Empire Financial Management Company LLC Sells 42,900 Shares of Zillow Group, Inc. $ZG

Empire Financial Management Company LLC lowered its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 67.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,400 shares of the technology company’s stock after selling 42,900 shares during the quarter. Empire Financial Management Company LLC’s holdings in Zillow Group were worth $844,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. M&T Bank Corp grew its stake in shares of Zillow Group by 38,344.0% in the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares during the last quarter. Polianta Ltd bought a new position in Zillow Group during the first quarter worth $1,494,000. Independent Franchise Partners LLP raised its stake in Zillow Group by 1.1% during the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after purchasing an additional 21,862 shares during the last quarter. Deltroit Asset Management UK LLP acquired a new position in Zillow Group during the 4th quarter valued at $2,715,000. Finally, Norges Bank bought a new stake in Zillow Group in the 4th quarter valued at $152,050,000. 20.32% of the stock is owned by institutional investors.

Zillow Group Price Performance

ZG opened at $33.81 on Wednesday. Zillow Group, Inc. has a fifty-two week low of $29.03 and a fifty-two week high of $90.22. The company has a market capitalization of $7.74 billion, a P/E ratio of 135.24, a P/E/G ratio of 1.37 and a beta of 1.95. The firm’s fifty day moving average price is $33.39 and its two-hundred day moving average price is $43.18.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities research analysts expect that Zillow Group, Inc. will post 0.9 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.97, for a total transaction of $111,593.83. Following the completion of the transaction, the insider owned 134,039 shares in the company, valued at $5,089,460.83. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,072 shares of Zillow Group stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the sale, the chief executive officer directly owned 153,699 shares in the company, valued at $5,616,161.46. The trade was a 5.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 42,910 shares of company stock valued at $1,605,732. Corporate insiders own 29.88% of the company’s stock.

Wall Street Analyst Weigh In

ZG has been the topic of several research analyst reports. Mizuho decreased their price target on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Barclays cut their price objective on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. BTIG Research reiterated a “neutral” rating on shares of Zillow Group in a research note on Thursday, June 11th. KeyCorp decreased their target price on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Piper Sandler lowered their price target on Zillow Group from $70.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.48.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.