Vontobel Holding Ltd. Sells 3,754 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Vontobel Holding Ltd. reduced its stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 21.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,454 shares of the technology company's stock after selling 3,754 shares during the quarter. Vontobel Holding Ltd.'s holdings in Zillow Group were worth $900,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ZG. Pilgrim Partners Asia Pte Ltd purchased a new position in Zillow Group in the 4th quarter worth approximately $27,000. Salem Investment Counselors Inc. purchased a new position in Zillow Group in the 1st quarter worth approximately $42,000. CX Institutional purchased a new position in Zillow Group in the 1st quarter worth approximately $46,000. Assetmark Inc. raised its holdings in Zillow Group by 18,875.0% in the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company's stock worth $54,000 after acquiring an additional 755 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Zillow Group by 24.0% in the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company's stock worth $58,000 after acquiring an additional 159 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,466 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $68.96, for a total value of $239,015.36. Following the completion of the sale, the general counsel owned 47,215 shares in the company, valued at approximately $3,255,946.40. This represents a 6.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Erik C. Blachford sold 965 shares of Zillow Group stock in a transaction dated 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 in the company, valued at $2,495,595.90. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,093 shares of company stock worth $6,989,688 in the last three months. 17.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ZG has been the subject of a number of recent analyst reports. William Blair initiated coverage on shares of Zillow Group in a report on Monday, April 21st. They issued a "market perform" rating for the company. Barclays decreased their price objective on shares of Zillow Group from $64.00 to $60.00 and set an "underweight" rating for the company in a report on Thursday, May 8th. Keefe, Bruyette & Woods upgraded shares of Zillow Group to a "hold" rating in a research note on Friday, March 28th. The Goldman Sachs Group decreased their target price on shares of Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Benchmark decreased their target price on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Zillow Group currently has an average rating of "Hold" and an average price target of $82.45.

Zillow Group Price Performance

Shares of NASDAQ:ZG traded up $2.73 during midday trading on Wednesday, hitting $72.96. The company had a trading volume of 886,710 shares, compared to its average volume of 558,518. Zillow Group, Inc. has a 12-month low of $40.30 and a 12-month high of $86.58. The company has a market cap of $17.62 billion, a price-to-earnings ratio of -214.59, a PEG ratio of 12.97 and a beta of 2.09. The company has a fifty day moving average of $67.84 and a two-hundred day moving average of $70.01.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly 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). Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. The business had revenue of $598.00 million during the quarter, compared to analysts' expectations of $587.88 million. During the same quarter in the previous year, the company posted $0.36 EPS. The company's quarterly revenue was up 13.0% on a year-over-year basis. Research analysts expect 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.