Bank of Montreal Can Reduces Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Bank of Montreal Can cut its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 57.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 60,076 shares of the technology company's stock after selling 80,176 shares during the period. Bank of Montreal Can's holdings in Zillow Group were worth $4,256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ZG. Norges Bank purchased a new stake in shares of Zillow Group during the fourth quarter worth about $165,326,000. Geode Capital Management LLC raised its holdings in shares of Zillow Group by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company's stock valued at $63,523,000 after acquiring an additional 32,766 shares during the last quarter. State Street Corp lifted its position in shares of Zillow Group by 0.4% in the third quarter. State Street Corp now owns 805,279 shares of the technology company's stock valued at $49,871,000 after acquiring an additional 2,832 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of Zillow Group by 101.3% in the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock worth $29,775,000 after acquiring an additional 211,482 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Zillow Group by 1,261.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock worth $18,454,000 after purchasing an additional 241,331 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company's stock.

Insiders Place Their Bets

In other news, CAO Jennifer Rock sold 5,796 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total transaction of $437,598.00. Following the transaction, the chief accounting officer now directly owns 51,370 shares in the company, valued at $3,878,435. The trade was a 10.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeremy Hofmann sold 1,612 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total transaction of $136,987.76. Following the completion of the sale, the chief financial officer now owns 99,362 shares of the company's stock, valued at approximately $8,443,782.76. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 98,919 shares of company stock valued at $7,869,478. Insiders own 17.14% of the company's stock.

Zillow Group Trading Up 0.1 %

NASDAQ:ZG traded up $0.07 during mid-day trading on Friday, hitting $61.49. The stock had a trading volume of 254,715 shares, compared to its average volume of 577,897. Zillow Group, Inc. has a twelve month low of $38.06 and a twelve month high of $86.58. The stock has a 50-day simple moving average of $69.22 and a two-hundred day simple moving average of $70.64. The company has a market capitalization of $14.91 billion, a PE ratio of -130.83, a PEG ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) EPS 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%. Sell-side analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ZG shares. Robert W. Baird initiated coverage on shares of Zillow Group in a research report on Friday, January 31st. They issued a "neutral" rating and a $88.00 target price for the company. Piper Sandler lowered their target price on Zillow Group from $93.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, February 12th. UBS Group cut their price target on Zillow Group from $98.00 to $85.00 and set a "buy" rating for the company in a report on Friday, April 11th. Benchmark boosted 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. Finally, Evercore ISI lifted their price target on Zillow Group from $75.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $81.05.

Zillow Group Company 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.