report on Friday, August 8th. Royal Bank Of Canada raised their price objective on Zillow Group from $88.00 to $95.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Barclays reaffirmed an "underweight" rating and issued a $66.00 price objective (up from $60.00) on shares of Zillow Group in a research note on Thursday, August 7th. Finally, Evercore ISI raised their price objective on Zillow Group from $90.00 to $95.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $85.62.

Zillow Group Company 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.