Royal London Asset Management Ltd. Trims Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Royal London Asset Management Ltd. lowered its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 35.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,637 shares of the technology company's stock after selling 6,903 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Zillow Group were worth $783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Philadelphia Financial Management of San Francisco LLC bought a new stake in Zillow Group during the third quarter valued at about $9,813,000. Pinpoint Asset Management Ltd purchased a new stake in Zillow Group in the third quarter valued at about $95,000. Maven Securities LTD purchased a new stake in Zillow Group in the third quarter valued at about $891,000. Walleye Capital LLC purchased a new stake in Zillow Group in the third quarter valued at about $212,000. Finally, PEAK6 Investments LLC purchased a new stake in Zillow Group in the third quarter valued at about $424,000. Institutional investors own 20.32% of the company's stock.

Insider Buying and Selling at Zillow Group

In other news, General Counsel Bradley D. Owens sold 1,212 shares of Zillow Group stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total value of $89,663.76. Following the sale, the general counsel now directly owns 31,739 shares of the company's stock, valued at $2,348,051.22. The trade was a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Susan Daimler sold 3,484 shares of Zillow Group stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the sale, the insider now directly owns 22,464 shares in the company, valued at $1,217,099.52. This represents a 13.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,591 shares of company stock valued at $11,892,886. Company insiders own 17.14% of the company's stock.

Analyst Upgrades and Downgrades

ZG has been the subject of a number of research analyst reports. Evercore ISI increased their price target on Zillow Group from $55.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Craig Hallum increased their price target on Zillow Group from $70.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. JMP Securities raised their price objective on Zillow Group from $62.00 to $82.00 and gave the stock a "market outperform" rating in a research note on Thursday, November 7th. Canaccord Genuity Group raised their price objective on Zillow Group from $64.00 to $86.00 and gave the stock a "hold" rating in a research note on Monday, December 2nd. Finally, Susquehanna raised their price objective on Zillow Group from $55.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Zillow Group has an average rating of "Moderate Buy" and an average target price of $72.12.

Zillow Group Price Performance

Zillow Group stock traded down $0.21 during midday trading on Monday, hitting $79.07. 188,186 shares of the company were exchanged, compared to its average volume of 613,720. Zillow Group, Inc. has a fifty-two week low of $38.06 and a fifty-two week high of $83.67. The business has a fifty day simple moving average of $67.11 and a two-hundred day simple moving average of $55.57. 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 (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 the consensus estimate of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The company had revenue of $581.00 million for the quarter, compared to analyst estimates of $555.45 million. During the same period last year, the company earned ($0.12) earnings per share. Zillow Group's quarterly revenue was up 17.1% compared to the same quarter last year. Research analysts forecast that Zillow Group, Inc. will post -0.34 earnings per share for the current 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.