Vontobel Holding Ltd. Trims Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Vontobel Holding Ltd. decreased its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 21.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 13,454 shares of the technology company's stock after selling 3,754 shares during the period. Vontobel Holding Ltd.'s holdings in Zillow Group were worth $900,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Zillow Group in the 4th quarter worth approximately $165,326,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Zillow Group by 1,261.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock valued at $18,454,000 after purchasing an additional 241,331 shares during the period. Virtu Financial LLC lifted its stake in shares of Zillow Group by 101.3% in the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock valued at $29,775,000 after purchasing an additional 211,482 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Zillow Group in the 4th quarter valued at $14,916,000. Finally, Sone Capital Management LLC purchased a new stake in Zillow Group in the 4th quarter worth $11,185,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ZG. Piper Sandler upped their price objective on shares of Zillow Group from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. The Goldman Sachs Group dropped their target price on shares of Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Wells Fargo & Company initiated coverage on shares of Zillow Group in a report on Monday, April 28th. They set a "mixed" rating and a $62.00 target price for the company. Benchmark dropped their target price on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, DA Davidson dropped 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $81.80.

Zillow Group Stock Up 2.1%

Zillow Group stock traded up $1.44 during mid-day trading on Friday, hitting $70.39. The company had a trading volume of 294,272 shares, compared to its average volume of 556,705. The stock has a market cap of $17.00 billion, a price-to-earnings ratio of -207.04, a PEG ratio of 12.99 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 business has a fifty day moving average of $67.51 and a 200 day moving average of $70.02.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The business had revenue of $598.00 million for the quarter, compared to analysts' expectations of $587.88 million. Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. The business's revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $0.36 earnings per share. Equities analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Transactions at Zillow Group

In related news, Director Gordon Sheridan Stephenson sold 10,000 shares of Zillow Group stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $70.69, for a total value of $706,900.00. Following the transaction, the director directly owned 28,290 shares in the company, valued at $1,999,820.10. This trade represents a 26.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jun Choo sold 11,725 shares of the business's stock in a transaction on Thursday, May 8th. The stock was 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 in the company, valued at $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 sold a total of 101,093 shares of company stock worth $6,989,688 over the last quarter. 17.14% of the stock is currently 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.