HB Wealth Management LLC Reduces Stake in Zillow Group, Inc. $Z

HB Wealth Management LLC cut its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 48.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 103,713 shares of the financial services provider’s stock after selling 99,087 shares during the period. HB Wealth Management LLC’s holdings in Zillow Group were worth $3,269,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. denkapparat Operations GmbH acquired a new stake in Zillow Group in the second quarter valued at $541,000. NEOS Investment Management LLC boosted its position in shares of Zillow Group by 16.4% in the 2nd quarter. NEOS Investment Management LLC now owns 34,956 shares of the financial services provider’s stock worth $1,102,000 after buying an additional 4,920 shares in the last quarter. AXQ Capital LP boosted its position in shares of Zillow Group by 17.3% in the 2nd quarter. AXQ Capital LP now owns 19,922 shares of the financial services provider’s stock worth $628,000 after buying an additional 2,940 shares in the last quarter. Nykredit A S acquired a new stake in Zillow Group in the 2nd quarter valued at about $238,000. Finally, Quantitative Investment Management LLC grew its stake in Zillow Group by 62.2% in the 2nd quarter. Quantitative Investment Management LLC now owns 67,275 shares of the financial services provider’s stock valued at $2,120,000 after acquiring an additional 25,807 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Trading Down 6.4%

Shares of Z stock opened at $32.36 on Wednesday. The firm has a 50-day moving average price of $33.91 and a 200 day moving average price of $37.88. Zillow Group, Inc. has a twelve month low of $29.23 and a twelve month high of $93.88. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 147.10, a PEG ratio of 1.51 and a beta of 2.00.

Zillow Group (NASDAQ:Z) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating 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 company had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.10 million. As a group, research analysts predict that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on Z. Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Jefferies Financial Group lowered their price target on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Sanford C. Bernstein cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. cut their price objective 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, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.75.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 3,154 shares of Zillow Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $107,992.96. Following the completion of the sale, the insider directly owned 130,885 shares of the company’s stock, valued at approximately $4,481,502.40. The trade was a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,661 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the transaction, the chief financial officer owned 59,144 shares of the company’s stock, valued at $2,021,541.92. This trade represents a 8.74% 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. In the last ninety days, insiders have sold 38,539 shares of company stock valued at $1,323,800. 23.76% 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.