Legal & General Group Plc Decreases Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Legal & General Group Plc trimmed its holdings in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 21.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 84,164 shares of the technology company's stock after selling 23,286 shares during the quarter. Legal & General Group Plc's holdings in Zillow Group were worth $5,963,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ZG. Sierra Summit Advisors LLC bought a new stake in Zillow Group in the fourth quarter valued at approximately $556,000. Aster Capital Management DIFC Ltd bought a new stake in Zillow Group during the 4th quarter valued at $88,000. Envestnet Asset Management Inc. grew its holdings in Zillow Group by 13.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,137 shares of the technology company's stock worth $364,000 after acquiring an additional 600 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Zillow Group in the 4th quarter worth $453,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Zillow Group in the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 20.32% of the company's stock.

Zillow Group Price Performance

ZG stock traded up $0.62 on Friday, reaching $65.44. 53,687 shares of the company traded hands, compared to its average volume of 571,668. The firm has a fifty day simple moving average of $68.12 and a 200-day simple moving average of $70.69. Zillow Group, Inc. has a one year low of $38.06 and a one year high of $86.58. The company has a market cap of $15.87 billion, a P/E ratio of -139.48, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. On average, sell-side analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insider Transactions at Zillow Group

In other news, insider Errol G. Samuelson sold 2,854 shares of the business's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total value of $209,312.36. Following the completion of the transaction, the insider now owns 142,636 shares in the company, valued at $10,460,924.24. The trade was a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO David A. Beitel sold 2,025 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.75, for a total value of $157,443.75. Following the transaction, the chief technology officer now directly owns 151,046 shares in the company, valued at approximately $11,743,826.50. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,919 shares of company stock worth $7,869,478. Corporate insiders own 17.14% of the company's stock.

Wall Street Analysts Forecast Growth

ZG has been the topic of several recent analyst reports. William Blair began coverage on Zillow Group in a research note on Monday. They issued a "market perform" rating on the stock. Robert W. Baird assumed coverage on Zillow Group in a research note on Friday, January 31st. They set a "neutral" rating and a $88.00 target price on the stock. Keefe, Bruyette & Woods upgraded Zillow Group to a "hold" rating in a report on Friday, March 28th. Benchmark lifted their price target on shares of Zillow Group from $80.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald upped their price objective on shares of Zillow Group from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $81.05.

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.