Prudential Financial Inc. Cuts Position in Zillow Group, Inc. (NASDAQ:ZG)

Prudential Financial Inc. decreased its holdings in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 34.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,353 shares of the technology company's stock after selling 12,431 shares during the period. Prudential Financial Inc.'s holdings in Zillow Group were worth $1,655,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its position in shares of Zillow Group by 24.0% in the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company's stock valued at $58,000 after acquiring an additional 159 shares during the period. Blue Trust Inc. raised its holdings in shares of Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company's stock valued at $30,000 after purchasing an additional 172 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Zillow Group by 0.6% during the fourth quarter. Baillie Gifford & Co. now owns 92,025 shares of the technology company's stock valued at $6,520,000 after buying an additional 509 shares during the last quarter. Ieq Capital LLC increased its stake in shares of Zillow Group by 4.9% in the fourth quarter. Ieq Capital LLC now owns 12,123 shares of the technology company's stock worth $859,000 after purchasing an additional 566 shares in the last quarter. Finally, Asset Dedication LLC purchased a new stake in shares of Zillow Group in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 20.32% of the company's stock.

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Analyst Upgrades and Downgrades

ZG has been the subject of several research reports. Citigroup increased their price objective on shares of Zillow Group from $95.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Royal Bank of Canada reiterated an "outperform" rating and set a $88.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. DA Davidson increased their target price on shares of Zillow Group from $75.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Benchmark increased their target price on shares of Zillow Group from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Finally, Bank of America raised their price target on shares of Zillow Group from $81.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Zillow Group has a consensus rating of "Moderate Buy" and a consensus price target of $82.25.

Insiders Place Their Bets

In other Zillow Group news, insider Errol G. Samuelson sold 2,854 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the transaction, the insider now directly owns 142,636 shares in the company, valued at $10,460,924.24. This represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO David A. Beitel sold 2,025 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer now owns 151,046 shares in the company, valued at $11,743,826.50. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 98,919 shares of company stock worth $7,869,478 over the last three months. Company insiders own 17.14% of the company's stock.

Zillow Group Stock Performance

Shares of ZG stock traded down $2.45 on Thursday, hitting $62.51. 77,648 shares of the stock traded hands, compared to its average volume of 623,867. The firm's 50-day moving average price is $72.25 and its two-hundred day moving average price is $70.79. The stock has a market capitalization of $15.16 billion, a PE ratio of -133.00, 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.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share 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, equities research analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

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.