Zillow Group, Inc. (NASDAQ:Z) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC reduced its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,130 shares of the financial services provider’s stock after selling 2,304 shares during the period. ARK Investment Management LLC’s holdings in Zillow Group were worth $11,117,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. abrdn plc boosted its holdings in shares of Zillow Group by 98.0% during 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 lifted its holdings in Zillow Group by 35.0% in the third quarter. IVY Lane Capital Management LLC now owns 135,000 shares of the financial services provider’s stock valued at $8,620,000 after acquiring an additional 35,000 shares during the last quarter. Donoghue Forlines LLC acquired a new position in Zillow Group in the fourth quarter valued at approximately $1,932,000. Thrivent Financial for Lutherans acquired a new position in Zillow Group in the third quarter valued at approximately $6,267,000. Finally, Friedenthal Financial acquired a new position in Zillow Group in the fourth quarter valued at approximately $754,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on Z. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $100.00 price objective on shares of Zillow Group in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upped their price objective on Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley upped 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 upgraded Zillow Group to a “hold” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Zillow Group Stock Up 2.9 %

NASDAQ:Z opened at $77.34 on Wednesday. The stock’s fifty day moving average is $78.19 and its two-hundred day moving average is $70.29. 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 $18.76 billion, a price-to-earnings ratio of -164.55, a price-to-earnings-growth ratio of 9.24 and a beta of 2.03.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. On average, sell-side analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In other news, CFO Jeremy Hofmann sold 23,388 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the sale, the chief financial officer now owns 99,362 shares of the company’s stock, valued at approximately $8,443,782.76. This represents a 19.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Errol G. Samuelson sold 6,967 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $541,475.24. Following the sale, the insider now directly owns 127,467 shares in the company, valued at $9,906,735.24. This represents a 5.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,663 shares of company stock valued at $4,004,931. 23.76% of the stock is currently owned by company insiders.

Zillow Group Company 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.