Sumitomo Mitsui DS Asset Management Company Ltd Reduces Stake in Zillow Group, Inc. (NASDAQ:Z)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its stake in Zillow Group, Inc. (NASDAQ:Z) by 10.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,831 shares of the financial services provider’s stock after selling 1,868 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zillow Group were worth $1,172,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. abrdn plc increased its position in shares of Zillow Group by 98.0% in the 3rd quarter. abrdn plc now owns 48,990 shares of the financial services provider’s stock worth $3,128,000 after purchasing an additional 24,247 shares during the last quarter. IVY Lane Capital Management LLC raised its holdings in Zillow Group by 35.0% during the 3rd quarter. IVY Lane Capital Management LLC now owns 135,000 shares of the financial services provider’s stock worth $8,620,000 after buying an additional 35,000 shares during the period. Donoghue Forlines LLC acquired a new stake in Zillow Group during the 4th quarter valued at $1,932,000. Thrivent Financial for Lutherans purchased a new position in shares of Zillow Group during the 3rd quarter valued at $6,267,000. Finally, Friedenthal Financial bought a new position in Zillow Group during the fourth quarter valued at approximately $754,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insiders Place Their Bets

In other Zillow Group news, CTO David A. Beitel sold 56,750 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the transaction, the chief technology officer now directly owns 92 shares of the company’s stock, valued at approximately $6,659.88. The trade was a 99.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeremy Hofmann sold 23,388 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.98, for a total value of $1,987,512.24. Following the completion of the sale, the chief financial officer now owns 99,362 shares of the company’s stock, valued at $8,443,782.76. This trade represents a 19.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,730 shares of company stock worth $10,896,034. Insiders own 23.76% of the company’s stock.

Zillow Group Stock Down 1.9 %

NASDAQ Z opened at $86.32 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group, Inc. has a 52 week low of $38.45 and a 52 week high of $89.39. The stock has a market capitalization of $20.16 billion, a P/E ratio of -151.44, a price-to-earnings-growth ratio of 16.20 and a beta of 2.03. The stock has a fifty day moving average of $78.82 and a 200-day moving average of $68.06.

Zillow Group (NASDAQ:Z) last issued its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. On average, equities research analysts forecast that Zillow Group, Inc. will post -0.42 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on Z shares. KeyCorp raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Thursday, November 7th. Bank of America upped their price target on Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley lifted their price objective on Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Baird R W raised shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.67.

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.