Franklin Resources Inc. Sells 1,265 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Franklin Resources Inc. reduced its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 27.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,334 shares of the technology company’s stock after selling 1,265 shares during the period. Franklin Resources Inc.’s holdings in Zillow Group were worth $203,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Signaturefd LLC lifted its stake 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 buying an additional 360 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Zillow Group by 9.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock valued at $210,000 after acquiring an additional 421 shares in the last quarter. Creative Planning lifted its position in shares of 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 acquiring an additional 439 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Zillow Group during the 3rd quarter worth approximately $29,000. Finally, GAMMA Investing LLC increased its position in shares of Zillow Group by 86.7% during the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after purchasing an additional 561 shares during the period. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Performance

Zillow Group stock opened at $70.08 on Friday. Zillow Group, Inc. has a 12-month low of $38.06 and a 12-month high of $83.67. The stock has a 50-day simple moving average of $72.46 and a 200 day simple moving average of $59.72. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $16.37 billion, a price-to-earnings ratio of -122.95 and a beta of 2.08.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $581.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) earnings per share. On average, research analysts anticipate that Zillow Group, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, CAO Jennifer Rock sold 3,187 shares of Zillow Group stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $74.00, for a total transaction of $235,838.00. Following the completion of the sale, the chief accounting officer now owns 69,649 shares in the company, valued at $5,154,026. The trade was a 4.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dan Spaulding sold 4,565 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $86.22, for a total transaction of $393,594.30. Following the completion of the transaction, the insider now owns 58,217 shares in the company, valued at $5,019,469.74. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 139,689 shares of company stock worth $10,395,879. Insiders own 17.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ZG. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. Evercore ISI raised their price objective on shares of Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Susquehanna lifted their target price on shares of Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. JMP Securities increased their price target on shares of Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a research report on Monday, December 16th. Finally, UBS Group lifted their price objective on Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One 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’s stock. According to MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.71.

Zillow Group 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.