Silvant Capital Management LLC Sells 12,132 Shares of Zillow Group, Inc. $ZG

Key Points

• Silvant Capital Management LLC reduced its stake in Zillow Group by 22.8%, selling 12,132 shares and leaving it with 41,024 shares worth $2,743,000.
• In the 1st quarter, multiple institutional investors have increased their holdings in Zillow Group, indicating growing interest, with 20.32% of stock now owned by institutional investors.
• Zillow Group reported a missed EPS of $0.40 against an expected $0.44, but achieved a 14.5% year-over-year revenue growth with $655 million in revenue.

Silvant Capital Management LLC trimmed its position in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,024 shares of the technology company's stock after selling 12,132 shares during the period. Silvant Capital Management LLC's holdings in Zillow Group were worth $2,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. National Bank of Canada FI grew its holdings in Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after purchasing an additional 216 shares during the period. Salem Investment Counselors Inc. bought a new position in Zillow Group during the first quarter valued at $42,000. CX Institutional bought a new position in Zillow Group during the first quarter valued at $46,000. Wood Tarver Financial Group LLC bought a new position in Zillow Group during the fourth quarter valued at $70,000. Finally, PNC Financial Services Group Inc. grew its holdings in Zillow Group by 33.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after purchasing an additional 280 shares during the period. 20.32% of the stock is owned by institutional investors.

Zillow Group Stock Performance

Shares of ZG stock opened at $82.90 on Wednesday. Zillow Group, Inc. has a 52-week low of $51.16 and a 52-week high of $86.58. The company has a market capitalization of $20.08 billion, a PE ratio of -318.85, a price-to-earnings-growth ratio of 15.78 and a beta of 2.07. The business's fifty day moving average is $75.17 and its 200 day moving average is $70.78.

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 business had revenue of $655.00 million during the quarter, compared to analysts' expectations of $647.06 million. During the same quarter last year, the business posted $0.39 EPS. The company's quarterly revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 5,680 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.22, for a total value of $484,049.60. Following the sale, the insider owned 59,616 shares in the company, valued at approximately $5,080,475.52. This trade represents a 8.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeremy Hofmann sold 8,168 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.35, for a total value of $697,138.80. Following the completion of the sale, the chief financial officer owned 84,146 shares in the company, valued at $7,181,861.10. This trade represents a 8.85% 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 in the last ninety days. 17.14% of the stock is owned by insiders.

Analysts Set New Price Targets

ZG has been the subject of several research reports. Canaccord Genuity Group increased their price objective on Zillow Group from $76.00 to $84.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Piper Sandler increased their price objective on Zillow Group from $82.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Evercore ISI increased their target price on Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. increased their target price on Zillow Group from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group dropped their target price 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. Thirteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Zillow Group currently has a consensus rating of "Hold" and an average price target of $85.62.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.