UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in Zillow Group, Inc. (NASDAQ:ZG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 88.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,284 shares of the technology company's stock after selling 490,947 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Zillow Group were worth $3,857,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new position in Zillow Group during the 3rd quarter worth about $29,000. Signaturefd LLC lifted its position in shares of Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company's stock worth $71,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC boosted its stake in shares of Zillow Group by 86.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company's stock valued at $75,000 after purchasing an additional 561 shares during the last quarter. Maryland State Retirement & Pension System bought a new position in Zillow Group during the second quarter worth $202,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Zillow Group by 9.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company's stock valued at $210,000 after buying an additional 421 shares during the period. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Performance

ZG stock traded down $0.56 on Friday, hitting $76.84. The company had a trading volume of 304,749 shares, compared to its average volume of 609,504. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. Zillow Group, Inc. has a 12-month low of $38.06 and a 12-month high of $83.67. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of -134.81 and a beta of 2.08. The stock's 50-day simple moving average is $68.74 and its 200 day simple moving average is $56.69.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.03. The business had revenue of $581.00 million during the quarter, compared to the consensus estimate of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) EPS. As a group, equities research analysts expect that Zillow Group, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ZG has been the topic of a number of research reports. DA Davidson upped their target price on Zillow Group from $71.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Evercore ISI upped their price objective on shares of Zillow Group from $55.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on shares of Zillow Group from $42.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. UBS Group boosted their target price on shares of Zillow Group from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $47.00 target price on shares of Zillow Group in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $72.12.

Insiders Place Their Bets

In other news, CTO David A. Beitel sold 56,750 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the transaction, the chief technology officer now owns 92 shares of the company's stock, valued at approximately $6,659.88. The trade was a 99.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer Rock sold 3,033 shares of the firm's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $82.78, for a total value of $251,071.74. Following the completion of the sale, the chief accounting officer now owns 57,166 shares of the company's stock, valued at approximately $4,732,201.48. This represents a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,140 shares of company stock worth $11,955,195 over the last three months. 17.14% of the stock is currently owned by company insiders.

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.