Wellington Management Group LLP Trims Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Wellington Management Group LLP reduced its stake in Zillow Group, Inc. (NASDAQ:ZG) by 97.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 584,003 shares of the technology company’s stock after selling 18,804,637 shares during the period. Wellington Management Group LLP’s holdings in Zillow Group were worth $36,167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZG. 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 valued at $49,871,000 after buying an additional 2,832 shares during the period. Dimensional Fund Advisors LP grew its position in Zillow Group by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock worth $19,901,000 after acquiring an additional 35,503 shares during the period. Selkirk Management LLC raised its position in Zillow Group by 37.4% in the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after purchasing an additional 87,300 shares during the period. US Bancorp DE raised its holdings in Zillow Group by 6.5% in the 3rd quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock valued at $18,444,000 after buying an additional 18,136 shares during the period. Finally, Cynosure Group LLC purchased a new position in Zillow Group during the third quarter worth about $12,248,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zillow Group

In related news, General Counsel Bradley D. Owens sold 1,212 shares of Zillow Group stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total value of $89,663.76. Following the transaction, the general counsel now owns 31,739 shares in the company, valued at approximately $2,348,051.22. This trade represents a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the sale, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. This trade represents a 78.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,140 shares of company stock valued at $11,955,195 over the last quarter. Corporate insiders own 17.14% of the company’s stock.

Zillow Group Trading Down 1.7 %

Shares of Zillow Group stock opened at $77.40 on Friday. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. Zillow Group, Inc. has a 52-week low of $38.06 and a 52-week high of $83.67. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of -135.79 and a beta of 2.08. The company’s 50-day simple moving average is $68.43 and its 200-day simple moving average is $56.43.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $581.00 million during 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 business’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 year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in 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 stock a “neutral” rating in a research report on Thursday, November 7th. Susquehanna increased their price objective on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. JMP Securities boosted their price target on shares of Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and upped their target price for the company from $50.00 to $80.00 in a report on Monday, September 16th. Finally, UBS Group upped their price objective on shares of Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.12.

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.