Geode Capital Management LLC Decreases Stake in Zillow Group, Inc. $ZG

Geode Capital Management LLC lowered its position in Zillow Group, Inc. (NASDAQ:ZG) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,050,820 shares of the technology company’s stock after selling 18,836 shares during the period. Geode Capital Management LLC’s holdings in Zillow Group were worth $71,697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DoubleLine ETF Adviser LP lifted its holdings in Zillow Group by 4.9% in the 3rd quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock valued at $239,000 after purchasing an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Zillow Group by 4.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock valued at $256,000 after purchasing an additional 156 shares in the last quarter. Signaturefd LLC lifted its holdings in Zillow Group by 10.4% in the 4th quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after purchasing an additional 161 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after purchasing an additional 187 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Zillow Group by 23.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock valued at $80,000 after purchasing an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Insider Activity

In related news, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $37.97, for a total transaction of $111,593.83. Following the completion of the sale, the insider directly owned 134,039 shares of the company’s stock, valued at approximately $5,089,460.83. This trade represents a 2.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,501 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $205,737.40. Following the sale, the chief financial officer directly owned 68,315 shares of the company’s stock, valued at $2,554,981. The trade was a 7.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 42,119 shares of company stock worth $1,578,206. 29.88% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays decreased their price objective on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. UBS Group decreased their price objective on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. KeyCorp decreased their price objective on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Citigroup restated a “market outperform” rating on shares of Zillow Group in a report on Tuesday, May 26th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Zillow Group in a research note on Friday, May 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Zillow Group currently has an average rating of “Hold” and a consensus target price of $71.24.

Zillow Group Trading Down 1.8%

Shares of NASDAQ:ZG opened at $34.77 on Tuesday. The business has a 50-day moving average price of $40.49 and a 200 day moving average price of $52.65. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 139.08, a PEG ratio of 1.51 and a beta of 1.95. Zillow Group, Inc. has a 12-month low of $34.50 and a 12-month high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. As a group, equities research analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Zillow Group Company Profile

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.