CreativeOne Wealth LLC Decreases Position in Zillow Group, Inc. $ZG

CreativeOne Wealth LLC lessened its stake in Zillow Group, Inc. (NASDAQ:ZG) by 18.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,507 shares of the technology company’s stock after selling 16,720 shares during the quarter. CreativeOne Wealth LLC’s holdings in Zillow Group were worth $5,546,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Zillow Group in the second quarter valued at $159,770,000. MFG Wealth Management Inc. bought a new position in shares of Zillow Group during the 3rd quarter worth $1,493,000. Aberdeen Group plc bought a new position in shares of Zillow Group during the 3rd quarter worth $2,529,000. Y Intercept Hong Kong Ltd purchased a new stake in Zillow Group in the 3rd quarter worth about $1,443,000. Finally, ABC Arbitrage SA increased its holdings in Zillow Group by 390.1% in the 2nd quarter. ABC Arbitrage SA now owns 31,227 shares of the technology company’s stock worth $2,139,000 after acquiring an additional 24,856 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Bradley D. Owens sold 2,602 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $44.42, for a total transaction of $115,580.84. Following the completion of the transaction, the general counsel directly owned 33,355 shares in the company, valued at $1,481,629.10. The trade was a 7.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Hofmann sold 7,786 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total transaction of $340,481.78. Following the completion of the transaction, the chief financial officer directly owned 57,487 shares in the company, valued at approximately $2,513,906.51. The trade was a 11.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 60,801 shares of company stock worth $2,683,986. Company insiders own 17.14% of the company’s stock.

Zillow Group Stock Down 2.2%

ZG stock opened at $45.97 on Monday. The stock has a 50-day simple moving average of $57.45 and a two-hundred day simple moving average of $68.12. Zillow Group, Inc. has a twelve month low of $41.90 and a twelve month high of $90.22. The firm has a market capitalization of $11.03 billion, a PE ratio of 510.83, a PEG ratio of 2.57 and a beta of 2.06.

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

Analyst Upgrades and Downgrades

Several research firms have commented on ZG. Wells Fargo & Company dropped their price objective on shares of Zillow Group from $73.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 10th. The Goldman Sachs Group reduced their target price on shares of Zillow Group from $78.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, February 11th. Barclays lowered their price target on shares of Zillow Group from $72.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. Susquehanna set a $50.00 price target on shares of Zillow Group in a research note on Thursday, February 12th. Finally, DA Davidson set a $75.00 price objective on shares of Zillow Group in a report on Thursday, February 12th. Fourteen equities 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.05.

Zillow Group Company Profile

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.