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

Great Lakes Advisors LLC reduced its position in Zillow Group, Inc. (NASDAQ:ZG) by 96.7% during the third quarter, Holdings Channel reports. The institutional investor 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 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Zillow Group during the second quarter valued at approximately $159,770,000. Millennium Management LLC increased its position in shares of Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after purchasing an additional 152,955 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Zillow Group during the 2nd quarter valued at $4,300,000. Barrier Capital Management LLC boosted its position in shares of Zillow Group by 59.9% in the 2nd quarter. Barrier Capital Management LLC now owns 123,743 shares of the technology company’s stock worth $8,475,000 after purchasing an additional 46,360 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC acquired a new stake in shares of Zillow Group in the 2nd quarter worth $2,691,000. Institutional investors own 20.32% of the company’s stock.

Zillow Group Stock Down 0.8%

Shares of NASDAQ ZG opened at $61.75 on Tuesday. The business’s 50 day moving average price is $68.54 and its 200 day moving average price is $73.35. The firm has a market cap of $14.95 billion, a P/E ratio of -441.04, a P/E/G ratio of 3.61 and a beta of 2.04. Zillow Group, Inc. has a 52 week low of $56.63 and a 52 week high of $90.22.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $78.00 price target on shares of Zillow Group in a research note on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Citigroup reaffirmed a “market outperform” rating on shares of Zillow Group in a research report on Monday, January 12th. Mizuho reissued a “neutral” rating and set a $70.00 target price (down previously from $100.00) on shares of Zillow Group in a research report on Friday, January 9th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zillow Group in a research note on Monday, December 15th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.83.

Insiders Place Their Bets

In other news, CEO Jeremy Wacksman sold 10,855 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $69.99, for a total value of $759,741.45. Following the sale, the chief executive officer owned 134,712 shares in the company, valued at $9,428,492.88. This represents a 7.46% 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. Also, CFO Jeremy Hofmann sold 7,865 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $69.53, for a total transaction of $546,853.45. Following the transaction, the chief financial officer owned 70,811 shares of the company’s stock, valued at $4,923,488.83. This represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 67,511 shares of company stock worth $4,766,357. Company 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.