Zillow Group, Inc. $ZG Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in shares of Zillow Group, Inc. (NASDAQ:ZG) by 46.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 579,182 shares of the technology company’s stock after selling 492,780 shares during the quarter. Wellington Management Group LLP’s holdings in Zillow Group were worth $18,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in Zillow Group by 10.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the technology company’s stock valued at $147,000 after purchasing an additional 198 shares in the last quarter. Lido Advisors LLC raised its holdings in Zillow Group by 0.4% in the fourth quarter. Lido Advisors LLC now owns 50,846 shares of the technology company’s stock valued at $3,627,000 after acquiring an additional 215 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in Zillow Group by 1.4% in the second quarter. Royal London Asset Management Ltd. now owns 18,217 shares of the technology company’s stock valued at $1,248,000 after acquiring an additional 247 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Zillow Group by 8.5% in the third quarter. Mackenzie Financial Corp now owns 3,301 shares of the technology company’s stock worth $246,000 after acquiring an additional 258 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in Zillow Group by 9.2% in the second quarter. California State Teachers Retirement System now owns 3,147 shares of the technology company’s stock worth $216,000 after acquiring an additional 264 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZG has been the topic of a number of recent analyst reports. Susquehanna dropped their price objective on shares of Zillow Group from $50.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Piper Sandler dropped their target price on Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. UBS Group cut their price target on Zillow Group from $75.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, Evercore set a $40.00 price target on Zillow Group and gave the stock an “in-line” rating in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.14.

Insider Activity at Zillow Group

In related news, CEO Jeremy Wacksman sold 9,339 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of the sale, the chief executive officer directly owned 138,574 shares of the company’s stock, valued at $4,736,459.32. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, insider Dan Spaulding sold 3,169 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the sale, the insider directly owned 44,561 shares of the company’s stock, valued at approximately $1,576,122.57. This trade represents a 6.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 38,539 shares of company stock valued at $1,323,800. Corporate insiders own 29.88% of the company’s stock.

Zillow Group Price Performance

NASDAQ ZG opened at $35.32 on Monday. The firm’s fifty day moving average price is $34.15 and its 200 day moving average price is $38.22. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 160.55, a price-to-earnings-growth ratio of 1.54 and a beta of 1.97. Zillow Group, Inc. has a 12 month low of $29.03 and a 12 month high of $90.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.25 million. During the same period in the previous year, the company earned $0.40 earnings per share. Zillow Group’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Zillow Group, Inc. will post 0.89 earnings per share for the current 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.