Tabor Asset Management LP Reduces Stake in Zillow Group, Inc. (NASDAQ:ZG)

Tabor Asset Management LP trimmed its position in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 64.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,957 shares of the technology company's stock after selling 70,886 shares during the period. Zillow Group accounts for approximately 1.3% of Tabor Asset Management LP's portfolio, making the stock its 28th largest holding. Tabor Asset Management LP's holdings in Zillow Group were worth $2,760,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd bought a new stake in Zillow Group during the 4th quarter valued at $27,000. Blue Trust Inc. increased its stake in Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company's stock worth $30,000 after purchasing an additional 172 shares during the period. Asset Dedication LLC purchased a new position in shares of Zillow Group in the fourth quarter valued at about $47,000. Assetmark Inc. raised its stake in shares of Zillow Group by 18,875.0% during the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company's stock valued at $54,000 after acquiring an additional 755 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Zillow Group by 24.0% during the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company's stock worth $58,000 after purchasing an additional 159 shares during the period. 20.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ZG. Royal Bank of Canada reaffirmed an "outperform" rating and set a $88.00 price target on shares of Zillow Group in a research report on Wednesday, February 12th. UBS Group cut their price target on shares of Zillow Group from $98.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, April 11th. DA Davidson decreased their price objective on shares of Zillow Group from $90.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Susquehanna raised their target price on shares of Zillow Group from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Benchmark reduced their price target on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $81.80.

Zillow Group Price Performance

Zillow Group stock traded up $1.20 during mid-day trading on Friday, reaching $65.46. The stock had a trading volume of 419,379 shares, compared to its average volume of 564,268. Zillow Group, Inc. has a one year low of $38.40 and a one year high of $86.58. The company has a 50-day moving average price of $65.77 and a two-hundred day moving average price of $71.72. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of -139.27, a PEG ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.06). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. The firm had revenue of $598.00 million during the quarter, compared to analysts' expectations of $587.88 million. During the same period last year, the firm posted $0.36 earnings per share. The firm's quarterly revenue was up 13.0% on a year-over-year basis. On average, equities research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In other news, insider Errol G. Samuelson sold 2,854 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total value of $209,312.36. Following the transaction, the insider now owns 142,636 shares of the company's stock, valued at $10,460,924.24. This trade represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jun Choo sold 55,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the completion of the sale, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,790,167.54. The trade was a 38.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,741 shares of company stock valued at $11,414,034. 17.14% of the stock is owned by corporate insiders.

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.