Zillow Group, Inc. $Z Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its position in Zillow Group, Inc. (NASDAQ:Z) by 39.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,225 shares of the financial services provider’s stock after selling 45,674 shares during the quarter. NewEdge Wealth LLC’s holdings in Zillow Group were worth $5,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of Z. Root Financial Partners LLC acquired a new position in Zillow Group in the 3rd quarter worth approximately $27,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Zillow Group during the 3rd quarter valued at approximately $29,000. Cullen Frost Bankers Inc. lifted its stake in Zillow Group by 58.6% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 163 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of Zillow Group by 58.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 185 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its stake in shares of Zillow Group by 32.8% in the third quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on Z. Keefe, Bruyette & Woods decreased their target price on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a research report on Monday, February 9th. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, January 21st. Mizuho cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Zillow Group currently has an average rating of “Hold” and an average price target of $90.60.

Zillow Group Stock Performance

NASDAQ:Z opened at $45.55 on Friday. The company has a fifty day moving average of $63.21 and a two-hundred day moving average of $72.92. Zillow Group, Inc. has a fifty-two week low of $42.50 and a fifty-two week high of $93.88. The stock has a market capitalization of $11.03 billion, a PE ratio of 506.17, a P/E/G ratio of 2.52 and a beta of 2.08.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The company had revenue of $654.00 million during the quarter, compared to analysts’ expectations of $650.40 million. Research analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Dan Spaulding sold 5,361 shares of Zillow Group stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total value of $235,615.95. Following the sale, the insider directly owned 41,080 shares of the company’s stock, valued at $1,805,466. The trade was a 11.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO David A. Beitel sold 3,966 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $44.22, for a total value of $175,376.52. Following the completion of the transaction, the chief technology officer directly owned 136,690 shares of the company’s stock, valued at approximately $6,044,431.80. This represents a 2.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 62,007 shares of company stock valued at $2,771,433. 25.03% of the stock is owned by corporate insiders.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.