Zillow Group, Inc. $ZG Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC has reduced its stake in Zillow Group, Inc. by 5.0%, selling 11,405 shares, and now holds 217,529 shares worth approximately $14.54 million.
• A number of other institutional investors have modified their positions in Zillow Group, with the National Bank of Canada FI increasing its holdings by 79.4%.
• Analysts have raised their price targets for Zillow Group, with Wells Fargo increasing theirs from $60.00 to $75.00, while Evercore ISI set theirs at $95.00, maintaining an "outperform" rating.

Great Lakes Advisors LLC lowered its stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,529 shares of the technology company's stock after selling 11,405 shares during the period. Great Lakes Advisors LLC owned 0.09% of Zillow Group worth $14,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZG. National Bank of Canada FI raised its holdings in shares of Zillow Group by 79.4% in the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock worth $33,000 after buying an additional 216 shares during the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of Zillow Group in the first quarter worth $42,000. CX Institutional purchased a new position in shares of Zillow Group in the first quarter worth $46,000. Wood Tarver Financial Group LLC purchased a new position in Zillow Group during the 4th quarter worth approximately $70,000. Finally, PNC Financial Services Group Inc. raised its position in 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 buying an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company's stock.

Insider Buying and Selling at Zillow Group

In other news, Director Erik C. Blachford sold 966 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $81.91, for a total transaction of $79,125.06. Following the completion of the sale, the director owned 34,508 shares of the company's stock, valued at $2,826,550.28. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Bradley D. Owens sold 3,014 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.35, for a total transaction of $257,244.90. Following the sale, the general counsel directly owned 42,593 shares of the company's stock, valued at $3,635,312.55. The trade was a 6.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 580,622 shares of company stock valued at $49,350,788. 17.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ZG. Wells Fargo & Company raised their price target on shares of Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Evercore ISI raised their price target on shares of Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. DA Davidson raised their price target on shares of Zillow Group from $85.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Canaccord Genuity Group lifted their target price on shares of Zillow Group from $76.00 to $84.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Finally, Barclays reaffirmed an "underweight" rating and set a $66.00 target price (up from $60.00) on shares of Zillow Group in a report on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $85.62.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $86.53 on Tuesday. The firm has a market cap of $20.96 billion, a PE ratio of -332.81, a PEG ratio of 15.97 and a beta of 2.02. The firm has a fifty day moving average of $77.83 and a 200 day moving average of $71.03. Zillow Group, Inc. has a one year low of $51.49 and a one year high of $88.45.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The business had revenue of $655.00 million for the quarter, compared to analysts' expectations of $647.06 million. During the same period in the previous year, the company earned $0.39 EPS. Zillow Group's quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Zillow Group 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.

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