Verition Fund Management LLC Sells 229,287 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Verition Fund Management LLC decreased its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 94.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 13,157 shares of the technology company’s stock after selling 229,287 shares during the period. Verition Fund Management LLC’s holdings in Zillow Group were worth $815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Walleye Capital LLC acquired a new stake in Zillow Group in the 3rd quarter valued at $212,000. PEAK6 Investments LLC acquired a new position in Zillow Group during the third quarter worth $424,000. CreativeOne Wealth LLC lifted its holdings in shares of Zillow Group by 164.4% during the third quarter. CreativeOne Wealth LLC now owns 179,700 shares of the technology company’s stock valued at $11,129,000 after acquiring an additional 111,743 shares during the period. Cynosure Group LLC acquired a new stake in shares of Zillow Group in the 3rd quarter valued at $12,248,000. Finally, Bank of Montreal Can grew its holdings in shares of Zillow Group by 85.1% in the 3rd quarter. Bank of Montreal Can now owns 140,252 shares of the technology company’s stock worth $8,903,000 after purchasing an additional 64,473 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

Zillow Group Trading Down 0.4 %

Shares of NASDAQ ZG opened at $78.93 on Tuesday. The company’s 50 day simple moving average is $67.45 and its 200 day simple moving average is $55.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. Zillow Group, Inc. has a fifty-two week low of $38.06 and a fifty-two week high of $83.67. The firm has a market capitalization of $18.43 billion, a P/E ratio of -138.47 and a beta of 2.08.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The company had revenue of $581.00 million for the quarter, compared to the consensus estimate of $555.45 million. During the same quarter in the prior year, the business posted ($0.12) EPS. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. On average, analysts predict that Zillow Group, Inc. will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other Zillow Group news, CAO Jennifer Rock sold 3,033 shares of Zillow Group stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $82.78, for a total transaction of $251,071.74. Following the transaction, the chief accounting officer now directly owns 57,166 shares in the company, valued at approximately $4,732,201.48. The trade was a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thielke Claire Cormier sold 2,826 shares of the 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 owns 2,826 shares of the company’s stock, valued at $172,696.86. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,140 shares of company stock worth $11,955,195. Insiders own 17.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZG. DA Davidson lifted their price target on shares of Zillow Group from $71.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler boosted their target price on Zillow Group from $73.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday. Barclays increased their price target on Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. UBS Group lifted their price objective on Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, JMP Securities increased their target price on Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.12.

Zillow Group Company Profile

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.