Maven Securities LTD Sells 14,940 Shares of Zillow Group, Inc. $ZG

Key Points

• Maven Securities LTD has significantly reduced its holdings in Zillow Group, Inc., lowering its position by 57.8% and now owning 10,899 shares valued at $729,000.
• In contrast, National Bank of Canada FI increased its stake in Zillow Group by 79.4%, and several other institutional investors have also modified their positions during the same quarter.
• Recent analyst ratings for Zillow Group have been generally positive, with multiple firms raising their target prices, indicating an optimistic view of the company's future performance.

Maven Securities LTD decreased its position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 57.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,899 shares of the technology company's stock after selling 14,940 shares during the quarter. Maven Securities LTD's holdings in Zillow Group were worth $729,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Zillow Group by 38.0% in the 1st quarter. GAMMA Investing LLC now owns 1,828 shares of the technology company's stock worth $122,000 after acquiring an additional 503 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Zillow Group by 60.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,044 shares of the technology company's stock worth $404,000 after acquiring an additional 2,288 shares in the last quarter. SG Americas Securities LLC boosted its position in Zillow Group by 253.3% during the 1st quarter. SG Americas Securities LLC now owns 20,980 shares of the technology company's stock valued at $1,403,000 after purchasing an additional 15,042 shares during the period. Cetera Investment Advisers acquired a new position in Zillow Group during the 4th quarter valued at approximately $228,000. Finally, Two Sigma Advisers LP boosted its position in Zillow Group by 21.5% during the 4th quarter. Two Sigma Advisers LP now owns 14,090 shares of the technology company's stock valued at $998,000 after purchasing an additional 2,490 shares during the period. Institutional investors and hedge funds own 20.32% of the company's stock.

Zillow Group Trading Up 7.7%

ZG traded up $6.03 during midday trading on Friday, reaching $83.92. The company's stock had a trading volume of 714,340 shares, compared to its average volume of 534,308. The stock has a market cap of $20.33 billion, a P/E ratio of -322.77, a PEG ratio of 14.67 and a beta of 2.07. The company has a fifty day simple moving average of $74.56 and a 200 day simple moving average of $70.88. Zillow Group, Inc. has a twelve month low of $51.16 and a twelve month high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its 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). The business had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. Sell-side analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ZG shares. Wedbush restated an "outperform" rating and set a $90.00 price objective (down previously from $100.00) on shares of Zillow Group in a research report on Thursday, May 8th. Zelman & Associates upgraded Zillow Group to a "hold" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. boosted their price objective on Zillow Group from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Benchmark reduced their price objective on Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Barclays restated an "underweight" rating and set a $66.00 price objective (up previously from $60.00) on shares of Zillow Group in a research report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $85.62.

Insider Transactions at Zillow Group

In other news, CFO Jeremy Hofmann sold 8,168 shares of Zillow Group stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.35, for a total transaction of $697,138.80. Following the sale, the chief financial officer owned 84,146 shares of the company's stock, valued at approximately $7,181,861.10. This trade represents a 8.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Bradley D. Owens sold 3,014 shares of Zillow Group 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 in the company, valued at $3,635,312.55. The trade was a 6.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 580,379 shares of company stock worth $49,319,729. 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.