Zillow Group, Inc. (NASDAQ:ZG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,513 shares of the technology company's stock after selling 6,480 shares during the period. Bank of New York Mellon Corp owned 0.06% of Zillow Group worth $10,130,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Zillow Group during the fourth quarter worth $165,326,000. Dimensional Fund Advisors LP lifted its position in shares of Zillow Group by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 445,664 shares of the technology company's stock valued at $31,578,000 after acquiring an additional 27,345 shares in the last quarter. Selkirk Management LLC lifted its position in shares of Zillow Group by 14.0% in the fourth quarter. Selkirk Management LLC now owns 365,800 shares of the technology company's stock valued at $25,917,000 after acquiring an additional 45,000 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Zillow Group by 1,261.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock valued at $18,454,000 after acquiring an additional 241,331 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Zillow Group by 2.5% in the fourth quarter. Northern Trust Corp now owns 247,078 shares of the technology company's stock valued at $17,505,000 after acquiring an additional 6,088 shares in the last quarter. Institutional investors and hedge funds own 20.32% of the company's stock.

Zillow Group Price Performance

Shares of NASDAQ ZG opened at $74.70 on Tuesday. The stock has a market capitalization of $18.04 billion, a P/E ratio of -219.71, a P/E/G ratio of 13.74 and a beta of 2.09. Zillow Group, Inc. has a 1 year low of $40.30 and a 1 year high of $86.58. The company's 50-day moving average is $68.99 and its 200 day moving average is $70.11.

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 1.62% and a negative net margin of 3.51%. The firm had revenue of $598.00 million during the quarter, compared to the consensus estimate of $587.88 million. During the same quarter in the prior year, the company posted $0.36 EPS. The company's quarterly revenue was up 13.0% on a year-over-year basis. Research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ZG has been the topic of several recent research reports. Citigroup cut their price target on 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 decreased their target price on Zillow Group from $86.00 to $76.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Wedbush restated an "outperform" rating and issued a $90.00 target price (down from $100.00) on shares of Zillow Group in a report on Thursday, May 8th. Keefe, Bruyette & Woods upgraded Zillow Group to a "hold" rating in a report on Friday, March 28th. Finally, William Blair started coverage on Zillow Group in a report on Monday, April 21st. They set a "market perform" rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of "Hold" and a consensus price target of $82.45.

Insider Buying and Selling at Zillow Group

In related news, CEO Jeremy Wacksman sold 10,984 shares of Zillow Group stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $757,676.32. Following the completion of the sale, the chief executive officer directly owned 171,517 shares in the company, valued at $11,831,242.66. This trade represents a 6.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jun Choo sold 11,725 shares of Zillow Group stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $68.77, for a total transaction of $806,328.25. Following the sale, the chief operating officer owned 130,186 shares of the company's stock, valued at approximately $8,952,891.22. The trade was a 8.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,093 shares of company stock valued at $6,989,688 over the last ninety days. Corporate insiders own 17.14% of the company's stock.

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.

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