Zillow Group, Inc. (NASDAQ:ZG) Shares Sold by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA reduced its holdings in Zillow Group by 64.3% during the first quarter, now owning 6,371 shares valued at $426,000.
• Analysts have mixed views on Zillow Group, with one lowering the target price from $86 to $76 while others maintain a "buy" rating with varying target prices.
• Zillow Group reported $0.41 EPS for the quarter, missing estimates by $0.06, but achieved $598 million in revenue, above analysts' expectations.

ABC Arbitrage SA reduced its stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 64.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,371 shares of the technology company's stock after selling 11,478 shares during the period. ABC Arbitrage SA's holdings in Zillow Group were worth $426,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ZG. Raymond James Financial Inc. bought a new stake in shares of Zillow Group in the 4th quarter valued at about $14,916,000. Sone Capital Management LLC purchased a new position in Zillow Group during the fourth quarter valued at approximately $11,185,000. GAMMA Investing LLC raised its stake in Zillow Group by 9,124.2% in the first quarter. GAMMA Investing LLC now owns 122,220 shares of the technology company's stock worth $8,172,000 after buying an additional 120,895 shares in the last quarter. Nellore Capital Management LLC purchased a new stake in Zillow Group during the fourth quarter worth $6,823,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Zillow Group by 2,728.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 96,801 shares of the technology company's stock worth $6,858,000 after buying an additional 93,378 shares during the period. 20.32% of the stock is currently owned by institutional investors.

Insider Transactions at Zillow Group

In other news, Director Erik C. Blachford sold 965 shares of Zillow Group 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 completion of the sale, the director directly owned 35,474 shares of the company's stock, valued at approximately $2,495,595.90. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeremy Hofmann sold 7,959 shares of Zillow Group stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $549,011.82. Following the completion of the transaction, the chief financial officer directly owned 97,481 shares of the company's stock, valued at approximately $6,724,239.38. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,371 shares of company stock worth $5,775,204 in the last 90 days. Insiders own 17.14% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup cut their price target on shares of 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 boosted their target price on Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research note on Thursday. Wedbush reaffirmed an "outperform" rating and set a $90.00 target price (down from $100.00) on shares of Zillow Group in a research report on Thursday, May 8th. Barclays raised their price target on Zillow Group from $60.00 to $66.00 and gave the stock an "underweight" rating in a report on Thursday. Finally, The Goldman Sachs Group dropped their price target on Zillow Group from $77.00 to $69.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $85.38.

Zillow Group Trading Down 0.5%

ZG stock traded down $0.40 during mid-day trading on Thursday, reaching $81.11. The company's stock had a trading volume of 1,121,534 shares, compared to its average volume of 551,251. The company's 50 day moving average is $72.21 and its two-hundred day moving average is $70.81. Zillow Group, Inc. has a fifty-two week low of $45.49 and a fifty-two week high of $86.58. The stock has a market cap of $19.58 billion, a PE ratio of -311.96, a P/E/G ratio of 15.06 and a beta of 2.07.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results 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). The company had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.06 million. Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%. The firm's revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $0.39 earnings per share. On average, analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

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.