Zillow Group, Inc. $ZG Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard trimmed its stake in Zillow by 5.5%, selling 392,241 shares and leaving it with 6,676,232 shares (2.76% ownership) valued at about $455.5 million, while several hedge funds—including M&T Bank—significantly increased their positions.
• Insider selling accelerated: CEO Jeremy Wacksman and CFO Jeremy Hofmann sold shares in February, insiders sold 60,801 shares over the past 90 days and now own 29.88% of the company.
• Wall Street’s consensus is a “Moderate Buy” with a $76.45 target; Zillow trades around $43.88, has a high P/E (~487.6), and recently missed EPS by $0.03 despite revenue rising 18.1% year-over-year.

Vanguard Group Inc. cut its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,676,232 shares of the technology company's stock after selling 392,241 shares during the quarter. Vanguard Group Inc. owned 2.76% of Zillow Group worth $455,519,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. M&T Bank Corp lifted its holdings in shares of Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company's stock valued at $120,092,000 after purchasing an additional 1,600,097 shares during the last quarter. Virtu Financial LLC increased its stake in Zillow Group by 271.9% in the 3rd quarter. Virtu Financial LLC now owns 293,718 shares of the technology company's stock worth $21,864,000 after purchasing an additional 214,743 shares in the last quarter. Wellington Management Group LLP raised its holdings in Zillow Group by 60.1% during the 3rd quarter. Wellington Management Group LLP now owns 557,735 shares of the technology company's stock worth $41,518,000 after buying an additional 209,312 shares during the period. Millennium Management LLC raised its holdings in Zillow Group by 110.8% during the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company's stock worth $19,456,000 after buying an additional 152,955 shares during the period. Finally, Qube Research & Technologies Ltd lifted its stake in Zillow Group by 179.1% during the third quarter. Qube Research & Technologies Ltd now owns 175,200 shares of the technology company's stock valued at $13,042,000 after buying an additional 112,417 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jeremy Wacksman sold 13,661 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $44.25, for a total value of $604,499.25. Following the completion of the sale, the chief executive officer owned 116,322 shares of the company's stock, valued at approximately $5,147,248.50. The trade was a 10.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeremy Hofmann sold 7,786 shares of the firm's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78. Following the transaction, the chief financial officer directly owned 57,487 shares in the company, valued at approximately $2,513,906.51. The trade was a 11.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 60,801 shares of company stock worth $2,683,986. Insiders own 29.88% of the company's stock.

Wall Street Analysts Forecast Growth

ZG has been the topic of several analyst reports. The Goldman Sachs Group reissued a "neutral" rating on shares of Zillow Group in a research report on Tuesday, March 17th. DA Davidson set a $75.00 price target on shares of Zillow Group in a research report on Thursday, February 12th. Mizuho set a $65.00 price objective on shares of Zillow Group in a research note on Wednesday, February 11th. Evercore reissued an "outperform" rating on shares of Zillow Group in a research note on Tuesday, March 17th. Finally, Barclays reduced their target price on Zillow Group from $66.00 to $58.00 and set an "equal weight" rating for the company in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.45.

Zillow Group Stock Down 0.9%

Zillow Group stock opened at $43.88 on Wednesday. The company's fifty day simple moving average is $43.65 and its 200-day simple moving average is $58.22. Zillow Group, Inc. has a 12 month low of $39.14 and a 12 month high of $90.22. The stock has a market cap of $10.53 billion, a P/E ratio of 487.61, a P/E/G ratio of 2.17 and a beta of 2.04.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $654.00 million for the quarter, compared to analysts' expectations of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.Zillow Group's revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 earnings per share. On average, equities research analysts expect that Zillow Group, Inc. will post 0.82 earnings per share for the current fiscal year.

Zillow Group Company Profile

Zillow Group NASDAQ: ZG is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow's core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.

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