Raymond James & Associates Sells 24,977 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Raymond James & Associates cut its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG – Get Rating) by 10.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,365 shares of the technology company’s stock after selling 24,977 shares during the quarter. Raymond James & Associates’ holdings in Zillow Group were worth $6,441,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Ellevest Inc. increased its stake in Zillow Group by 179.8% in the fourth quarter. Ellevest Inc. now owns 943 shares of the technology company’s stock valued at $29,000 after acquiring an additional 606 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Zillow Group by 69.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the technology company’s stock valued at $53,000 after acquiring an additional 441 shares during the last quarter. Prudential PLC acquired a new stake in Zillow Group in the first quarter valued at approximately $144,000. Toronto Dominion Bank boosted its position in Zillow Group by 75.6% in the third quarter. Toronto Dominion Bank now owns 5,746 shares of the technology company’s stock valued at $164,000 after buying an additional 2,473 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in Zillow Group in the first quarter valued at approximately $185,000. 20.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ZG has been the topic of a number of research analyst reports. Evercore ISI upgraded shares of Zillow Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $34.00 to $61.00 in a research report on Monday, February 13th. Piper Sandler raised their target price on shares of Zillow Group from $31.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, February 7th. Canaccord Genuity Group raised their target price on shares of Zillow Group from $48.00 to $52.00 and gave the company a “hold” rating in a research report on Thursday, February 16th. Bank of America lifted their price target on shares of Zillow Group from $54.00 to $55.00 in a report on Thursday, May 4th. Finally, Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.90.

Zillow Group Price Performance

NASDAQ:ZG opened at $44.52 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 12.70 and a quick ratio of 12.70. The firm has a 50-day moving average of $43.33 and a 200-day moving average of $40.10. Zillow Group, Inc. has a one year low of $26.21 and a one year high of $48.48.

Zillow Group (NASDAQ:ZG – Get Rating) last posted its earnings results on Wednesday, May 3rd. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.22. Zillow Group had a negative net margin of 5.80% and a negative return on equity of 2.19%. The company had revenue of $469.00 million during the quarter, compared to the consensus estimate of $421.37 million. As a group, analysts anticipate that Zillow Group, Inc. will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zillow Group news, General Counsel Bradley D. Owens sold 946 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $44.67, for a total value of $42,257.82. Following the completion of the sale, the general counsel now directly owns 28,756 shares of the company’s stock, valued at approximately $1,284,530.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zillow Group news, General Counsel Bradley D. Owens sold 946 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $44.67, for a total value of $42,257.82. Following the transaction, the general counsel now directly owns 28,756 shares in the company, valued at $1,284,530.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeremy Wacksman sold 7,361 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $44.94, for a total transaction of $330,803.34. Following the completion of the transaction, the chief operating officer now owns 93,256 shares in the company, valued at $4,190,924.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,147 shares of company stock valued at $2,140,511. Corporate insiders own 18.52% of the company’s stock.

About Zillow Group

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Zillow Group, Inc engages in the provision of real estate and home-related information marketplaces on mobile and the web. It operates through the following segments: Internet, Media, and Technology (IMT), Mortgages, and Homes. The IMT segment includes premier agent, rentals marketplaces, and new construction marketplaces, and sale of other advertising and business technology solutions for real estate professionals.