Zillow Group, Inc. (NASDAQ:ZG) Holdings Lowered by MFG Wealth Management Inc.

MFG Wealth Management Inc. trimmed its holdings in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 44.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthquest Corp purchased a new position in shares of Zillow Group in the 1st quarter worth about $238,000. Optas LLC purchased a new position in shares of Zillow Group in 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 worth $404,000 after purchasing an additional 2,288 shares during the period. Salem Investment Counselors Inc. purchased a new position in shares of Zillow Group in the 1st quarter worth about $42,000. Finally, Polianta Ltd purchased a new position in shares of Zillow Group in the 1st quarter worth about $1,076,000. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Stock Up 0.8%

Shares of ZG traded up $0.52 during mid-day trading on Friday, hitting $68.20. The stock had a trading volume of 349,917 shares, compared to its average volume of 554,688. The company has a market cap of $16.47 billion, a PE ratio of -200.59, a PEG ratio of 12.60 and a beta of 2.11. The company's fifty day simple moving average is $66.84 and its two-hundred day simple moving average is $70.21. Zillow Group, Inc. has a fifty-two week low of $40.30 and a fifty-two week high of $86.58.

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

Analyst Upgrades and Downgrades

ZG has been the topic of a number of research reports. Benchmark cut their price objective on Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Citigroup cut their price objective on Zillow Group from $98.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Canaccord Genuity Group dropped their target price on Zillow Group from $86.00 to $76.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Piper Sandler raised their target price on Zillow Group from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, KeyCorp dropped their target price on Zillow Group from $95.00 to $85.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.80.

Insider Activity at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 6,962 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $68.63, for a total transaction of $477,802.06. Following the completion of the transaction, the insider now owns 135,674 shares in the company, valued at approximately $9,311,306.62. The trade was a 4.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Erik C. Blachford sold 965 shares of the business'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 transaction, the director now owns 35,474 shares of the company's stock, valued at $2,495,595.90. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,093 shares of company stock worth $6,989,688 in the last 90 days. 17.14% of the stock is currently owned by company insiders.

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.