Verition Fund Management LLC Sells 229,287 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Verition Fund Management LLC decreased its stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 94.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,157 shares of the technology company's stock after selling 229,287 shares during the period. Verition Fund Management LLC's holdings in Zillow Group were worth $815,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new stake in shares of Zillow Group during the 3rd quarter valued at about $29,000. GAMMA Investing LLC grew its position in Zillow Group by 86.7% during the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company's stock valued at $75,000 after buying an additional 561 shares during the period. Signaturefd LLC increased its holdings in Zillow Group by 29.7% during the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company's stock valued at $71,000 after buying an additional 360 shares during the last quarter. Walleye Capital LLC bought a new position in Zillow Group in the third quarter worth approximately $212,000. Finally, Atria Investments Inc bought a new position in Zillow Group in the third quarter worth approximately $231,000. Hedge funds and other institutional investors own 20.32% of the company's stock.

Insider Buying and Selling

In related news, CAO Jennifer Rock sold 3,033 shares of Zillow Group stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $82.78, for a total transaction of $251,071.74. Following the completion of the transaction, the chief accounting officer now directly owns 57,166 shares of the company's stock, valued at approximately $4,732,201.48. The trade was a 5.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thielke Claire Cormier sold 2,826 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $61.11, for a total transaction of $172,696.86. Following the completion of the sale, the director now directly owns 2,826 shares in the company, valued at $172,696.86. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,140 shares of company stock worth $11,955,195. Corporate insiders own 17.14% of the company's stock.

Zillow Group Price Performance

NASDAQ ZG traded down $0.14 during trading on Tuesday, hitting $78.79. 309,836 shares of the stock traded hands, compared to its average volume of 612,747. 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 12-month low of $38.06 and a 12-month high of $83.67. The firm has a 50-day simple moving average of $67.77 and a 200-day simple moving average of $56.12. The company has a market capitalization of $18.40 billion, a P/E ratio of -138.23 and a beta of 2.08.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $581.00 million for the quarter, compared to analysts' expectations of $555.45 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. Zillow Group's quarterly revenue was up 17.1% on a year-over-year basis. As a group, analysts predict that Zillow Group, Inc. will post -0.34 EPS for the current year.

Analyst Ratings Changes

ZG has been the subject of a number of recent research reports. Canaccord Genuity Group upped 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. Wedbush raised Zillow Group from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $50.00 to $80.00 in a report on Monday, September 16th. Piper Sandler raised their price objective on Zillow Group from $73.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday. Evercore ISI boosted their price objective on Zillow Group from $55.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Barclays raised their target price on shares of Zillow Group from $36.00 to $50.00 and gave the stock an "underweight" rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.