Zillow Group, Inc. (NASDAQ:ZG) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System trimmed its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 79,449 shares of the technology company’s stock after selling 2,143 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Zillow Group were worth $7,038,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Legal & General Group Plc boosted its stake in Zillow Group by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 336,733 shares of the technology company’s stock worth $41,260,000 after buying an additional 2,850 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Zillow Group by 27.0% in the 2nd quarter. Wells Fargo & Company MN now owns 75,227 shares of the technology company’s stock worth $9,217,000 after buying an additional 15,970 shares during the last quarter. Morgan Stanley boosted its stake in Zillow Group by 1.4% in the 2nd quarter. Morgan Stanley now owns 3,106,104 shares of the technology company’s stock worth $380,590,000 after buying an additional 41,842 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Zillow Group by 1.7% in the 3rd quarter. Raymond James & Associates now owns 213,246 shares of the technology company’s stock valued at $18,889,000 after purchasing an additional 3,602 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of Zillow Group by 122.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 10,448 shares of the technology company’s stock valued at $1,280,000 after purchasing an additional 5,754 shares in the last quarter. 20.58% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on ZG shares. Jefferies Financial Group reduced their price objective on Zillow Group from $150.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 3rd. Citigroup lowered Zillow Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $185.00 to $86.00 in a research note on Thursday, November 4th. They noted that the move was a valuation call. Royal Bank of Canada reduced their price objective on Zillow Group from $145.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 3rd. Wolfe Research started coverage on Zillow Group in a research note on Tuesday, January 4th. They issued a “peer perform” rating and a $75.00 price objective on the stock. Finally, Zacks Investment Research raised Zillow Group from a “strong sell” rating to a “hold” rating and set a $65.00 price objective on the stock in a research note on Wednesday, December 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $127.76.

Shares of ZG opened at $54.65 on Friday. The firm has a market cap of $13.93 billion, a price-to-earnings ratio of -62.82 and a beta of 1.44. The stock has a 50 day moving average of $59.13 and a 200-day moving average of $85.24. The company has a current ratio of 2.52, a quick ratio of 1.31 and a debt-to-equity ratio of 0.31. Zillow Group, Inc. has a 52 week low of $52.31 and a 52 week high of $212.40.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, November 2nd. The technology company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.13) by ($1.09). The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $2.01 billion. Zillow Group had a negative return on equity of 3.07% and a negative net margin of 4.36%. On average, sell-side analysts predict that Zillow Group, Inc. will post -2.15 earnings per share for the current fiscal year.

About Zillow Group

Zillow Group, Inc engages in the provision of real estate and home-related information marketplaces on mobile and the web. It operates through the following segments: Internet, Media & Technology (IMT), Homes and Mortgages segment. The IMT segment includes premier agent, rentals and new construction marketplaces, as well as dotloop, display and other advertising and business software solutions.

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

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