Pacer Advisors Inc. trimmed its position in shares of Zillow Group, Inc. (NASDAQ:Z – Free Report) by 76.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,440,492 shares of the financial services provider’s stock after selling 4,781,182 shares during the period. Pacer Advisors Inc. owned 0.62% of Zillow Group worth $72,399,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in Z. Zions Bancorporation N.A. grew its holdings in shares of Zillow Group by 371.7% during the 1st quarter. Zions Bancorporation N.A. now owns 500 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 394 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of Zillow Group during the 4th quarter valued at $29,000. Belpointe Asset Management LLC purchased a new position in shares of Zillow Group during the 4th quarter valued at $29,000. FNY Investment Advisers LLC purchased a new position in shares of Zillow Group during the 2nd quarter valued at $52,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Zillow Group during the 2nd quarter valued at $36,000. 71.17% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Z has been the subject of a number of recent research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $55.00 price objective on shares of Zillow Group in a report on Thursday, August 3rd. 51job reiterated an “initiates” rating on shares of Zillow Group in a report on Tuesday, June 27th. VNET Group reiterated an “initiates” rating on shares of Zillow Group in a report on Tuesday, June 27th. Jefferies Financial Group boosted their target price on shares of Zillow Group from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Finally, Wells Fargo & Company boosted their target price on shares of Zillow Group from $50.00 to $55.00 in a research report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $53.50.
In related news, COO Jeremy Wacksman sold 4,682 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $53.71, for a total value of $251,470.22. Following the transaction, the chief operating officer now directly owns 88,574 shares in the company, valued at $4,757,309.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Zillow Group news, CAO Jennifer Rock sold 11,568 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $52.89, for a total value of $611,831.52. Following the transaction, the chief accounting officer now directly owns 75,298 shares of the company’s stock, valued at $3,982,511.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeremy Wacksman sold 4,682 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $53.71, for a total transaction of $251,470.22. Following the completion of the transaction, the chief operating officer now directly owns 88,574 shares in the company, valued at $4,757,309.54. The disclosure for this sale can be found here. Insiders have sold 82,745 shares of company stock valued at $4,313,262 over the last three months. 15.30% of the stock is owned by insiders.
Zillow Group Trading Up 0.1 %
Zillow Group stock traded up $0.04 during trading hours on Tuesday, hitting $47.19. 402,878 shares of the stock were exchanged, compared to its average volume of 2,925,648. The company has a debt-to-equity ratio of 0.37, a current ratio of 10.90 and a quick ratio of 10.90. Zillow Group, Inc. has a 12 month low of $26.14 and a 12 month high of $57.19. The business’s 50-day moving average is $52.61 and its two-hundred day moving average is $47.84.
Zillow Group (NASDAQ:Z – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported ($0.05) earnings per share for the quarter. Zillow Group had a negative return on equity of 2.78% and a negative net margin of 9.61%. The firm had revenue of $506.00 million for the quarter.
Zillow Group Profile
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.
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