Zillow Group, Inc. $ZG Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 46.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 579,182 shares of the technology company’s stock after selling 492,780 shares during the quarter. Wellington Management Group LLP owned approximately 0.26% of Zillow Group worth $18,169,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arax Advisory Partners raised its holdings in 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. acquired a new stake in shares of Zillow Group in the fourth quarter valued at approximately $34,000. Kestra Advisory Services LLC acquired a new stake in shares of Zillow Group in the fourth quarter valued at approximately $47,000. Quarry LP purchased a new position in Zillow Group during the fourth quarter worth approximately $56,000. Finally, Global Retirement Partners LLC boosted its stake 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 worth $58,000 after buying an additional 826 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Price Performance

Shares of ZG stock opened at $35.32 on Monday. Zillow Group, Inc. has a 1-year low of $29.03 and a 1-year high of $90.22. The firm has a market cap of $7.94 billion, a PE ratio of 160.55, a price-to-earnings-growth ratio of 1.54 and a beta of 1.97. The company has a 50-day moving average of $34.15 and a two-hundred day moving average of $38.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The firm had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 EPS. Sell-side analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Analyst Ratings Changes

ZG has been the subject of a number of recent research reports. Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a research note on Monday, August 24th. The Goldman Sachs Group lowered their price target on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. Susquehanna dropped their price objective on shares of Zillow Group from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. KeyCorp reaffirmed an “overweight” rating and set a $48.00 target price on shares of Zillow Group in a research note on Tuesday, August 25th. Finally, Deutsche Bank Aktiengesellschaft set a $80.00 target price on shares of Zillow Group in a research note on Monday, August 24th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $53.14.

Insider Buying and Selling at Zillow Group

In other news, insider Errol Samuelson sold 3,154 shares of Zillow Group stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $107,992.96. Following the completion of the sale, the insider directly owned 130,885 shares of the company’s stock, valued at approximately $4,481,502.40. The trade was a 2.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $319,207.02. Following the transaction, the chief executive officer directly owned 138,574 shares in the company, valued at approximately $4,736,459.32. The trade was a 6.31% 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 90 days, insiders sold 38,539 shares of company stock valued at $1,323,800. Corporate insiders own 29.88% 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.