Strs Ohio Sells 25,002 Shares of Zillow Group, Inc. $ZG

Strs Ohio cut its stake in shares of Zillow Group, Inc. (NASDAQ:ZG) by 95.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,152 shares of the technology company’s stock after selling 25,002 shares during the period. Strs Ohio’s holdings in Zillow Group were worth $48,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZG. M&T Bank Corp grew its holdings in shares of Zillow Group by 38,344.0% in the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares during the period. Polianta Ltd purchased a new position in Zillow Group in the first quarter worth about $1,494,000. Independent Franchise Partners LLP boosted its position in Zillow Group by 1.1% in the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock worth $138,135,000 after purchasing an additional 21,862 shares during the last quarter. Norges Bank bought a new stake in shares of Zillow Group during the 4th quarter valued at about $152,050,000. Finally, Deltroit Asset Management UK LLP bought a new stake in shares of Zillow Group during the 4th quarter valued at about $2,715,000. 20.32% of the stock is owned by institutional investors.

Zillow Group Stock Down 0.2%

ZG stock opened at $31.94 on Tuesday. Zillow Group, Inc. has a twelve month low of $29.03 and a twelve month high of $90.22. The stock has a market cap of $7.31 billion, a P/E ratio of 127.76, a PEG ratio of 1.37 and a beta of 1.95. The business’s 50-day moving average price is $35.16 and its 200-day moving average price is $45.95.

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

Insider Transactions at Zillow Group

In other Zillow Group news, 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 transaction 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. This trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 3,078 shares of the company’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 $115,117.20. Following the completion of the transaction, the insider directly owned 49,696 shares of the company’s stock, valued at approximately $1,858,630.40. This trade represents a 5.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last quarter, insiders sold 42,910 shares of company stock valued at $1,605,732. Company insiders own 29.88% of the company’s stock.

Analysts Set New Price Targets

ZG has been the topic of several recent research reports. Sanford C. Bernstein upgraded shares of Zillow Group from an “outperform” rating to a “buy” rating in a research note on Tuesday, May 26th. Barclays cut their target price on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Evercore reaffirmed an “outperform” rating on shares of Zillow Group in a report on Tuesday, March 17th. BTIG Research reiterated a “neutral” rating on shares of Zillow Group in a research report on Thursday, June 11th. Finally, Citigroup reiterated a “market outperform” rating on shares of Zillow Group in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.48.

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.