Strs Ohio Reduces Stock Position in Zillow Group, Inc. $ZG

Strs Ohio cut its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 95.6% during the first quarter, HoldingsChannel.com reports. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Arax Advisory Partners lifted its holdings in shares of Zillow Group by 402.3% in the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after acquiring an additional 354 shares during the last quarter. First Command Advisory Services Inc. bought a new stake in Zillow Group during the fourth quarter worth approximately $34,000. Kestra Advisory Services LLC bought a new stake in Zillow Group during the fourth quarter worth approximately $47,000. Quarry LP purchased a new stake in Zillow Group during the fourth quarter valued at approximately $56,000. Finally, Global Retirement Partners LLC raised its position in Zillow Group by 4,130.0% during the fourth quarter. Global Retirement Partners LLC now owns 846 shares of the technology company’s stock valued at $58,000 after purchasing an additional 826 shares during the period. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ZG. Barclays dropped their target price on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. UBS Group decreased their price target on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. BTIG Research restated a “neutral” rating on shares of Zillow Group in a research report on Thursday, June 11th. Mizuho dropped their price objective on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Finally, Cantor Fitzgerald cut their price objective on shares of Zillow Group from $56.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.48.

Insider Activity at Zillow Group

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,364 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $37.23, for a total value of $125,241.72. Following the transaction, the general counsel owned 65,245 shares of the company’s stock, valued at $2,429,071.35. This represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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, CEO Jeremy Wacksman sold 9,072 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the sale, the chief executive officer owned 153,699 shares in the company, valued at approximately $5,616,161.46. The trade was a 5.57% 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. Insiders have sold 42,910 shares of company stock worth $1,605,732 over the last quarter. 29.88% of the stock is owned by insiders.

Zillow Group Price Performance

Shares of NASDAQ:ZG opened at $31.94 on Tuesday. Zillow Group, Inc. has a 1 year low of $29.03 and a 1 year high of $90.22. The business has a 50 day simple moving average of $35.16 and a two-hundred day simple moving average of $45.95. The firm has a market capitalization of $7.31 billion, a PE ratio of 127.76, a price-to-earnings-growth ratio of 1.37 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, May 6th. The technology company reported $0.53 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 firm had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.17 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. Equities research analysts expect that Zillow Group, Inc. will post 0.9 EPS for the current fiscal 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.