Allspring Global Investments Holdings LLC Sells 624 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Allspring Global Investments Holdings LLC lessened its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 28.5% during the third quarter, HoldingsChannel.com reports. The firm owned 1,568 shares of the technology company’s stock after selling 624 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Zillow Group were worth $97,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZG. Mark Asset Management LP acquired a new position in shares of Zillow Group in the second quarter valued at $4,524,000. Selkirk Management LLC lifted its holdings in shares of Zillow Group by 37.4% in the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock worth $14,449,000 after acquiring an additional 87,300 shares during the last quarter. Garde Capital Inc. lifted its holdings in shares of Zillow Group by 132.7% in the second quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock worth $6,297,000 after acquiring an additional 79,733 shares during the last quarter. US Bancorp DE lifted its holdings 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 acquiring an additional 73,504 shares during the last quarter. Finally, Virtu Financial LLC raised its holdings in Zillow Group by 176.6% in the 2nd quarter. Virtu Financial LLC now owns 89,943 shares of the technology company’s stock valued at $4,051,000 after buying an additional 57,426 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

Zillow Group Stock Up 1.4 %

ZG stock opened at $58.50 on Tuesday. Zillow Group, Inc. has a twelve month low of $34.33 and a twelve month high of $66.75. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a market cap of $13.54 billion, a P/E ratio of -98.69 and a beta of 2.02. The business’s 50-day moving average price is $58.73 and its 200-day moving average price is $49.86.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. During the same quarter last year, the company earned ($0.05) EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities research analysts forecast that Zillow Group, Inc. will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Susquehanna boosted their price target on shares of Zillow Group from $42.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Citigroup boosted their price target on shares of Zillow Group from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. DA Davidson lifted their price objective on shares of Zillow Group from $52.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Evercore ISI lifted their price objective on shares of Zillow Group from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and a consensus target price of $61.53.

Insider Activity

In other news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, General Counsel Bradley D. Owens sold 752 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the completion of the sale, the general counsel now directly owns 35,259 shares in the company, valued at $1,873,310.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Amy Bohutinsky sold 20,625 shares of the company’s 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 of the company’s stock, valued at $379,983.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,999 shares of company stock valued at $11,780,363. 17.14% of the stock is currently owned by insiders.

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.