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

Vontobel Holding Ltd. cut its position in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 21.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ZG. Wealthquest Corp acquired a new stake in Zillow Group during the 1st quarter worth $238,000. Optas LLC purchased a new position in Zillow Group during the 1st quarter valued at about $248,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Zillow Group by 60.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,044 shares of the technology company's stock worth $404,000 after buying an additional 2,288 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Zillow Group during the first quarter worth about $42,000. Finally, Polianta Ltd purchased a new stake in shares of Zillow Group during the first quarter worth about $1,076,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Trading Down 0.6%

ZG stock traded down $0.39 during trading hours on Tuesday, hitting $70.04. 322,589 shares of the stock were exchanged, compared to its average volume of 555,416. Zillow Group, Inc. has a 12 month low of $40.30 and a 12 month high of $86.58. The firm has a market capitalization of $16.91 billion, a P/E ratio of -206.00, a P/E/G ratio of 12.99 and a beta of 2.09. The company has a 50-day simple moving average of $67.62 and a two-hundred day simple moving average of $69.99.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). Zillow Group had a negative net margin of 3.51% and a negative return on equity of 1.62%. The business had revenue of $598.00 million during the quarter, compared to analyst estimates of $587.88 million. During the same period last year, the business earned $0.36 earnings per share. The business's quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict 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 analyst reports. Barclays cut their price target on shares of Zillow Group from $64.00 to $60.00 and set an "underweight" rating on the stock in a report on Thursday, May 8th. Benchmark lowered 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 report on Thursday, May 8th. UBS Group lowered their price target on shares of Zillow Group from $98.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, April 11th. KeyCorp reduced their price objective on shares of Zillow Group from $95.00 to $85.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods raised shares of Zillow Group to a "hold" rating in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $82.45.

Insider Activity

In other news, insider Dan Spaulding sold 5,534 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $381,735.32. Following the transaction, the insider owned 68,889 shares of the company's stock, valued at $4,751,963.22. This represents a 7.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Bradley D. Owens sold 3,466 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.96, for a total value of $239,015.36. Following the sale, the general counsel directly owned 47,215 shares in the company, valued at $3,255,946.40. This trade represents a 6.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,093 shares of company stock valued at $6,989,688. 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.