Garner Asset Management Corp Sells 4,712 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Garner Asset Management Corp lessened its holdings in Zillow Group, Inc. (NASDAQ:ZG) by 16.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,116 shares of the technology company’s stock after selling 4,712 shares during the quarter. Garner Asset Management Corp’s holdings in Zillow Group were worth $1,272,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New York Life Investment Management LLC acquired a new stake in shares of Zillow Group in the 3rd quarter valued at $267,000. J.P. Morgan Private Wealth Advisors LLC lifted its position in Zillow Group by 56.2% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 14,875 shares of the technology company’s stock worth $666,000 after buying an additional 5,353 shares in the last quarter. Amalgamated Bank lifted its position in Zillow Group by 70.1% during the 3rd quarter. Amalgamated Bank now owns 14,188 shares of the technology company’s stock worth $635,000 after buying an additional 5,847 shares in the last quarter. Pathstone Family Office LLC acquired a new position in Zillow Group during the 3rd quarter worth about $217,000. Finally, Rafferty Asset Management LLC lifted its position in Zillow Group by 5.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 7,647 shares of the technology company’s stock worth $343,000 after buying an additional 414 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Insider Activity

In related news, General Counsel Bradley D. Owens sold 1,373 shares of Zillow Group stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $44.15, for a total value of $60,617.95. Following the transaction, the general counsel now directly owns 40,194 shares of the company’s stock, valued at $1,774,565.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Zillow Group news, General Counsel Bradley D. Owens sold 1,373 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $44.15, for a total value of $60,617.95. Following the transaction, the general counsel now directly owns 40,194 shares of the company’s stock, valued at $1,774,565.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeremy Hofmann sold 8,562 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $39.05, for a total value of $334,346.10. Following the completion of the transaction, the chief financial officer now directly owns 123,123 shares in the company, valued at $4,807,953.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,166 shares of company stock valued at $2,992,579. 17.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ZG has been the topic of a number of research reports. Citigroup cut their target price on shares of Zillow Group from $68.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Susquehanna upped their target price on shares of Zillow Group from $36.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Royal Bank of Canada cut their target price on shares of Zillow Group from $66.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Craig Hallum cut their target price on shares of Zillow Group from $65.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Zillow Group from $65.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zillow Group has an average rating of “Moderate Buy” and an average target price of $57.40.

Zillow Group Price Performance

Shares of NASDAQ ZG traded down $0.81 during mid-day trading on Tuesday, reaching $41.74. The company had a trading volume of 290,615 shares, compared to its average volume of 651,433. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.32 and a current ratio of 3.32. Zillow Group, Inc. has a one year low of $33.23 and a one year high of $59.23. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of -60.74 and a beta of 2.02. The business’s 50-day simple moving average is $42.27 and its 200 day simple moving average is $48.42.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, May 1st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. The firm had revenue of $529.00 million for the quarter, compared to analysts’ expectations of $509.30 million. On average, research analysts predict that Zillow Group, Inc. will post -0.18 earnings per share for the current fiscal year.

About Zillow Group

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.