62,914 Shares of Zillow Group, Inc. $Z Acquired by State of Wyoming

State of Wyoming bought a new position in Zillow Group, Inc. (NASDAQ:Z) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 62,914 shares of the financial services provider’s stock, valued at approximately $1,707,000.

Other large investors have also added to or reduced their stakes in the company. Transmarket Holdings LP acquired a new position in Zillow Group during the 3rd quarter valued at about $2,496,000. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Zillow Group in the third quarter worth approximately $376,000. Root Financial Partners LLC purchased a new stake in shares of Zillow Group in the third quarter worth approximately $34,000. IFP Advisors Inc raised its stake in shares of Zillow Group by 97.0% in the third quarter. IFP Advisors Inc now owns 469,184 shares of the financial services provider’s stock worth $12,729,000 after purchasing an additional 231,002 shares during the last quarter. Finally, NFSG Corp bought a new position in shares of Zillow Group in the third quarter valued at approximately $98,000. Institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Performance

Zillow Group stock opened at $30.96 on Friday. Zillow Group, Inc. has a fifty-two week low of $26.67 and a fifty-two week high of $77.07. The stock has a market cap of $6.96 billion, a PE ratio of 140.73, a price-to-earnings-growth ratio of 1.32 and a beta of 2.04. The firm’s 50-day simple moving average is $31.25 and its 200 day simple moving average is $39.17.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. As a group, analysts predict that Zillow Group, Inc. will post 0.91 EPS for the current fiscal year.

Insider Activity

In other news, CTO David A. Beitel sold 1,798 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $61,563.52. Following the completion of the transaction, the chief technology officer directly owned 133,013 shares of the company’s stock, valued at $4,554,365.12. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of the transaction, the chief executive officer directly owned 138,574 shares of the company’s stock, valued at approximately $4,736,459.32. This represents a 6.31% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 38,539 shares of company stock worth $1,323,800. Corporate insiders own 25.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Z has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on Zillow Group from $60.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 13th. Sanford C. Bernstein downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Wall Street Zen lowered Zillow Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. lowered their price target on Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Finally, Evercore cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given 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 presently has a consensus rating of “Hold” and an average target price of $57.71.

About Zillow Group

Zillow Group, Inc (NASDAQ: Z) operates a digital real estate marketplace in the United States. Its platforms help consumers search for homes, research neighborhoods and market conditions, connect with real estate professionals, and manage various steps in the home-buying, selling, renting and financing processes.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, which provide property listings and real estate information. Zillow Group also offers services for real estate professionals, including marketing, lead generation, transaction management and showing coordination through products such as Zillow Premier Agent and ShowingTime+.

Through Zillow Home Loans and other affiliated services, the company provides or facilitates mortgage and closing-related solutions.