Renaissance Technologies LLC Sells 50,937 Shares of Zillow Group, Inc. $ZG

Renaissance Technologies LLC reduced its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 18.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 220,763 shares of the technology company’s stock after selling 50,937 shares during the quarter. Renaissance Technologies LLC’s holdings in Zillow Group were worth $9,137,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Zillow Group during the fourth quarter worth approximately $152,050,000. Independent Franchise Partners LLP grew its holdings in Zillow Group by 1.1% during the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after purchasing an additional 21,862 shares during the period. M&T Bank Corp increased its holdings in shares of Zillow Group by 38,344.0% in the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares in the last quarter. Tiger Global Management LLC raised its stake in shares of Zillow Group by 30.7% in the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after purchasing an additional 240,690 shares during the period. Finally, UBS Group AG boosted its position in Zillow Group by 44.5% during the fourth quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after purchasing an additional 313,643 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Insider Activity at Zillow Group

In related news, CFO Jeremy Hofmann sold 5,501 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $205,737.40. Following the completion of the sale, the chief financial officer owned 68,315 shares in the company, valued at approximately $2,554,981. This trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.97, for a total value of $111,593.83. Following the transaction, the insider owned 134,039 shares of the company’s stock, valued at approximately $5,089,460.83. The trade was a 2.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 42,910 shares of company stock worth $1,605,732 in the last 90 days. Company insiders own 29.88% of the company’s stock.

Zillow Group Stock Performance

Zillow Group stock opened at $34.69 on Monday. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 138.76, a price-to-earnings-growth ratio of 1.48 and a beta of 1.95. Zillow Group, Inc. has a 12 month low of $29.03 and a 12 month high of $90.22. The business’s fifty day simple moving average is $33.23 and its two-hundred day simple moving average is $42.48.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.Zillow Group’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, equities research analysts predict that Zillow Group, Inc. will post 0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. UBS Group cut their price objective on shares of Zillow Group from $75.00 to $50.00 and set a “buy” rating for the company in a report on Friday. Royal Bank Of Canada cut their target price on shares of Zillow Group to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 10th. Mizuho decreased their price objective on Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. The Goldman Sachs Group reduced their price target on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, June 12th. Finally, Piper Sandler reduced their price target on Zillow Group from $70.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.29.

Zillow Group 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.