Amalgamated Bank Sells 1,463 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Posted by on Aug 8th, 2023

Amalgamated Bank cut its holdings in Zillow Group, Inc. (NASDAQ:ZG – Free Report) by 13.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,203 shares of the technology company’s stock after selling 1,463 shares during the period. Amalgamated Bank’s holdings in Zillow Group were worth $402,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ZG. Norges Bank purchased a new stake in Zillow Group in the fourth quarter worth $59,032,000. Echo Street Capital Management LLC bought a new position in shares of Zillow Group during the 4th quarter worth $24,653,000. BlackRock Inc. increased its holdings in Zillow Group by 16.0% in the 3rd quarter. BlackRock Inc. now owns 2,489,506 shares of the technology company’s stock worth $71,275,000 after acquiring an additional 343,693 shares during the last quarter. State of Wisconsin Investment Board bought a new stake in Zillow Group in the 4th quarter valued at about $10,502,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Zillow Group during the fourth quarter valued at about $8,291,000. 19.17% of the stock is owned by institutional investors.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $54.52 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 10.90 and a current ratio of 10.90. Zillow Group, Inc. has a 52-week low of $26.21 and a 52-week high of $55.68. The company has a fifty day moving average of $49.24 and a 200-day moving average of $45.33. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of -70.81 and a beta of 1.72.

Insiders Place Their Bets

In related news, insider Susan Daimler sold 3,657 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $44.66, for a total transaction of $163,321.62. Following the completion of the sale, the insider now directly owns 72,329 shares in the company, valued at approximately $3,230,213.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Susan Daimler sold 3,657 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $44.66, for a total transaction of $163,321.62. Following the completion of the sale, the insider now directly owns 72,329 shares in the company, valued at approximately $3,230,213.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer Rock sold 2,163 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $44.66, for a total transaction of $96,599.58. Following the completion of the sale, the chief accounting officer now directly owns 82,798 shares in the company, valued at approximately $3,697,758.68. The disclosure for this sale can be found here. Insiders sold 59,544 shares of company stock valued at $2,772,057 over the last three months. Insiders own 17.14% of the company’s stock.

Analyst Upgrades and Downgrades

ZG has been the topic of a number of recent research reports. Benchmark upped their price target on shares of Zillow Group from $65.00 to $67.00 in a research note on Thursday, August 3rd. Wedbush raised their price target on Zillow Group from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 3rd. DA Davidson boosted their price objective on Zillow Group from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Citigroup lifted their target price on Zillow Group from $60.00 to $65.00 in a report on Friday. Finally, 22nd Century Group reissued a “maintains” rating on shares of Zillow Group in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and an average target price of $52.30.

View Our Latest Stock Report on ZG

Zillow Group Profile

(Free Report)

Zillow Group, Inc operates real estate brands on mobile applications and Websites in the United States. The company operates through Internet, Media & Technology (IMT); Mortgages; and Homes segments. Its IMT segment offers premier agent and rentals marketplaces, as well as other services, which includes new construction marketplace, advertising, and business technology solutions, as well as display and dotloop and floor plans.

See Also

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

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