Ethic Inc. Lowers Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Ethic Inc. cut its stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 69.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,888 shares of the technology company's stock after selling 8,712 shares during the quarter. Ethic Inc.'s holdings in Zillow Group were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ZG. Cetera Investment Advisers acquired a new stake in shares of Zillow Group in the 4th quarter worth $228,000. Centiva Capital LP acquired a new stake in shares of Zillow Group in the 4th quarter worth $278,000. Brevan Howard Capital Management LP acquired a new stake in shares of Zillow Group in the 4th quarter worth $531,000. Barrier Capital Management LLC boosted its position in shares of Zillow Group by 0.4% in the 4th quarter. Barrier Capital Management LLC now owns 111,200 shares of the technology company's stock worth $7,879,000 after purchasing an additional 400 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its position in shares of Zillow Group by 2,728.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 96,801 shares of the technology company's stock worth $6,858,000 after purchasing an additional 93,378 shares in the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Trading Up 1.6%

NASDAQ:ZG traded up $1.01 during trading hours on Friday, hitting $65.27. 531,363 shares of the stock were exchanged, compared to its average volume of 564,526. Zillow Group, Inc. has a 52-week low of $38.40 and a 52-week high of $86.58. The firm's fifty day moving average price is $65.72 and its 200 day moving average price is $71.75. The company has a market cap of $15.76 billion, a P/E ratio of -138.87, a P/E/G ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.41 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 for the quarter, compared to analysts' expectations of $587.88 million. During the same quarter last year, the firm posted $0.36 earnings per share. Zillow Group's quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ZG shares. UBS Group lowered their price objective on Zillow Group from $98.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group lowered their price objective on Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. 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. Baird R W upgraded Zillow Group to a "hold" rating in a research note on Friday, January 31st. Finally, KeyCorp dropped their price target on Zillow Group from $95.00 to $85.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Zillow Group has an average rating of "Moderate Buy" and a consensus target price of $81.80.

Insider Activity

In other news, CEO Jeremy Wacksman sold 7,418 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $68.66, for a total value of $509,319.88. Following the completion of the sale, the chief executive officer now directly owns 182,501 shares in the company, valued at $12,530,518.66. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jun Choo sold 55,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the sale, the chief operating officer now owns 86,853 shares of the company's stock, valued at $6,790,167.54. This trade represents a 38.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 157,741 shares of company stock worth $11,414,034 over the last ninety days. Corporate insiders own 17.14% of the company's stock.

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.