Zevenbergen Capital Investments LLC Sells 32,798 Shares of Zillow Group, Inc. $Z

Zevenbergen Capital Investments LLC trimmed its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 791,746 shares of the financial services provider’s stock after selling 32,798 shares during the period. Zillow Group accounts for approximately 1.2% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 26th biggest position. Zevenbergen Capital Investments LLC owned approximately 0.33% of Zillow Group worth $61,004,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in Z. Jump Financial LLC bought a new position in Zillow Group during the first quarter worth about $334,000. Vident Advisory LLC raised its stake in Zillow Group by 209.6% in the first quarter. Vident Advisory LLC now owns 12,828 shares of the financial services provider’s stock valued at $879,000 after buying an additional 8,684 shares during the period. Northern Trust Corp lifted its position in shares of Zillow Group by 4.7% in the first quarter. Northern Trust Corp now owns 1,015,899 shares of the financial services provider’s stock valued at $69,650,000 after buying an additional 45,376 shares during the last quarter. Arlington Partners LLC boosted its stake in shares of Zillow Group by 17.3% during the 2nd quarter. Arlington Partners LLC now owns 64,042 shares of the financial services provider’s stock worth $4,486,000 after acquiring an additional 9,448 shares during the period. Finally, L1 Capital Pty Ltd acquired a new position in shares of Zillow Group during the 2nd quarter worth approximately $26,651,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Zillow Group Trading Up 2.1%

Shares of NASDAQ:Z opened at $68.96 on Friday. Zillow Group, Inc. has a 1-year low of $57.51 and a 1-year high of $93.88. The stock has a market cap of $16.69 billion, a PE ratio of -492.54, a price-to-earnings-growth ratio of 26.55 and a beta of 2.10. The stock’s fifty day simple moving average is $72.82 and its two-hundred day simple moving average is $76.42.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The business had revenue of $729.00 million for the quarter, compared to analysts’ expectations of $670.28 million. Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. On average, sell-side analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on Z. Oppenheimer started coverage on Zillow Group in a report on Monday, October 6th. They set a “market perform” rating for the company. Mizuho raised shares of Zillow Group to a “strong-buy” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, October 8th. Gordon Haskett upgraded shares of Zillow Group to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and a consensus target price of $91.14.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 5,455 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $69.40, for a total value of $378,577.00. Following the transaction, the insider owned 50,342 shares in the company, valued at approximately $3,493,734.80. This represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Bradley D. Owens sold 2,722 shares of the stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $67.41, for a total transaction of $183,490.02. Following the transaction, the general counsel owned 37,974 shares of the company’s stock, valued at $2,559,827.34. This represents a 6.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 67,511 shares of company stock worth $4,766,357 in the last three months. Insiders own 25.03% of the company’s stock.

Zillow Group 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.