MFG Wealth Management Inc. Sells 13,305 Shares of Zillow Group, Inc. (NASDAQ:ZG)

MFG Wealth Management Inc. lowered its position in Zillow Group, Inc. (NASDAQ:ZG) by 44.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,608 shares of the technology company’s stock after selling 13,305 shares during the period. MFG Wealth Management Inc.’s holdings in Zillow Group were worth $1,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd purchased a new position in Zillow Group during the fourth quarter valued at $27,000. Salem Investment Counselors Inc. bought a new position in shares of Zillow Group during the first quarter valued at $42,000. CX Institutional purchased a new position in shares of Zillow Group in the 1st quarter worth about $46,000. Assetmark Inc. boosted its stake in Zillow Group by 18,875.0% in the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock worth $54,000 after purchasing an additional 755 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in Zillow Group by 24.0% during the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock valued at $58,000 after purchasing an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Wall Street Analysts Forecast Growth

ZG has been the subject of several recent analyst reports. Canaccord Genuity Group decreased their target price on shares of Zillow Group from $86.00 to $76.00 and set a “hold” rating for the company in a report on Monday, May 5th. UBS Group cut their target price on Zillow Group from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Wedbush restated an “outperform” rating and issued a $90.00 price target (down previously from $100.00) on shares of Zillow Group in a research note on Thursday, May 8th. DA Davidson dropped their price objective on Zillow Group from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, Wells Fargo & Company started coverage on Zillow Group in a report on Monday, April 28th. They issued a “mixed” rating and a $62.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.80.

Zillow Group Trading Down 2.4%

NASDAQ:ZG opened at $67.01 on Thursday. Zillow Group, Inc. has a 12 month low of $40.30 and a 12 month high of $86.58. The business’s 50-day moving average is $66.58 and its 200 day moving average is $70.47. The company has a market capitalization of $16.18 billion, a P/E ratio of -197.09, a P/E/G ratio of 12.68 and a beta of 2.11.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The business had revenue of $598.00 million during the quarter, compared to the consensus estimate of $587.88 million. Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. On average, research analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Gordon Sheridan Stephenson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $70.69, for a total transaction of $706,900.00. Following the sale, the director now directly owns 28,290 shares in the company, valued at $1,999,820.10. This trade represents a 26.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Erik C. Blachford sold 965 shares of Zillow Group stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $70.35, for a total value of $67,887.75. Following the completion of the transaction, the director now owns 35,474 shares of the company’s stock, valued at approximately $2,495,595.90. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,093 shares of company stock worth $6,989,688 in the last three months. Corporate insiders own 17.14% of the company’s stock.

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.