L & S Advisors Inc Reduces Holdings in Zillow Group, Inc. (NASDAQ:ZG)

L & S Advisors Inc lowered its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 5.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,096 shares of the technology company’s stock after selling 1,404 shares during the quarter. L & S Advisors Inc’s holdings in Zillow Group were worth $1,707,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Zillow Group in the fourth quarter worth approximately $165,326,000. Long Corridor Asset Management Ltd lifted its stake in shares of Zillow Group by 5.6% in the 4th quarter. Long Corridor Asset Management Ltd now owns 59,395 shares of the technology company’s stock valued at $4,208,000 after purchasing an additional 3,146 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Zillow Group by 101.3% during the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock worth $29,775,000 after purchasing an additional 211,482 shares during the period. Summit Global Investments acquired a new stake in shares of Zillow Group during the 4th quarter worth about $364,000. Finally, Royal London Asset Management Ltd. raised its holdings in Zillow Group by 20.8% in the 4th quarter. Royal London Asset Management Ltd. now owns 15,270 shares of the technology company’s stock valued at $1,082,000 after buying an additional 2,633 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 target price on shares of Zillow Group in a research note on Wednesday, February 12th. Robert W. Baird initiated coverage on shares of Zillow Group in a research report on Friday, January 31st. They set a “neutral” rating and a $88.00 price objective for the company. Canaccord Genuity Group lifted their target price on shares of Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Piper Sandler decreased their price target on Zillow Group from $93.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Finally, Baird R W raised Zillow Group to a “hold” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Zillow Group has a consensus rating of “Moderate Buy” and an average target price of $82.25.

Zillow Group Trading Down 2.3 %

Shares of NASDAQ:ZG opened at $67.20 on Friday. Zillow Group, Inc. has a 52 week low of $38.06 and a 52 week high of $86.58. The company’s 50 day moving average is $74.84 and its two-hundred day moving average is $70.57. The company has a market cap of $16.30 billion, a PE ratio of -142.98, a P/E/G ratio of 8.90 and a beta of 2.33.

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

Insider Transactions at Zillow Group

In related news, COO Jun Choo sold 1,277 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the sale, the chief operating officer now directly owns 86,853 shares of the company’s stock, valued at $6,750,215.16. The trade was a 1.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 23,388 shares of the firm’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 transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. The trade was a 19.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,919 shares of company stock valued at $7,869,478. Corporate insiders own 17.14% of the company’s stock.

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.