Envestnet Portfolio Solutions Inc. Sells 30,446 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 53.0% in the fourth quarter, HoldingsChannel reports. The firm owned 26,992 shares of the technology company’s stock after selling 30,446 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Zillow Group were worth $1,912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its position in Zillow Group by 70.2% during the 4th 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 last quarter. Asset Dedication LLC purchased a new position in shares of Zillow Group during the 4th quarter worth approximately $47,000. Assetmark Inc. grew its holdings in shares of Zillow Group by 18,875.0% during the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock worth $54,000 after acquiring an additional 755 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Zillow Group by 24.0% during the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after acquiring an additional 159 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Zillow Group during the 4th quarter worth approximately $63,000. Institutional investors own 20.32% of the company’s stock.

Insider Activity

In related news, COO Jun Choo sold 55,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total value of $4,299,900.00. Following the transaction, the chief operating officer now directly owns 86,853 shares of the company’s stock, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeremy Hofmann sold 1,612 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,065 shares of company stock valued at $7,660,165 in the last ninety days. 17.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ZG has been the topic of a number of research analyst reports. Susquehanna upped their target price on Zillow Group from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Stephens reiterated an “overweight” rating and set a $73.00 target price on shares of Zillow Group in a report on Wednesday, February 12th. Cantor Fitzgerald upped their target price on Zillow Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. JMP Securities upped their price target on Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a research note on Monday, December 16th. Finally, Bank of America upped their price target on Zillow Group from $81.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.25.

Zillow Group Trading Up 0.6 %

Shares of ZG opened at $69.27 on Friday. The business’s fifty day simple moving average is $74.96 and its two-hundred day simple moving average is $69.71. The company has a market cap of $16.80 billion, a price-to-earnings ratio of -147.38, a P/E/G ratio of 8.90 and a beta of 2.33. 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 quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. As a group, research analysts forecast that Zillow Group, Inc. will post 0.32 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.