Rhumbline Advisers Reduces Position in Zillow Group, Inc. (NASDAQ:ZG)

Rhumbline Advisers lowered its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 7.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,688 shares of the technology company’s stock after selling 3,981 shares during the period. Rhumbline Advisers’ holdings in Zillow Group were worth $2,328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZG. International Assets Investment Management LLC grew its position in shares of Zillow Group by 96.8% in the fourth quarter. International Assets Investment Management LLC now owns 5,672 shares of the technology company’s stock valued at $322,000 after purchasing an additional 2,790 shares during the period. Quadrant Capital Group LLC boosted its holdings in Zillow Group by 45.1% in the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after acquiring an additional 237 shares during the last quarter. Norges Bank acquired a new position in Zillow Group in the fourth quarter valued at $102,096,000. UBS Group AG boosted its holdings in 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 acquiring an additional 177,265 shares during the last quarter. Finally, Oxford Asset Management LLP acquired a new position in Zillow Group in the fourth quarter valued at $499,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZG. Evercore ISI boosted their price objective on Zillow Group from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $50.00 to $80.00 in a report on Monday. Benchmark boosted their price objective on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald assumed coverage on Zillow Group in a report on Thursday, September 5th. They set a “neutral” rating and a $47.00 target price for the company. Finally, DA Davidson reaffirmed a “buy” rating and set a $52.00 target price on shares of Zillow Group in a report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.82.

Insider Buying and Selling at Zillow Group

In other news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the sale, the director now owns 5,652 shares in the company, valued at $379,983.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thielke Claire Cormier sold 2,826 shares of Zillow Group stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.11, for a total transaction of $172,696.86. Following the completion of the transaction, the director now owns 2,826 shares in the company, valued at approximately $172,696.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 221,999 shares of company stock worth $11,780,363. Insiders own 17.14% of the company’s stock.

Zillow Group Stock Performance

Shares of ZG stock opened at $65.79 on Friday. The company has a fifty day moving average price of $51.15 and a two-hundred day moving average price of $47.14. Zillow Group, Inc. has a one year low of $33.23 and a one year high of $66.75. The stock has a market cap of $15.54 billion, a P/E ratio of -95.35 and a beta of 2.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate 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 last year, the company posted ($0.05) EPS. As a group, equities analysts predict that Zillow Group, Inc. will post -0.33 EPS 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.