Great Lakes Advisors LLC Lowers Stock Holdings in Zillow Group, Inc. $ZG

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 reduced its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 5.0% during the first quarter, according to 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 quarter. 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 institutional investors and hedge funds have also recently modified their holdings of ZG. Sone Capital Management LLC bought a new position in shares of Zillow Group during the fourth quarter valued at about $11,185,000. Millennium Management LLC grew its stake in shares of Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company's stock valued at $19,456,000 after buying an additional 152,955 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of Zillow Group during the first quarter valued at about $9,998,000. Nuveen LLC bought a new position in shares of Zillow Group during the first quarter valued at about $8,950,000. Finally, GAMMA Investing LLC grew its stake in shares of Zillow Group by 9,124.2% during the first quarter. GAMMA Investing LLC now owns 122,220 shares of the technology company's stock valued at $8,172,000 after buying an additional 120,895 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Zillow Group news, Director April Underwood sold 3,621 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $90.12, for a total value of $326,324.52. Following the completion of the sale, the director directly owned 483 shares in the company, valued at $43,527.96. This trade represents a 88.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Erik C. Blachford sold 966 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was 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 trade represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 657,087 shares of company stock valued at $56,286,479 over the last ninety days. 17.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ZG has been the topic of a number of recent research reports. KeyCorp reaffirmed an "overweight" rating and set a $92.00 price objective (up from $90.00) on shares of Zillow Group in a research note on Thursday, August 7th. DA Davidson raised their price objective on Zillow Group from $85.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Evercore ISI raised their target price on Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Canaccord Genuity Group raised their target price on Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Finally, Zelman & Associates raised Zillow Group to a "hold" rating in a research note on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $85.52.

Zillow Group Stock Performance

Shares of NASDAQ ZG traded down $1.41 during trading hours on Friday, hitting $84.34. The company's stock had a trading volume of 436,576 shares, compared to its average volume of 508,858. Zillow Group, Inc. has a 12 month low of $55.08 and a 12 month high of $88.45. The business has a 50-day simple moving average of $78.98 and a 200-day simple moving average of $71.31. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of -324.38, a P/E/G ratio of 23.49 and a beta of 2.02.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate 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 company had revenue of $655.00 million during the quarter, compared to analysts' expectations of $647.06 million. During the same quarter last year, the business earned $0.39 earnings per share. The business's quarterly revenue was up 14.5% on a year-over-year basis. On average, equities research analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current 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.