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 cut its stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 22.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI lifted its stake in Zillow Group by 79.4% in the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after buying an additional 216 shares during the period. Salem Investment Counselors Inc. acquired a new position in Zillow Group in the first quarter valued at approximately $42,000. CX Institutional acquired a new position in Zillow Group in the first quarter valued at approximately $46,000. Wood Tarver Financial Group LLC acquired a new position in Zillow Group in the fourth quarter valued at approximately $70,000. Finally, PNC Financial Services Group Inc. lifted its stake in Zillow Group by 33.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after buying an additional 280 shares during the period. 20.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ZG shares. Benchmark dropped their price target on Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. DA Davidson boosted their price target on Zillow Group from $85.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. KeyCorp reissued an "overweight" rating and issued a $92.00 price target (up from $90.00) on shares of Zillow Group in a research note on Thursday, August 7th. Susquehanna reissued a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Finally, Evercore ISI upped 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. Thirteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $85.62.

Zillow Group Stock Down 1.2%

NASDAQ ZG traded down $1.00 on Monday, reaching $81.48. The company had a trading volume of 285,942 shares, compared to its average volume of 626,349. The stock has a market capitalization of $19.74 billion, a P/E ratio of -313.38, a P/E/G ratio of 15.35 and a beta of 2.02. The company's fifty day moving average is $76.11 and its 200 day moving average is $70.76. Zillow Group, Inc. has a 52-week low of $51.16 and a 52-week high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The company had revenue of $655.00 million during the quarter, compared to analysts' expectations of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The company's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. On average, research analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Bradley D. Owens sold 3,014 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 $257,244.90. Following the completion of the sale, the general counsel directly owned 42,593 shares of the company's stock, valued at approximately $3,635,312.55. This represents a 6.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard N. Barton sold 150,000 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $85.68, for a total value of $12,852,000.00. Following the completion of the transaction, the chairman owned 2,501,225 shares of the company's stock, valued at $214,304,958. This trade represents a 5.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 580,379 shares of company stock worth $49,319,729 in the last three months. 17.14% of the stock is owned by corporate 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.