Wellington Management Group LLP Sells 18,804,637 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Wellington Management Group LLP trimmed its position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 97.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 584,003 shares of the technology company's stock after selling 18,804,637 shares during the period. Wellington Management Group LLP owned approximately 0.25% of Zillow Group worth $36,167,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Zillow Group by 0.4% during the 3rd quarter. State Street Corp now owns 805,279 shares of the technology company's stock valued at $49,871,000 after purchasing an additional 2,832 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Zillow Group by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company's stock valued at $19,901,000 after buying an additional 35,503 shares during the last quarter. Selkirk Management LLC lifted its position in Zillow Group by 37.4% during the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company's stock worth $14,449,000 after acquiring an additional 87,300 shares during the last quarter. US Bancorp DE grew its position in shares of Zillow Group by 6.5% in the third quarter. US Bancorp DE now owns 297,819 shares of the technology company's stock valued at $18,444,000 after purchasing an additional 18,136 shares during the last quarter. Finally, Cynosure Group LLC acquired a new position in shares of Zillow Group during the 3rd quarter worth about $12,248,000. Institutional investors own 20.32% of the company's stock.

Zillow Group Price Performance

ZG stock traded down $0.54 on Friday, hitting $76.86. The company's stock had a trading volume of 87,585 shares, compared to its average volume of 608,595. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. Zillow Group, Inc. has a 1 year low of $38.06 and a 1 year high of $83.67. The firm has a 50 day moving average of $68.43 and a two-hundred day moving average of $56.43.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.03. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The firm had revenue of $581.00 million for the quarter, compared to analysts' expectations of $555.45 million. During the same period in the prior year, the company earned ($0.12) EPS. The firm's revenue was up 17.1% on a year-over-year basis. Research analysts expect that Zillow Group, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, Director Thielke Claire Cormier sold 2,826 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.11, for a total value of $172,696.86. Following the completion of the sale, the director now directly owns 2,826 shares of the company's stock, valued at approximately $172,696.86. This represents a 50.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO David A. Beitel sold 56,750 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the sale, the chief technology officer now owns 92 shares in the company, valued at approximately $6,659.88. The trade was a 99.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,140 shares of company stock valued at $11,955,195. 17.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ZG shares. The Goldman Sachs Group lifted their target price on Zillow Group from $42.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Piper Sandler lifted their target price on Zillow Group from $73.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. JMP Securities increased their price objective on Zillow Group from $62.00 to $82.00 and gave the company a "market outperform" rating in a report on Thursday, November 7th. UBS Group raised their price target on Zillow Group from $70.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Finally, Canaccord Genuity Group boosted their target price on shares of Zillow Group from $64.00 to $86.00 and gave the company a "hold" rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $72.12.

Zillow Group 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.