Envestnet Portfolio Solutions Inc. Trims Stake in Zillow Group, Inc. (NASDAQ:ZG)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 53.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,992 shares of the technology company's stock after selling 30,446 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Zillow Group were worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ZG. L & S Advisors Inc bought a new position in shares of Zillow Group during the third quarter worth approximately $1,579,000. Mirabella Financial Services LLP bought a new stake in Zillow Group during the third quarter worth $11,351,000. JPMorgan Chase & Co. boosted its holdings in shares of Zillow Group by 155.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company's stock valued at $2,060,000 after purchasing an additional 20,238 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Zillow Group by 28.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company's stock valued at $1,753,000 after purchasing an additional 5,539 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Zillow Group by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company's stock worth $63,523,000 after buying an additional 32,766 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company's stock.

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Zillow Group Stock Performance

ZG traded down $0.23 during midday trading on Tuesday, reaching $72.07. The company had a trading volume of 462,581 shares, compared to its average volume of 577,473. Zillow Group, Inc. has a 12-month low of $38.06 and a 12-month high of $86.58. The business has a 50-day moving average price of $75.07 and a two-hundred day moving average price of $70.22. The stock has a market cap of $17.48 billion, a PE ratio of -153.34, a P/E/G ratio of 8.90 and a beta of 2.33.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate 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%. On average, research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Activity at Zillow Group

In related news, insider Errol G. Samuelson sold 6,967 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $541,475.24. Following the sale, the insider now directly owns 127,467 shares in the company, valued at approximately $9,906,735.24. The trade was a 5.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jun Choo sold 1,277 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the transaction, the chief operating officer now owns 86,853 shares of the company's stock, valued at approximately $6,750,215.16. This represents a 1.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,065 shares of company stock worth $7,660,165. Company insiders own 17.14% of the company's stock.

Analyst Ratings Changes

ZG has been the topic of a number of analyst reports. Baird R W upgraded Zillow Group to a "hold" rating in a research report on Friday, January 31st. Citigroup raised their target price on Zillow Group from $95.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Evercore ISI boosted their price target on Zillow Group from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Susquehanna raised their price objective on shares of Zillow Group from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald raised their price target on shares of Zillow Group from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.25.

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.