QRG Capital Management Inc. Sells 16,860 Shares of Zillow Group, Inc. $Z

QRG Capital Management Inc. trimmed its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 66.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,532 shares of the financial services provider’s stock after selling 16,860 shares during the quarter. QRG Capital Management Inc.’s holdings in Zillow Group were worth $353,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Empowered Funds LLC grew its position in Zillow Group by 4.7% in the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 171 shares in the last quarter. Intech Investment Management LLC raised its position in Zillow Group by 21.7% during the first quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock valued at $1,407,000 after purchasing an additional 3,653 shares during the period. American Century Companies Inc. raised its position in Zillow Group by 1.6% during the second quarter. American Century Companies Inc. now owns 23,064 shares of the financial services provider’s stock valued at $1,616,000 after purchasing an additional 362 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Zillow Group by 186.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,092 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Zillow Group by 1,895.4% in the 2nd quarter. First Trust Advisors LP now owns 128,362 shares of the financial services provider’s stock valued at $8,992,000 after purchasing an additional 121,929 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Insider Activity at Zillow Group

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,364 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $37.23, for a total value of $125,241.72. Following the transaction, the general counsel owned 65,245 shares of the company’s stock, valued at $2,429,071.35. This represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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. Also, CEO Jeremy Wacksman sold 9,072 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the sale, the chief executive officer owned 153,699 shares in the company, valued at approximately $5,616,161.46. The trade was a 5.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,910 shares of company stock worth $1,605,732 over the last quarter. 25.03% of the stock is owned by insiders.

Trending Headlines about Zillow Group

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow launched Zillow Pro membership, a new offering that brings consumer insights directly to agents and could strengthen engagement and monetization of its platform over time. Zillow brings its consumer insights directly to agents with Zillow Pro membership
• Neutral Sentiment: Several firms, including Rosen, Faruqi & Faruqi, Schall, Bleichmar Fonti & Auld, BFA Law, Kahn Swick & Foti, Pomerantz, and Bronstein Gewirtz & Grossman, issued reminders about the August 10 lead-plaintiff deadline in the securities class action. These notices keep the lawsuit in focus but do not add new operational information.
• Neutral Sentiment: Investors were also pointed to a head-to-head article comparing Zillow with Viewtran Group, which is not a material company update.
• Neutral Sentiment: Another commentary piece noted Zillow’s profitability versus Opendoor’s losses, but this was analytical coverage rather than fresh company news.

Analyst Ratings Changes

A number of equities analysts have recently commented on Z shares. Keefe, Bruyette & Woods dropped their target price on Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. UBS Group cut their price objective on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Finally, Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and an average price target of $76.00.

Zillow Group Price Performance

Shares of NASDAQ:Z traded down $1.25 during trading hours on Friday, hitting $32.19. 2,596,440 shares of the company’s stock traded hands, compared to its average volume of 4,130,060. Zillow Group, Inc. has a 1 year low of $29.23 and a 1 year high of $93.88. The business has a fifty day moving average price of $35.21 and a 200-day moving average price of $46.46. The firm has a market capitalization of $7.37 billion, a P/E ratio of 128.76, a price-to-earnings-growth ratio of 1.38 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. As a group, equities analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

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.