MFG Wealth Management Inc. Has $1.11 Million Stake in Zillow Group, Inc. (NASDAQ:ZG)

MFG Wealth Management Inc. cut its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 44.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,608 shares of the technology company's stock after selling 13,305 shares during the period. MFG Wealth Management Inc.'s holdings in Zillow Group were worth $1,110,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Wealthquest Corp acquired a new stake in Zillow Group in the first quarter valued at $238,000. Optas LLC acquired a new position in shares of Zillow Group during the 1st quarter worth about $248,000. Wealth Enhancement Advisory Services LLC raised its holdings 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 valued at $404,000 after purchasing an additional 2,288 shares during the period. Salem Investment Counselors Inc. acquired a new stake in Zillow Group in the 1st quarter valued at about $42,000. Finally, Polianta Ltd acquired a new stake in Zillow Group in the 1st quarter valued at about $1,076,000. 20.32% of the stock is currently owned by institutional investors.

Zillow Group Trading Up 1.0%

NASDAQ ZG traded up $0.67 during trading on Thursday, reaching $67.68. The company's stock had a trading volume of 261,199 shares, compared to its average volume of 556,915. The firm has a 50 day moving average price of $66.58 and a 200 day moving average price of $70.47. Zillow Group, Inc. has a 12 month low of $40.30 and a 12 month high of $86.58. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of -199.06, a price-to-earnings-growth ratio of 12.68 and a beta of 2.11.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The business had revenue of $598.00 million during the quarter, compared to analyst estimates of $587.88 million. Zillow Group had a negative net margin of 3.51% and a negative return on equity of 1.62%. The firm's quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, General Counsel Bradley D. Owens sold 1,154 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $68.74, for a total transaction of $79,325.96. Following the completion of the transaction, the general counsel now directly owns 50,681 shares in the company, valued at $3,483,811.94. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Erik C. Blachford sold 965 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $70.35, for a total value of $67,887.75. Following the sale, the director now owns 35,474 shares of the company's stock, valued at $2,495,595.90. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,093 shares of company stock valued at $6,989,688. 17.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ZG shares. The Goldman Sachs Group lowered their price target on Zillow Group from $77.00 to $69.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company began coverage on Zillow Group in a report on Monday, April 28th. They set a "mixed" rating and a $62.00 target price on the stock. KeyCorp dropped their price target on Zillow Group from $95.00 to $85.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. William Blair began coverage on shares of Zillow Group in a research report on Monday, April 21st. They set a "market perform" rating for the company. Finally, Wedbush reiterated an "outperform" rating and issued a $90.00 price objective (down from $100.00) on shares of Zillow Group in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.80.

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.