Thrivent Financial for Lutherans Has $6.40 Million Stake in Zillow Group, Inc. (NASDAQ:ZG)

Thrivent Financial for Lutherans trimmed its stake in Zillow Group, Inc. (NASDAQ:ZG) by 36.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,386 shares of the technology company’s stock after selling 52,531 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Zillow Group were worth $6,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ZG. Mirabella Financial Services LLP purchased a new position in Zillow Group in the third quarter valued at about $11,351,000. JPMorgan Chase & Co. grew its stake in shares of Zillow Group by 155.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company’s stock valued at $2,060,000 after buying an additional 20,238 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Zillow Group by 28.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company’s stock worth $1,753,000 after buying an additional 5,539 shares during the last quarter. Geode Capital Management LLC raised its position in Zillow Group by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock valued at $63,523,000 after acquiring an additional 32,766 shares in the last quarter. Finally, Virtu Financial LLC raised its position in Zillow Group by 132.1% during the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock valued at $12,929,000 after acquiring an additional 118,830 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Jun Choo sold 1,277 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.72, for a total transaction of $99,248.44. Following the completion of the sale, the chief operating officer now owns 86,853 shares in the company, valued at $6,750,215.16. This trade represents a 1.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 23,388 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the completion of the transaction, the chief financial officer now owns 99,362 shares in the company, valued at approximately $8,443,782.76. This trade represents a 19.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,065 shares of company stock worth $7,660,165. Corporate insiders own 17.14% of the company’s stock.

Zillow Group Price Performance

NASDAQ ZG opened at $69.78 on Monday. The company’s fifty day moving average is $74.99 and its two-hundred day moving average is $70.08. Zillow Group, Inc. has a 52-week low of $38.06 and a 52-week high of $86.58. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of -148.47, a P/E/G ratio of 8.90 and a beta of 2.33.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. As a group, sell-side analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ZG. Robert W. Baird started coverage on shares of Zillow Group in a research note on Friday, January 31st. They set a “neutral” rating and a $88.00 price target on the stock. DA Davidson raised their target price on Zillow Group from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. UBS Group boosted their price target on Zillow Group from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. KeyCorp lowered their price objective on Zillow Group from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Finally, Craig Hallum raised their price objective on Zillow Group from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.25.

Zillow Group 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.