CreativeOne Wealth LLC Decreases Holdings in Zillow Group, Inc. $ZG

Key Points

• CreativeOne Wealth LLC reduced its holdings in Zillow Group by 27.7% in the first quarter, selling 52,245 shares and owning a total of 136,138 shares valued at approximately $9.1 million.
• Insider transactions included CEO Jeremy Wacksman selling 11,275 shares and Chairman Richard N. Barton selling 150,000 shares, resulting in their ownership decreasing by 6.86% and 5.66% respectively.
• As of now, Zillow Group has a market capitalization of $20.08 billion, with stock performance showing a one-year low of $51.16 and a high of $86.58.

CreativeOne Wealth LLC lessened its stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 27.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,138 shares of the technology company's stock after selling 52,245 shares during the period. CreativeOne Wealth LLC owned approximately 0.06% of Zillow Group worth $9,102,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ZG. National Bank of Canada FI grew its position in Zillow Group by 79.4% in the 1st quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock worth $33,000 after purchasing an additional 216 shares during the period. Salem Investment Counselors Inc. purchased a new position in shares of Zillow Group during the 1st quarter worth $42,000. CX Institutional purchased a new position in shares of Zillow Group during the 1st quarter worth $46,000. Wood Tarver Financial Group LLC purchased a new position in shares of Zillow Group during the 4th quarter worth $70,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Zillow Group by 33.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock worth $75,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 20.32% of the company's stock.

Zillow Group Trading Down 1.2%

Shares of ZG traded down $1.00 during trading hours on Monday, reaching $81.48. 285,942 shares of the stock traded hands, compared to its average volume of 626,349. Zillow Group, Inc. has a 52-week low of $51.16 and a 52-week high of $86.58. The company's 50-day moving average price is $76.11 and its two-hundred day moving average price is $70.76. The company has a market cap of $19.74 billion, a P/E ratio of -313.38, a price-to-earnings-growth ratio of 15.35 and a beta of 2.02.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The firm had revenue of $655.00 million for the quarter, compared to analysts' expectations of $647.06 million. During the same quarter last year, the firm posted $0.39 EPS. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. On average, research analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ZG. Zelman & Associates upgraded shares of Zillow Group to a "hold" rating in a research note on Friday, August 8th. Barclays reiterated an "underweight" rating and set a $66.00 price target (up previously from $60.00) on shares of Zillow Group in a research note on Thursday, August 7th. KeyCorp reiterated an "overweight" rating and set a $92.00 price target (up previously from $90.00) on shares of Zillow Group in a research note on Thursday, August 7th. Susquehanna reiterated a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Finally, Evercore ISI lifted their price target on shares of Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $85.62.

Insider Buying and Selling

In other Zillow Group news, Chairman Richard N. Barton sold 150,000 shares of Zillow Group stock in a transaction on Friday, August 15th. The shares were sold at an average price of $85.68, for a total value of $12,852,000.00. Following the sale, the chairman directly owned 2,501,225 shares in the company, valued at approximately $214,304,958. The trade was a 5.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeremy Hofmann sold 8,168 shares of Zillow Group stock in a transaction on Friday, August 15th. The shares were sold at an average price of $85.35, for a total transaction of $697,138.80. Following the completion of the sale, the chief financial officer owned 84,146 shares in the company, valued at approximately $7,181,861.10. This represents a 8.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 580,379 shares of company stock worth $49,319,729 in the last 90 days. 17.14% of the stock is owned by company insiders.

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.