Coatue Management LLC Sells 296,590 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Coatue Management LLC lessened its position in Zillow Group, Inc. (NASDAQ:ZGFree Report) by 61.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,681 shares of the technology company’s stock after selling 296,590 shares during the quarter. Coatue Management LLC’s holdings in Zillow Group were worth $10,532,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ZG. New York Life Investment Management LLC bought a new stake in Zillow Group during the 3rd quarter valued at about $267,000. J.P. Morgan Private Wealth Advisors LLC increased its position in Zillow Group by 56.2% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 14,875 shares of the technology company’s stock valued at $666,000 after purchasing an additional 5,353 shares during the period. Amalgamated Bank increased its position in Zillow Group by 70.1% during the 3rd quarter. Amalgamated Bank now owns 14,188 shares of the technology company’s stock valued at $635,000 after purchasing an additional 5,847 shares during the period. Pathstone Family Office LLC purchased a new position in Zillow Group during the 3rd quarter valued at about $217,000. Finally, Rafferty Asset Management LLC increased its position in Zillow Group by 5.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 7,647 shares of the technology company’s stock valued at $343,000 after purchasing an additional 414 shares during the period. Institutional investors own 20.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ZG shares. Benchmark reissued a “buy” rating and set a $60.00 target price on shares of Zillow Group in a research report on Tuesday, April 30th. Susquehanna lifted their price objective on shares of Zillow Group from $36.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Stephens reissued an “overweight” rating and set a $79.00 target price on shares of Zillow Group in a research report on Wednesday, February 14th. DA Davidson reissued a “buy” rating and set a $63.00 target price on shares of Zillow Group in a research report on Friday, April 5th. Finally, Barclays dropped their target price on shares of Zillow Group from $40.00 to $35.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.40.

Read Our Latest Stock Analysis on Zillow Group

Insider Buying and Selling at Zillow Group

In other news, CFO Jeremy Hofmann sold 7,813 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $54.76, for a total transaction of $427,839.88. Following the transaction, the chief financial officer now directly owns 137,347 shares in the company, valued at $7,521,121.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Jeremy Hofmann sold 7,813 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $54.76, for a total transaction of $427,839.88. Following the completion of the sale, the chief financial officer now directly owns 137,347 shares of the company’s stock, valued at $7,521,121.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag bought 1,000,000 shares of Zillow Group stock in a transaction on Friday, June 7th. The stock was acquired at an average cost of $42.27 per share, with a total value of $42,270,000.00. Following the acquisition, the director now owns 652,520 shares of the company’s stock, valued at approximately $27,582,020.40. The disclosure for this purchase can be found here. Insiders have sold 72,073 shares of company stock worth $3,274,579 over the last three months. Insiders own 17.14% of the company’s stock.

Zillow Group Stock Up 12.7 %

NASDAQ:ZG traded up $5.32 during mid-day trading on Wednesday, hitting $47.06. The stock had a trading volume of 1,436,045 shares, compared to its average volume of 658,382. The stock has a 50-day simple moving average of $42.19 and a two-hundred day simple moving average of $48.44. The company has a market capitalization of $11.11 billion, a PE ratio of -68.20 and a beta of 2.02. Zillow Group, Inc. has a twelve month low of $33.23 and a twelve month high of $59.23. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.21.

Zillow Group (NASDAQ:ZGGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $529.00 million for the quarter, compared to analyst estimates of $509.30 million. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. On average, equities research analysts anticipate that Zillow Group, Inc. will post -0.18 EPS for the current year.

Zillow Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Zillow Group (NASDAQ:ZG)

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