Garner Asset Management Corp Sells 4,200 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Garner Asset Management Corp cut its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 16.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 20,762 shares of the technology company’s stock after selling 4,200 shares during the period. Garner Asset Management Corp’s holdings in Zillow Group were worth $935,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ZG. Vanguard Group Inc. boosted its position in shares of Zillow Group by 27.4% during the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after buying an additional 1,730,731 shares during the period. Norges Bank bought a new position in shares of Zillow Group during the 4th quarter worth approximately $102,096,000. Dimensional Fund Advisors LP raised its holdings in shares of Zillow Group by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock valued at $19,901,000 after purchasing an additional 35,503 shares during the last quarter. UBS Group AG raised its holdings in shares of Zillow Group by 73.0% in the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after purchasing an additional 177,265 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Zillow Group by 42.6% in the first quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after purchasing an additional 73,504 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors.

Insider Activity at Zillow Group

In related news, Chairman Lloyd D. Frink sold 150,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the sale, the chairman now directly owns 582 shares in the company, valued at $29,583.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zillow Group news, General Counsel Bradley D. Owens sold 752 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total transaction of $39,953.76. Following the sale, the general counsel now owns 35,259 shares of the company’s stock, valued at $1,873,310.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now directly owns 582 shares of the company’s stock, valued at $29,583.06. The disclosure for this sale can be found here. Insiders have sold a total of 201,374 shares of company stock valued at $10,393,745 in the last 90 days. 17.14% of the stock is owned by corporate insiders.

Zillow Group Trading Up 3.8 %

Shares of ZG stock opened at $63.20 on Thursday. The stock has a 50 day simple moving average of $50.80 and a 200 day simple moving average of $47.02. Zillow Group, Inc. has a 1 year low of $33.23 and a 1 year high of $65.60. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a market cap of $14.93 billion, a P/E ratio of -91.59 and a beta of 2.00.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. The business had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. On average, research analysts predict that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZG has been the topic of several recent research reports. DA Davidson reiterated a “buy” rating and issued a $52.00 price target on shares of Zillow Group in a research note on Tuesday, June 18th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $50.00 to $80.00 in a report on Monday. UBS Group lifted their target price on Zillow Group from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Craig Hallum increased their price target on Zillow Group from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Barclays raised their target price on shares of Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and an average target price of $59.82.

About Zillow Group

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.