New York State Common Retirement Fund Lowers Holdings in Zillow Group, Inc. (NASDAQ:ZG)

New York State Common Retirement Fund reduced its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,400 shares of the technology company’s stock after selling 4,255 shares during the period. New York State Common Retirement Fund’s holdings in Zillow Group were worth $2,518,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ZG. Handelsbanken Fonder AB increased its holdings in shares of Zillow Group by 37.7% in the 4th quarter. Handelsbanken Fonder AB now owns 10,600 shares of the technology company’s stock worth $601,000 after buying an additional 2,900 shares during the last quarter. CWM LLC increased its stake in Zillow Group by 3,675.7% in the fourth quarter. CWM LLC now owns 46,139 shares of the technology company’s stock valued at $2,617,000 after acquiring an additional 44,917 shares during the last quarter. abrdn plc raised its position in Zillow Group by 110.8% during the fourth quarter. abrdn plc now owns 18,328 shares of the technology company’s stock valued at $1,004,000 after purchasing an additional 9,633 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its stake in Zillow Group by 1.1% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 38,154 shares of the technology company’s stock worth $2,207,000 after purchasing an additional 416 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Zillow Group by 96.8% in the 4th quarter. International Assets Investment Management LLC now owns 5,672 shares of the technology company’s stock worth $322,000 after purchasing an additional 2,790 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ZG shares. Citigroup decreased their price objective on Zillow Group from $68.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Stephens reaffirmed an “overweight” rating and issued a $79.00 price objective on shares of Zillow Group in a research note on Wednesday, February 14th. Piper Sandler lifted their target price on shares of Zillow Group from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Canaccord Genuity Group cut their price target on shares of Zillow Group from $58.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, April 29th. Finally, JMP Securities decreased their price objective on Zillow Group from $68.00 to $62.00 and set a “market outperform” rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 7,352 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $57.29, for a total value of $421,196.08. Following the sale, the chief accounting officer now owns 56,384 shares in the company, valued at $3,230,239.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of Zillow Group stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the completion of the transaction, 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 can be accessed through this link. Also, CAO Jennifer Rock sold 7,352 shares of the business’s stock in a transaction 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 completion of 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. Over the last 90 days, insiders sold 171,289 shares of company stock valued at $9,642,508. 17.14% of the stock is currently owned by company insiders.

Zillow Group Stock Performance

Shares of ZG opened at $42.36 on Wednesday. The company has a 50-day simple moving average of $47.02 and a two-hundred day simple moving average of $47.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.32 and a quick ratio of 3.32. The firm has a market capitalization of $9.89 billion, a PE ratio of -61.39 and a beta of 1.87. Zillow Group, Inc. has a one year low of $33.23 and a one year high of $59.23.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 13th. The technology company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.06. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. The company had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $450.75 million. On average, analysts anticipate that Zillow Group, Inc. will post -0.18 EPS for the current fiscal year.

Zillow Group Company Profile

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.