Capital World Investors Reduces Holdings in Zillow Group, Inc. (NASDAQ:Z)

Capital World Investors decreased its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,181,805 shares of the financial services provider’s stock after selling 210,127 shares during the period. Capital World Investors owned 3.07% of Zillow Group worth $531,813,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of Z. Synovus Financial Corp purchased a new position in Zillow Group during the 3rd quarter worth $311,000. Everence Capital Management Inc. purchased a new position in Zillow Group during the 4th quarter valued at about $427,000. Nordea Investment Management AB raised its position in shares of Zillow Group by 10.4% during the 4th quarter. Nordea Investment Management AB now owns 11,833 shares of the financial services provider’s stock worth $887,000 after purchasing an additional 1,112 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Zillow Group in the fourth quarter worth $754,000. Finally, Rosenberg Matthew Hamilton raised its stake in Zillow Group by 17.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 1,617 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 245 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zillow Group

In related news, CFO Jeremy Hofmann sold 23,388 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.98, for a total value 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 $8,443,782.76. This represents a 19.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Errol G. Samuelson sold 2,854 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total transaction of $209,312.36. Following the completion of the sale, the insider now directly owns 142,636 shares of the company’s stock, valued at approximately $10,460,924.24. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,919 shares of company stock worth $7,869,478. Insiders own 23.76% of the company’s stock.

Zillow Group Trading Up 0.2 %

Shares of NASDAQ Z opened at $62.57 on Friday. The business has a 50 day simple moving average of $71.07 and a 200-day simple moving average of $73.12. Zillow Group, Inc. has a twelve month low of $38.45 and a twelve month high of $89.39. The company has a market capitalization of $15.18 billion, a price-to-earnings ratio of -133.13, a price-to-earnings-growth ratio of 9.24 and a beta of 2.19.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. As a group, equities analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on Z shares. Baird R W raised Zillow Group to a “hold” rating in a research report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 12th. Keefe, Bruyette & Woods began coverage on shares of Zillow Group in a report on Friday, March 28th. They issued a “market perform” rating and a $80.00 target price for the company. KeyCorp raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Finally, Morgan Stanley upped their price objective on Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Zillow Group has an average rating of “Moderate Buy” and a consensus target price of $81.71.

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.