Zillow Group, Inc. $Z Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 16.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 241,241 shares of the financial services provider’s stock after selling 46,556 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Zillow Group were worth $6,545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tiger Global Management LLC grew its position in shares of Zillow Group by 21.7% in the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after acquiring an additional 1,312,000 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Zillow Group by 455.6% in the 1st quarter. Quantinno Capital Management LP now owns 641,618 shares of the financial services provider’s stock valued at $26,550,000 after purchasing an additional 526,142 shares during the period. Dimensional Fund Advisors LP lifted its stake in Zillow Group by 21.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,896,206 shares of the financial services provider’s stock valued at $78,461,000 after purchasing an additional 338,803 shares during the last quarter. Hsbc Holdings PLC increased its position in Zillow Group by 199.9% during the first quarter. Hsbc Holdings PLC now owns 439,222 shares of the financial services provider’s stock worth $18,182,000 after buying an additional 292,760 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Zillow Group by 97.0% during the third quarter. IFP Advisors Inc now owns 469,184 shares of the financial services provider’s stock worth $12,729,000 after buying an additional 231,002 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on Z shares. Evercore lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Morgan Stanley reduced their price objective on shares of Zillow Group from $60.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th. Sanford C. Bernstein downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods dropped their price objective on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a research report on Friday, August 7th. Finally, Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $57.71.

Zillow Group Stock Performance

NASDAQ:Z traded down $0.74 during mid-day trading on Friday, hitting $29.55. 3,724,112 shares of the stock were exchanged, compared to its average volume of 4,555,124. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of -56.83, a price-to-earnings-growth ratio of 1.38 and a beta of 1.98. The firm’s 50-day simple moving average is $30.81 and its 200 day simple moving average is $38.26. Zillow Group, Inc. has a fifty-two week low of $26.67 and a fifty-two week high of $77.07.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). The firm had revenue of $724.00 million during the quarter, compared to analyst estimates of $753.54 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. On average, analysts predict that Zillow Group, Inc. will post 0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeremy Wacksman sold 9,339 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $319,207.02. Following the transaction, the chief executive officer owned 138,574 shares in the company, valued at approximately $4,736,459.32. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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, Director Claire Cormier Thielke sold 1,187 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total value of $42,387.77. Following the completion of the transaction, the director directly owned 2,375 shares of the company’s stock, valued at approximately $84,811.25. This trade represents a 33.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 38,539 shares of company stock valued at $1,323,800 in the last quarter. Company insiders own 25.03% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc (NASDAQ: Z) operates a digital real estate marketplace in the United States. Its platforms help consumers search for homes, research neighborhoods and market conditions, connect with real estate professionals, and manage various steps in the home-buying, selling, renting and financing processes.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, which provide property listings and real estate information. Zillow Group also offers services for real estate professionals, including marketing, lead generation, transaction management and showing coordination through products such as Zillow Premier Agent and ShowingTime+.

Through Zillow Home Loans and other affiliated services, the company provides or facilitates mortgage and closing-related solutions.