Alliancebernstein L.P. Sells 4,828 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Alliancebernstein L.P. reduced its holdings in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 31.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,586 shares of the technology company's stock after selling 4,828 shares during the period. Alliancebernstein L.P.'s holdings in Zillow Group were worth $750,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Zillow Group during the 4th quarter valued at about $165,326,000. Geode Capital Management LLC grew its position in Zillow Group by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company's stock worth $63,523,000 after acquiring an additional 32,766 shares in the last quarter. Virtu Financial LLC increased its stake 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 last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Zillow Group by 1,261.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock valued at $18,454,000 after purchasing an additional 241,331 shares in the last quarter. Finally, Great Lakes Advisors LLC boosted its holdings in Zillow Group by 2.8% in the fourth 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 in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zillow Group

In other Zillow Group news, CTO David A. Beitel sold 2,025 shares of Zillow Group stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.75, for a total transaction of $157,443.75. Following the completion of the sale, the chief technology officer now owns 151,046 shares of the company's stock, valued at approximately $11,743,826.50. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jun Choo sold 55,000 shares of Zillow Group stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total value of $4,299,900.00. Following the sale, the chief operating officer now directly owns 86,853 shares of the company's stock, valued at approximately $6,790,167.54. This trade represents a 38.77 % 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. Corporate insiders own 17.14% of the company's stock.

Zillow Group Stock Performance

Shares of NASDAQ ZG traded up $1.87 during mid-day trading on Wednesday, hitting $63.65. 248,627 shares of the stock were exchanged, compared to its average volume of 575,434. The company has a market cap of $15.44 billion, a P/E ratio of -135.52, a PEG ratio of 8.90 and a beta of 2.22. Zillow Group, Inc. has a twelve month low of $38.06 and a twelve month high of $86.58. The stock's fifty day simple moving average is $68.64 and its two-hundred day simple moving average is $70.70.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its 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 predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ZG has been the topic of a number of recent analyst reports. Robert W. Baird assumed coverage on shares of Zillow Group in a research report on Friday, January 31st. They issued a "neutral" rating and a $88.00 price target on the stock. Citigroup decreased their price target 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. Benchmark lifted their price objective on Zillow Group from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Susquehanna increased their target price on Zillow Group from $75.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, Evercore ISI upped their target price on shares of Zillow Group from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Zillow Group has a consensus rating of "Moderate Buy" and a consensus price target of $81.05.

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.