Hsbc Holdings PLC Sells 3,233 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Hsbc Holdings PLC decreased its position in Zillow Group, Inc. (NASDAQ:ZG) by 19.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,250 shares of the technology company’s stock after selling 3,233 shares during the period. Hsbc Holdings PLC’s holdings in Zillow Group were worth $596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP raised its position in shares of Zillow Group by 47.8% in the fourth quarter. GSA Capital Partners LLP now owns 78,301 shares of the technology company’s stock valued at $4,441,000 after purchasing an additional 25,333 shares during the period. Edgestream Partners L.P. grew its stake in Zillow Group by 140.6% in the 1st quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock valued at $992,000 after buying an additional 12,116 shares in the last quarter. US Bancorp DE raised its holdings in Zillow Group by 42.6% during the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock valued at $11,775,000 after acquiring an additional 73,504 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Zillow Group during the first quarter worth $1,597,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Zillow Group by 148.6% in the first quarter. Russell Investments Group Ltd. now owns 31,934 shares of the technology company’s stock worth $1,528,000 after acquiring an additional 19,087 shares during the period. 20.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on ZG shares. Benchmark raised their target price on Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Barclays raised their price objective on shares of Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Craig Hallum increased their target price on shares of Zillow Group from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. DA Davidson boosted their price target on shares of Zillow Group from $52.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada increased their price objective on Zillow Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.94.

Zillow Group Stock Down 2.4 %

Shares of ZG opened at $61.93 on Tuesday. The firm has a market cap of $14.33 billion, a P/E ratio of -89.75 and a beta of 2.00. Zillow Group, Inc. has a 1 year low of $33.23 and a 1 year high of $66.75. The stock has a 50 day simple moving average of $53.41 and a two-hundred day simple moving average of $47.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The company had revenue of $572.00 million during 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 firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, analysts forecast that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, Director Thielke Claire Cormier sold 2,826 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.11, for a total transaction of $172,696.86. Following the transaction, the director now directly owns 2,826 shares in the company, valued at approximately $172,696.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the transaction, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at $3,923,335.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thielke Claire Cormier sold 2,826 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was 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 in the company, valued at $172,696.86. The disclosure for this sale can be found here. Insiders sold a total of 221,999 shares of company stock worth $11,780,363 over the last three months. Company insiders own 17.14% of the company’s stock.

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.