State Board of Administration of Florida Retirement System Sells 2,143 Shares of Zillow Group, Inc. (NASDAQ:ZG)

State Board of Administration of Florida Retirement System reduced its position in Zillow Group, Inc. (NASDAQ:ZG) by 2.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in shares of Zillow Group in the 3rd quarter valued at about $25,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Zillow Group in the 2nd quarter valued at about $38,000. PNC Financial Services Group Inc. boosted its stake in Zillow Group by 44.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 965 shares of the technology company’s stock worth $84,000 after purchasing an additional 295 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Zillow Group by 30.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,300 shares of the technology company’s stock worth $150,000 after purchasing an additional 300 shares in the last quarter. Finally, Quilter Plc boosted its stake in Zillow Group by 59.1% in the 2nd quarter. Quilter Plc now owns 1,965 shares of the technology company’s stock worth $241,000 after purchasing an additional 730 shares in the last quarter. Institutional investors and hedge funds own 20.58% of the company’s stock.

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

Zillow Group (NASDAQ:ZG) last announced its earnings results on Tuesday, November 2nd. The technology company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.09). The business had revenue of $1.74 billion for 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%. As a group, research analysts anticipate that Zillow Group, Inc. will post -2.15 earnings per share for the current year.

A number of analysts recently commented on the stock. Truist Securities cut shares of Zillow Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $140.00 to $83.00 in a research note on Wednesday, November 3rd. Piper Sandler lowered their target price on shares of Zillow Group from $78.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, November 19th. They noted that the move was a valuation call. BTIG Research reissued a “hold” rating on shares of Zillow Group in a research report on Sunday, December 5th. reduced their price target on shares of Zillow Group from $165.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, November 3rd. Finally, DA Davidson reduced their price target on shares of Zillow Group from $195.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, November 3rd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $127.76.

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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