HighTower Advisors LLC Decreases Stake in Zillow Group, Inc. (NASDAQ:ZG)

HighTower Advisors LLC lessened its stake in shares of Zillow Group, Inc. (NASDAQ:ZG) by 7.3% during the 3rd quarter, Holdings Channel reports. The firm owned 5,654 shares of the technology company’s stock after selling 443 shares during the quarter. HighTower Advisors LLC’s holdings in Zillow Group were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Signaturefd LLC increased its holdings in shares of Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after purchasing an additional 360 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Zillow Group by 9.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock valued at $210,000 after buying an additional 421 shares during the last quarter. Creative Planning increased its holdings in Zillow Group by 7.2% in the 3rd quarter. Creative Planning now owns 6,537 shares of the technology company’s stock worth $405,000 after buying an additional 439 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Zillow Group during the 3rd quarter worth approximately $29,000. Finally, GAMMA Investing LLC lifted its stake in Zillow Group by 86.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after acquiring an additional 561 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ZG shares. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. Piper Sandler increased their price target on Zillow Group from $73.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Susquehanna boosted their price objective on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Royal Bank of Canada upped their target price on Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Barclays boosted their price target on Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, November 8th. One investment 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, the company presently has an average rating of “Moderate Buy” and an average target price of $72.71.

Zillow Group Price Performance

Zillow Group stock opened at $73.77 on Monday. The stock has a market capitalization of $17.23 billion, a P/E ratio of -129.42 and a beta of 2.08. The company’s fifty day moving average price is $70.27 and its 200 day moving average price is $58.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group, Inc. has a 1 year low of $38.06 and a 1 year high of $83.67.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $581.00 million for the quarter, compared to analyst estimates 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 for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) earnings per share. As a group, equities research analysts anticipate that Zillow Group, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Bradley D. Owens sold 1,212 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total value of $89,663.76. Following the completion of the sale, the general counsel now directly owns 31,739 shares in the company, valued at $2,348,051.22. This represents a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO David A. Beitel sold 56,750 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the completion of the transaction, the chief technology officer now directly owns 92 shares in the company, valued at approximately $6,659.88. This represents a 99.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,689 shares of company stock worth $10,395,879. 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.