LPL Financial LLC Decreases Stake in Zillow Group, Inc. (NASDAQ:ZG)

LPL Financial LLC lessened its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,934 shares of the technology company’s stock after selling 880 shares during the period. LPL Financial LLC’s holdings in Zillow Group were worth $845,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ZG. Virtu Financial LLC raised its position in Zillow Group by 101.3% in the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock worth $29,775,000 after acquiring an additional 211,482 shares during the period. Great Lakes Advisors LLC raised its holdings in shares of Zillow Group by 2.8% in the 4th quarter. Great Lakes Advisors LLC now owns 228,934 shares of the technology company’s stock worth $16,220,000 after purchasing an additional 6,319 shares during the period. Raymond James Financial Inc. purchased a new position in Zillow Group in the fourth quarter valued at approximately $14,916,000. NINE MASTS CAPITAL Ltd grew its holdings in Zillow Group by 47.4% during the fourth quarter. NINE MASTS CAPITAL Ltd now owns 163,658 shares of the technology company’s stock valued at $11,595,000 after purchasing an additional 52,622 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in Zillow Group by 0.6% during the fourth quarter. Baillie Gifford & Co. now owns 92,025 shares of the technology company’s stock valued at $6,520,000 after purchasing an additional 509 shares during the period. 20.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Evercore ISI upped their price target on Zillow Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald lifted their target price on shares of Zillow Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Citigroup cut their price objective on shares of Zillow Group from $98.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Baird R W upgraded Zillow Group to a “hold” rating in a research report on Friday, January 31st. Finally, DA Davidson reiterated a “buy” rating and issued a $90.00 price target on shares of Zillow Group in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.05.

Zillow Group Stock Performance

Zillow Group stock opened at $59.44 on Tuesday. Zillow Group, Inc. has a fifty-two week low of $38.06 and a fifty-two week high of $86.58. The firm’s fifty day moving average price is $68.91 and its 200-day moving average price is $70.76. The stock has a market cap of $14.42 billion, a P/E ratio of -126.47, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. On average, analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jeremy Hofmann sold 23,388 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.98, for a total value of $1,987,512.24. Following the completion of the sale, the chief financial officer now owns 99,362 shares of the company’s stock, valued at approximately $8,443,782.76. The trade was a 19.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer Rock sold 5,796 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total value of $437,598.00. Following the transaction, the chief accounting officer now owns 51,370 shares in the company, valued at approximately $3,878,435. The trade was a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,919 shares of company stock valued at $7,869,478 over the last quarter. 17.14% of the stock is owned by corporate insiders.

Zillow Group 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.