Zillow Group, Inc. (NASDAQ:ZG) Holdings Cut by Amalgamated Bank

Amalgamated Bank cut its stake in shares of Zillow Group, Inc. (NASDAQ:ZG) by 75.4% in the 2nd quarter, Holdings Channel reports. The firm owned 2,576 shares of the technology company’s stock after selling 7,878 shares during the quarter. Amalgamated Bank’s holdings in Zillow Group were worth $116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ZG. Treasurer of the State of North Carolina grew its stake in Zillow Group by 0.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 24,511 shares of the technology company’s stock worth $1,390,000 after buying an additional 230 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of 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 acquiring an additional 360 shares during the period. Wedmont Private Capital grew its position in shares of Zillow Group by 4.2% during the second quarter. Wedmont Private Capital now owns 12,483 shares of the technology company’s stock worth $610,000 after acquiring an additional 504 shares during the last quarter. Garde Capital Inc. increased its holdings in shares of Zillow Group by 1.0% in the 1st quarter. Garde Capital Inc. now owns 60,072 shares of the technology company’s stock worth $2,875,000 after acquiring an additional 600 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in Zillow Group in the 1st quarter valued at about $32,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Price Performance

ZG stock opened at $62.71 on Wednesday. The firm has a 50-day moving average of $53.66 and a two-hundred day moving average of $47.75. The firm has a market capitalization of $14.81 billion, a PE ratio of -90.88 and a beta of 2.00. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group, Inc. has a one year low of $33.23 and a one year high of $66.75.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08. The firm had revenue of $572.00 million for the quarter, compared to analysts’ expectations of $538.36 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. On average, analysts forecast that Zillow Group, Inc. will post -0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ZG. Royal Bank of Canada raised their price target on shares of Zillow Group from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Barclays lifted their target price on Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $47.00 price target on shares of Zillow Group in a research note on Monday. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $50.00 to $80.00 in a research note on Monday, September 16th. Finally, UBS Group increased their target price on shares of Zillow Group from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.94.

Insider Activity at Zillow Group

In related news, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the sale, the director now directly owns 5,652 shares in the company, valued at $379,983.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Zillow Group news, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the transaction, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the sale, the director now owns 5,652 shares of the company’s stock, valued at $379,983.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,999 shares of company stock valued at $11,780,363. Company insiders own 17.14% of the company’s stock.

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.