Zillow Group, Inc. $Z Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd cut its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 76.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 821,974 shares of the financial services provider’s stock after selling 2,731,297 shares during the period. Ninety One UK Ltd’s holdings in Zillow Group were worth $22,300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Lansforsakringar Fondforvaltning AB publ lifted its holdings in shares of Zillow Group by 1.3% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,328 shares of the financial services provider’s stock worth $2,041,000 after buying an additional 644 shares during the period. NewEdge Advisors LLC increased its stake in shares of Zillow Group by 2.0% during the first quarter. NewEdge Advisors LLC now owns 38,052 shares of the financial services provider’s stock valued at $1,575,000 after buying an additional 750 shares during the period. KBC Group NV increased its stake in shares of Zillow Group by 2.9% during the first quarter. KBC Group NV now owns 33,219 shares of the financial services provider’s stock valued at $1,375,000 after buying an additional 951 shares during the period. Fortitude Family Office LLC purchased a new position in shares of Zillow Group during the third quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Zillow Group by 283.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 1,045 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Trading Up 11.0%

Shares of NASDAQ:Z opened at $31.46 on Friday. Zillow Group, Inc. has a 12-month low of $26.67 and a 12-month high of $79.40. The business’s fifty day simple moving average is $31.88 and its 200-day simple moving average is $35.02. The company has a market capitalization of $7.07 billion, a PE ratio of 143.01, a P/E/G ratio of 1.25 and a beta of 2.04.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. The firm had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. Research analysts predict that Zillow Group, Inc. will post 0.88 EPS for the current year.

Insider Activity at Zillow Group

In related news, Director Erik Blachford sold 792 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $28,282.32. Following the sale, the director owned 34,160 shares of the company’s stock, valued at $1,219,853.60. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the transaction, the chief financial officer owned 59,144 shares in the company, valued at $2,021,541.92. This trade represents a 8.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 38,539 shares of company stock valued at $1,323,800 over the last 90 days. Company insiders own 25.03% of the company’s stock.

Analyst Upgrades and Downgrades

Z has been the subject of a number of research reports. Wall Street Zen lowered shares of Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Jefferies Financial Group cut their target price on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Evercore lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of “Hold” and an average price target of $57.71.

About Zillow Group

Zillow Group, Inc is a technology company that operates digital real estate marketplaces and related services in the United States. Its platforms help consumers search for homes to buy or rent, research neighborhoods and property values, connect with real estate professionals, and manage aspects of the transaction process.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, along with services such as Zillow Premier Agent, Zillow Rentals, ShowingTime+ and Zillow Home Loans.