Zillow Group, Inc. $ZG Position Trimmed by Independent Franchise Partners LLP

Independent Franchise Partners LLP decreased its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 1.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,002,694 shares of the technology company’s stock after selling 35,823 shares during the quarter. Zillow Group accounts for 1.0% of Independent Franchise Partners LLP’s holdings, making the stock its 24th largest position. Independent Franchise Partners LLP’s holdings in Zillow Group were worth $149,081,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ZG. Wealth Enhancement Advisory Services LLC lifted its position in shares of Zillow Group by 4.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock valued at $256,000 after acquiring an additional 156 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after acquiring an additional 187 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Zillow Group by 23.1% during the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock worth $80,000 after purchasing an additional 194 shares during the period. PFG Investments LLC raised its position in shares of Zillow Group by 4.4% during the third quarter. PFG Investments LLC now owns 4,743 shares of the technology company’s stock worth $353,000 after purchasing an additional 200 shares during the period. Finally, New York Life Investment Management LLC lifted its holdings in shares of Zillow Group by 4.4% during the third quarter. New York Life Investment Management LLC now owns 5,070 shares of the technology company’s stock valued at $377,000 after purchasing an additional 214 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Trading Up 3.3%

Shares of ZG stock opened at $42.15 on Friday. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 468.39, a P/E/G ratio of 2.28 and a beta of 2.05. Zillow Group, Inc. has a 1-year low of $40.69 and a 1-year high of $90.22. The stock’s fifty day simple moving average is $54.94 and its 200-day simple moving average is $66.97.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The business had revenue of $654.00 million during the quarter, compared to analysts’ expectations of $650.40 million. During the same period in the prior year, the company posted $0.27 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. On average, sell-side analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jeremy Wacksman sold 13,661 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total transaction of $604,499.25. Following the transaction, the chief executive officer directly owned 116,322 shares of the company’s stock, valued at approximately $5,147,248.50. The trade was a 10.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dan Spaulding sold 5,361 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $43.95, for a total transaction of $235,615.95. Following the completion of the transaction, the insider owned 41,080 shares in the company, valued at approximately $1,805,466. This represents a 11.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 60,801 shares of company stock valued at $2,683,986 over the last ninety days. Insiders own 17.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ZG shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Zillow Group in a research report on Monday, December 15th. KeyCorp cut their price objective on Zillow Group from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. DA Davidson set a $75.00 price objective on shares of Zillow Group in a research note on Thursday, February 12th. Piper Sandler reiterated an “overweight” rating and issued a $70.00 target price (down from $85.00) on shares of Zillow Group in a report on Wednesday, February 11th. Finally, UBS Group set a $80.00 target price on shares of Zillow Group in a research report on Wednesday, February 11th. Fourteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.05.

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.