Wellington Management Group LLP Has $27.84 Million Stake in Zillow Group, Inc. $ZG

Key Points

• Wellington Management Group LLP reduced its holdings in Zillow Group by 2.2% in the first quarter, owning approximately 0.17% of the company's shares, valued at about $27.8 million after selling 9,271 shares.
• Zillow Group reported a Q2 EPS of $0.40, missing analysts' estimates by $0.04, although revenue for the quarter rose by 14.5% compared to the previous year.
• CEO Jeremy Wacksman and COO Jun Choo both sold large amounts of company stock, indicating a decrease in insider ownership which may raise investor concerns.

Wellington Management Group LLP reduced its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 2.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 416,364 shares of the technology company's stock after selling 9,271 shares during the period. Wellington Management Group LLP owned approximately 0.17% of Zillow Group worth $27,838,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ZG. Sone Capital Management LLC acquired a new stake in Zillow Group during the 4th quarter worth approximately $11,185,000. Nuveen LLC bought a new position in shares of Zillow Group during the 1st quarter worth approximately $8,950,000. GAMMA Investing LLC grew its stake in shares of Zillow Group by 9,124.2% during the 1st quarter. GAMMA Investing LLC now owns 122,220 shares of the technology company's stock worth $8,172,000 after acquiring an additional 120,895 shares in the last quarter. Nellore Capital Management LLC bought a new position in shares of Zillow Group during the 4th quarter worth approximately $6,823,000. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Zillow Group by 2,728.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 96,801 shares of the technology company's stock worth $6,858,000 after acquiring an additional 93,378 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Trading Up 1.1%

ZG stock traded up $0.87 during trading on Thursday, hitting $82.48. The company had a trading volume of 313,179 shares, compared to its average volume of 560,914. The business has a 50-day moving average of $75.48 and a 200-day moving average of $70.86. Zillow Group, Inc. has a one year low of $51.16 and a one year high of $86.58. The stock has a market cap of $19.98 billion, a PE ratio of -317.23, a PEG ratio of 15.61 and a beta of 2.07.

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

Insider Transactions at Zillow Group

In other Zillow Group news, Director Thielke Claire Cormier sold 8,247 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $79.86, for a total value of $658,605.42. Following the transaction, the director directly owned 725 shares of the company's stock, valued at approximately $57,898.50. The trade was a 91.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard N. Barton sold 200,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $84.92, for a total value of $16,984,000.00. Following the completion of the transaction, the chairman directly owned 843,248 shares in the company, valued at approximately $71,608,620.16. This trade represents a 19.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 580,379 shares of company stock valued at $49,319,729. 17.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ZG has been the subject of several research reports. Wells Fargo & Company raised their price target on shares of Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Canaccord Genuity Group raised their price target on shares of Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Zillow Group from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Benchmark decreased their price target on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Evercore ISI raised their target price on shares of Zillow Group from $90.00 to $95.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.