Amundi Cuts Holdings in Zillow Group, Inc. $ZG

Amundi decreased its stake in Zillow Group, Inc. (NASDAQ:ZG) by 8.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,536 shares of the technology company’s stock after selling 5,488 shares during the quarter. Amundi’s holdings in Zillow Group were worth $3,847,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Driehaus Capital Management LLC acquired a new stake in shares of Zillow Group in the first quarter valued at about $9,998,000. Trexquant Investment LP purchased a new stake in Zillow Group during the 1st quarter worth approximately $370,000. D L Carlson Investment Group Inc. purchased a new stake in Zillow Group during the 1st quarter worth approximately $3,052,000. Ieq Capital LLC increased its stake in Zillow Group by 3.6% during the 1st quarter. Ieq Capital LLC now owns 12,560 shares of the technology company’s stock worth $840,000 after buying an additional 437 shares in the last quarter. Finally, Independent Franchise Partners LLP increased its stake in Zillow Group by 1.8% during the 1st quarter. Independent Franchise Partners LLP now owns 2,060,399 shares of the technology company’s stock worth $137,758,000 after buying an additional 36,046 shares in the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Trading Up 3.9%

ZG opened at $85.75 on Friday. The firm has a market capitalization of $20.77 billion, a PE ratio of -329.81, a PEG ratio of 8.65 and a beta of 2.02. Zillow Group, Inc. has a twelve month low of $53.68 and a twelve month high of $88.45. The firm’s 50-day moving average price is $78.70 and its 200 day moving average price is $71.29.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Richard N. Barton sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $84.92, for a total value of $16,984,000.00. Following the completion of the transaction, the chairman directly owned 843,248 shares in the company, valued at approximately $71,608,620.16. This represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dan Spaulding sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.91, for a total value of $8,591,000.00. Following the completion of the transaction, the insider owned 68,889 shares of the company’s stock, valued at $5,918,253.99. The trade was a 59.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 657,087 shares of company stock valued at $56,286,479 in the last ninety days. Company insiders own 17.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ZG. Royal Bank Of Canada boosted their price objective on Zillow Group from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Barclays reiterated an “underweight” rating and set a $66.00 price objective (up from $60.00) on shares of Zillow Group in a research note on Thursday, August 7th. Canaccord Genuity Group boosted their price objective on Zillow Group from $76.00 to $84.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Wells Fargo & Company lowered their price target on shares of Zillow Group from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, KeyCorp restated an “overweight” rating and set a $92.00 price target (up from $90.00) on shares of Zillow Group in a research report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Zillow Group has a consensus rating of “Hold” and an average price target of $85.52.

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.