Algert Global LLC Sells 1,411 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Algert Global LLC trimmed its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 5.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,319 shares of the technology company’s stock after selling 1,411 shares during the period. Algert Global LLC’s holdings in Zillow Group were worth $1,506,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mark Asset Management LP acquired a new position in shares of Zillow Group during the second quarter valued at about $4,524,000. Selkirk Management LLC raised its position in shares of Zillow Group by 37.4% during the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after buying an additional 87,300 shares during the last quarter. Garde Capital Inc. raised its position in shares of Zillow Group by 132.7% during the second quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock valued at $6,297,000 after buying an additional 79,733 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Zillow Group by 93.3% during the third quarter. Thrivent Financial for Lutherans now owns 142,917 shares of the technology company’s stock valued at $8,851,000 after buying an additional 68,984 shares during the last quarter. Finally, Virtu Financial LLC raised its position in shares of Zillow Group by 176.6% during the second quarter. Virtu Financial LLC now owns 89,943 shares of the technology company’s stock valued at $4,051,000 after buying an additional 57,426 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors.

Insider Activity

In other Zillow Group news, Director Erik C. Blachford sold 1,413 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $54.87, for a total value of $77,531.31. Following the transaction, the director now directly owns 35,403 shares of the company’s stock, valued at approximately $1,942,562.61. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thielke Claire Cormier sold 2,826 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.11, for a total transaction of $172,696.86. Following the completion of the transaction, the director now directly owns 2,826 shares in the company, valued at approximately $172,696.86. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,439 shares of company stock valued at $11,576,823 over the last three months. 17.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on ZG shares. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price objective (up previously from $62.00) on shares of Zillow Group in a research report on Thursday, November 7th. Barclays upped their price objective on shares of Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. JMP Securities increased their price target on shares of Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $47.00 price target on shares of Zillow Group in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.65.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $82.33 on Friday. Zillow Group, Inc. has a 1-year low of $38.06 and a 1-year high of $83.25. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $64.89 and its two-hundred day moving average price is $53.64. The stock has a market capitalization of $19.23 billion, a price-to-earnings ratio of -144.44 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The business had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $555.45 million. During the same period in the prior year, the firm earned ($0.12) earnings per share. Zillow Group’s revenue was up 17.1% compared to the same quarter last year. On average, equities analysts predict that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

About Zillow Group

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.