Public Employees Retirement System of Ohio Lowers Stock Position in Zillow Group, Inc. (NASDAQ:ZG)

Public Employees Retirement System of Ohio lessened its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,485 shares of the technology company’s stock after selling 831 shares during the period. Public Employees Retirement System of Ohio’s holdings in Zillow Group were worth $1,083,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its stake in shares of Zillow Group by 0.4% in the 3rd quarter. State Street Corp now owns 805,279 shares of the technology company’s stock worth $49,871,000 after buying an additional 2,832 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Zillow Group in the third quarter worth $418,000. Quantinno Capital Management LP purchased a new stake in shares of Zillow Group in the third quarter worth $325,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Zillow Group in the third quarter worth $9,813,000. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of Zillow Group in the 3rd quarter worth about $95,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI raised their price target on shares of Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their price objective on Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. UBS Group lifted their target price on Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, JMP Securities boosted their price target on Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.71.

Zillow Group Stock Performance

ZG opened at $71.64 on Friday. The company’s 50 day moving average is $70.01 and its 200 day moving average is $57.69. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The company has a market cap of $16.73 billion, a price-to-earnings ratio of -125.68 and a beta of 2.08. Zillow Group, Inc. has a 12-month low of $38.06 and a 12-month high of $83.67.

Zillow Group (NASDAQ:ZG) last issued 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. The business had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.12) EPS. On average, equities research analysts predict that Zillow Group, Inc. will post -0.34 EPS for the current year.

Insider Activity at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 3,187 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $74.00, for a total transaction of $235,838.00. Following the sale, the chief accounting officer now directly owns 69,649 shares of the company’s stock, valued at $5,154,026. This trade represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Daimler sold 3,694 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total value of $273,282.12. Following the completion of the transaction, the insider now directly owns 18,770 shares of the company’s stock, valued at approximately $1,388,604.60. This trade represents a 16.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,689 shares of company stock worth $10,395,879. 17.14% of the stock is owned by company insiders.

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.