MFG Wealth Management Inc. Cuts Stock Position in Zillow Group, Inc. (NASDAQ:ZG)

MFG Wealth Management Inc. trimmed its stake in shares of Zillow Group, Inc. (NASDAQ:ZG) by 44.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 16,608 shares of the technology company’s stock after selling 13,305 shares during the quarter. MFG Wealth Management Inc.’s holdings in Zillow Group were worth $1,110,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Zillow Group in the 4th quarter worth $165,326,000. Arrowstreet Capital Limited Partnership increased its position in Zillow Group by 1,261.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock worth $18,454,000 after purchasing an additional 241,331 shares during the last quarter. Virtu Financial LLC increased its position in Zillow Group by 101.3% during the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock worth $29,775,000 after purchasing an additional 211,482 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Zillow Group during the fourth quarter worth about $14,916,000. Finally, Sone Capital Management LLC acquired a new position in Zillow Group in the 4th quarter valued at about $11,185,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Insider Buying and Selling

In related news, COO Jun Choo sold 11,725 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $68.77, for a total transaction of $806,328.25. Following the completion of the sale, the chief operating officer now owns 130,186 shares in the company, valued at $8,952,891.22. The trade was a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik C. Blachford sold 965 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.35, for a total transaction of $67,887.75. Following the completion of the transaction, the director now owns 35,474 shares in the company, valued at $2,495,595.90. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,093 shares of company stock worth $6,989,688. Company insiders own 17.14% of the company’s stock.

Zillow Group Stock Down 2.4%

NASDAQ:ZG opened at $67.01 on Thursday. Zillow Group, Inc. has a 52 week low of $40.30 and a 52 week high of $86.58. The company has a fifty day simple moving average of $66.58 and a two-hundred day simple moving average of $70.47. The company has a market cap of $16.18 billion, a price-to-earnings ratio of -197.09, a price-to-earnings-growth ratio of 12.68 and a beta of 2.11.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, May 7th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.06). The company had revenue of $598.00 million for the quarter, compared to analyst estimates of $587.88 million. Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ZG shares. Citigroup decreased their price objective on Zillow Group from $98.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Benchmark decreased their price target on Zillow Group from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Piper Sandler increased their price target on Zillow Group from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Canaccord Genuity Group cut their price objective on Zillow Group from $86.00 to $76.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Finally, Barclays decreased their target price on shares of Zillow Group from $64.00 to $60.00 and set an “underweight” rating on the stock in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.80.

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.