Rhumbline Advisers Trims Stake in Zillow Group, Inc. (NASDAQ:ZG)

Rhumbline Advisers lessened its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,265 shares of the technology company’s stock after selling 3,460 shares during the period. Rhumbline Advisers’ holdings in Zillow Group were worth $3,349,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ZG. Blue Trust Inc. lifted its position in Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after purchasing an additional 172 shares during the period. Creative Planning lifted its holdings in Zillow Group by 7.2% in the third quarter. Creative Planning now owns 6,537 shares of the technology company’s stock valued at $405,000 after acquiring an additional 439 shares during the period. Asset Dedication LLC acquired a new position in Zillow Group in the fourth quarter valued at approximately $47,000. Vontobel Holding Ltd. boosted its position in Zillow Group by 4.9% in the 4th quarter. Vontobel Holding Ltd. now owns 17,208 shares of the technology company’s stock worth $1,219,000 after purchasing an additional 801 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of Zillow Group by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 91,516 shares of the technology company’s stock worth $5,668,000 after purchasing an additional 811 shares during the period. Institutional investors own 20.32% of the company’s stock.

Insider Activity

In other Zillow Group news, COO Jun Choo sold 1,277 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the sale, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,750,215.16. This trade represents a 1.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO David A. Beitel sold 2,025 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.75, for a total transaction of $157,443.75. Following the completion of the transaction, the chief technology officer now directly owns 151,046 shares of the company’s stock, 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. In the last 90 days, insiders sold 44,098 shares of company stock worth $3,611,337. 17.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ZG shares. Canaccord Genuity Group boosted their price objective on Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price target on shares of Zillow Group in a research note on Wednesday, February 12th. DA Davidson raised their price target on shares of Zillow Group from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Robert W. Baird started coverage on Zillow Group in a research note on Friday, January 31st. They set a “neutral” rating and a $88.00 target price for the company. Finally, Benchmark upped their price target on Zillow Group from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Zillow Group Trading Up 0.7 %

Shares of ZG opened at $74.39 on Friday. The stock has a 50 day moving average of $75.28 and a 200 day moving average of $68.17. The company has a market capitalization of $18.04 billion, a price-to-earnings ratio of -158.28, a PEG ratio of 8.90 and a beta of 2.09. Zillow Group, Inc. has a 12 month low of $38.06 and a 12 month high of $86.58.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts predict that Zillow Group, Inc. will post 0.32 earnings per share 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.