GSA Capital Partners LLP Sells 19,124 Shares of Zillow Group, Inc. $ZG

GSA Capital Partners LLP cut its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 81.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,378 shares of the technology company’s stock after selling 19,124 shares during the period. GSA Capital Partners LLP’s holdings in Zillow Group were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Zillow Group during the 2nd quarter worth about $159,770,000. MFG Wealth Management Inc. bought a new position in Zillow Group during the 3rd quarter worth approximately $1,493,000. Aberdeen Group plc acquired a new position in Zillow Group during the third quarter valued at approximately $2,529,000. Y Intercept Hong Kong Ltd bought a new stake in Zillow Group in the third quarter valued at approximately $1,443,000. Finally, ABC Arbitrage SA raised its holdings in Zillow Group by 390.1% in the second quarter. ABC Arbitrage SA now owns 31,227 shares of the technology company’s stock worth $2,139,000 after purchasing an additional 24,856 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ZG. Piper Sandler reissued an “overweight” rating and issued a $70.00 price target (down from $85.00) on shares of Zillow Group in a report on Wednesday, February 11th. BNP Paribas Exane started coverage on Zillow Group in a report on Wednesday, January 14th. They set an “outperform” rating and a $85.00 target price on the stock. Mizuho set a $65.00 target price on Zillow Group in a research note on Wednesday, February 11th. Sanford C. Bernstein dropped their price target on Zillow Group from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Finally, Citigroup cut their price objective on Zillow Group from $100.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $78.05.

Insider Activity at Zillow Group

In related news, insider Dan Spaulding sold 5,361 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total transaction of $235,615.95. Following the completion of the transaction, the insider directly owned 41,080 shares of the company’s stock, valued at approximately $1,805,466. This represents a 11.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO David A. Beitel sold 3,966 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $44.22, for a total value of $175,376.52. Following the completion of the transaction, the chief technology officer owned 136,690 shares of the company’s stock, valued at approximately $6,044,431.80. This represents a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 62,007 shares of company stock worth $2,771,433. Corporate insiders own 17.14% of the company’s stock.

Zillow Group Stock Up 2.4%

NASDAQ:ZG opened at $46.52 on Friday. The company has a market cap of $11.16 billion, a P/E ratio of 516.95, a price-to-earnings-growth ratio of 2.54 and a beta of 2.04. Zillow Group, Inc. has a twelve month low of $41.90 and a twelve month high of $90.22. The business has a 50 day moving average price of $60.21 and a two-hundred day moving average price of $69.69.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The business had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. During the same period in the prior year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.