Vanguard Group Inc. Trims Position in Zillow Group, Inc. (NASDAQ:ZG)

Vanguard Group Inc. decreased its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,323,942 shares of the technology company's stock after selling 271,185 shares during the quarter. Vanguard Group Inc. owned 2.71% of Zillow Group worth $283,249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Baker Avenue Asset Management LP increased its stake in shares of Zillow Group by 8.9% in the third quarter. Baker Avenue Asset Management LP now owns 17,903 shares of the technology company's stock valued at $802,000 after buying an additional 1,463 shares during the period. Royal Bank of Canada increased its stake in shares of Zillow Group by 3.0% in the third quarter. Royal Bank of Canada now owns 89,000 shares of the technology company's stock valued at $3,986,000 after buying an additional 2,605 shares during the period. Corton Capital Inc. increased its stake in shares of Zillow Group by 21.6% in the third quarter. Corton Capital Inc. now owns 15,521 shares of the technology company's stock valued at $695,000 after buying an additional 2,754 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Zillow Group by 50.5% in the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company's stock valued at $42,397,000 after buying an additional 317,683 shares during the period. Finally, Algert Global LLC acquired a new stake in Zillow Group during the 3rd quarter valued at approximately $417,000. Institutional investors and hedge funds own 20.32% of the company's stock.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 7,352 shares of the firm's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $57.29, for a total transaction of $421,196.08. Following the transaction, the chief accounting officer now directly owns 56,384 shares in the company, valued at approximately $3,230,239.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Jennifer Rock sold 7,352 shares of the firm's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $57.29, for a total transaction of $421,196.08. Following the completion of the sale, the chief accounting officer now directly owns 56,384 shares of the company's stock, valued at approximately $3,230,239.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeremy Hofmann sold 4,636 shares of the firm's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total value of $268,888.00. Following the sale, the chief financial officer now directly owns 104,251 shares of the company's stock, valued at $6,046,558. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,289 shares of company stock worth $9,642,508. Corporate insiders own 17.14% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ZG. Piper Sandler increased their target price on shares of Zillow Group from $70.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, February 14th. Susquehanna increased their target price on shares of Zillow Group from $36.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, February 15th. Stephens reissued an "overweight" rating and set a $79.00 target price on shares of Zillow Group in a research report on Wednesday, February 14th. Barclays increased their price target on Zillow Group from $32.00 to $40.00 and gave the stock an "underweight" rating in a report on Wednesday, February 21st. Finally, JMP Securities increased their price target on Zillow Group from $60.00 to $68.00 and gave the stock a "market outperform" rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Zillow Group presently has a consensus rating of "Moderate Buy" and an average target price of $58.71.

Zillow Group Stock Down 3.5 %

Shares of ZG traded down $1.75 during trading hours on Friday, reaching $47.86. The stock had a trading volume of 748,620 shares, compared to its average volume of 931,062. Zillow Group, Inc. has a 12 month low of $33.23 and a 12 month high of $59.23. The firm has a 50-day simple moving average of $52.75 and a 200 day simple moving average of $47.73. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of -70.38 and a beta of 1.85.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.06. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. The company had revenue of $474.00 million for the quarter, compared to analysts' expectations of $450.75 million. Equities research analysts predict that Zillow Group, Inc. will post -0.15 earnings per share 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.