Allspring Global Investments Holdings LLC Sells 6,026 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Allspring Global Investments Holdings LLC lessened its position in Zillow Group, Inc. (NASDAQ:ZG) by 65.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,226 shares of the technology company’s stock after selling 6,026 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Zillow Group were worth $183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ZG. Creative Financial Designs Inc. ADV bought a new stake in Zillow Group during the 4th quarter valued at about $31,000. CWM LLC lifted its holdings in shares of Zillow Group by 100.0% during the third quarter. CWM LLC now owns 1,222 shares of the technology company’s stock valued at $55,000 after purchasing an additional 611 shares in the last quarter. AtonRa Partners bought a new stake in Zillow Group in the 3rd quarter worth about $206,000. Pathstone Family Office LLC purchased a new position in Zillow Group in the 3rd quarter worth about $217,000. Finally, New York Life Investment Management LLC purchased a new position in shares of Zillow Group during the third quarter valued at approximately $267,000. Institutional investors own 20.32% of the company’s stock.

Insider Buying and Selling at Zillow Group

In related news, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the sale, the insider now owns 168,863 shares in the company, valued at $8,375,604.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Errol G. Samuelson sold 4,219 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the completion of the transaction, the insider now owns 168,863 shares of the company’s stock, valued at approximately $8,375,604.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer Rock sold 7,352 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $57.29, for a total value of $421,196.08. Following the sale, the chief accounting officer now directly owns 56,384 shares in the company, valued at $3,230,239.36. The disclosure for this sale can be found here. Insiders sold 171,289 shares of company stock worth $9,642,508 in the last quarter. 17.14% of the stock is owned by corporate insiders.

Zillow Group Stock Performance

ZG opened at $43.13 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.24 and a current ratio of 3.24. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of -63.43 and a beta of 1.83. The company has a fifty day moving average of $48.50 and a 200 day moving average of $47.59. Zillow Group, Inc. has a fifty-two week low of $33.23 and a fifty-two week high of $59.23.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.06. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. The firm had revenue of $474.00 million during the quarter, compared to analyst estimates of $450.75 million. As a group, sell-side analysts forecast that Zillow Group, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America cut Zillow Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 10th. DA Davidson restated a “buy” rating and set a $63.00 target price on shares of Zillow Group in a research report on Friday, April 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of Zillow Group in a research note on Tuesday, March 5th. Susquehanna upped their price objective on Zillow Group from $36.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, Piper Sandler lifted their target price on Zillow Group from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Zillow Group has an average rating of “Hold” and an average target price of $58.79.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.