Great Lakes Advisors LLC Decreases Stock Holdings in Zillow Group, Inc. $ZG

Great Lakes Advisors LLC reduced its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 96.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,329 shares of the technology company’s stock after selling 184,984 shares during the quarter. Great Lakes Advisors LLC’s holdings in Zillow Group were worth $471,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lavaca Capital LLC raised its stake in Zillow Group by 67.0% during the second quarter. Lavaca Capital LLC now owns 1,670 shares of the technology company’s stock valued at $114,000 after purchasing an additional 670 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Zillow Group by 207.0% in the 2nd quarter. Assetmark Inc. now owns 1,980 shares of the technology company’s stock worth $136,000 after buying an additional 1,335 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Zillow Group by 79.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,021 shares of the technology company’s stock valued at $138,000 after buying an additional 892 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Zillow Group in the 3rd quarter valued at about $201,000. Finally, Capital Advisors Wealth Management LLC bought a new position in shares of Zillow Group in the 3rd quarter valued at about $204,000. Institutional investors own 20.32% of the company’s stock.

Zillow Group Stock Down 0.8%

ZG stock opened at $61.75 on Tuesday. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of -441.04, a PEG ratio of 3.61 and a beta of 2.04. Zillow Group, Inc. has a twelve month low of $56.63 and a twelve month high of $90.22. The business’s fifty day simple moving average is $68.54 and its two-hundred day simple moving average is $73.35.

Analysts Set New Price Targets

ZG has been the topic of several analyst reports. Piper Sandler reissued an “overweight” rating and set a $85.00 price objective (down from $94.00) on shares of Zillow Group in a research note on Friday, October 31st. The Goldman Sachs Group reissued a “neutral” rating and set a $78.00 target price on shares of Zillow Group in a research report on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Oppenheimer started coverage on Zillow Group in a research report on Monday, October 6th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Zillow Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.83.

Insider Activity

In other Zillow Group news, CEO Jeremy Wacksman sold 10,855 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $69.99, for a total value of $759,741.45. Following the completion of the sale, the chief executive officer directly owned 134,712 shares in the company, valued at approximately $9,428,492.88. This represents a 7.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dan Spaulding sold 5,455 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $69.40, for a total value of $378,577.00. Following the transaction, the insider directly owned 50,342 shares in the company, valued at $3,493,734.80. The trade was a 9.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 67,511 shares of company stock valued at $4,766,357. Insiders own 17.14% of the company’s stock.

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.