Zillow Group, Inc. (NASDAQ:Z) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in Zillow Group by 84.4%, selling 50,920 shares and leaving it with a total of 9,383 shares valued at approximately $643,000.
• Institutional investors own 71.01% of Zillow Group's stock, with multiple hedge funds adjusting their holdings, including an 11.4% increase from Ninety One UK Ltd.
• Zillow Group's stock recently experienced a 1.9% decrease, with a consensus price target of $88.29 following several analysts' updates on the stock ratings and price objectives.

US Bancorp DE trimmed its position in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 84.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,383 shares of the financial services provider's stock after selling 50,920 shares during the quarter. US Bancorp DE's holdings in Zillow Group were worth $643,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of Z. IFP Advisors Inc increased its position in shares of Zillow Group by 288.9% during the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 338 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Zillow Group by 47.7% during the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 196 shares during the last quarter. Natixis acquired a new stake in shares of Zillow Group during the fourth quarter valued at about $80,000. Parallel Advisors LLC increased its position in shares of Zillow Group by 141.8% during the first quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 984 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Zillow Group during the fourth quarter valued at about $119,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zillow Group

In other news, CFO Jeremy Hofmann sold 7,959 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $549,011.82. Following the completion of the transaction, the chief financial officer directly owned 97,481 shares of the company's stock, valued at $6,724,239.38. This trade represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thielke Claire Cormier sold 8,247 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $79.86, for a total transaction of $658,605.42. Following the transaction, the director directly owned 725 shares of the company's stock, valued at approximately $57,898.50. This trade represents a 91.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,713 shares of company stock valued at $16,197,138 in the last ninety days. Company insiders own 25.03% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Zelman & Associates reissued a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. Bank of America boosted their price objective on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Wedbush reissued an "outperform" rating and set a $100.00 price objective on shares of Zillow Group in a research report on Monday, May 5th. William Blair initiated coverage on Zillow Group in a research report on Monday, April 21st. They set a "market perform" rating for the company. Finally, Keefe, Bruyette & Woods lowered their price objective on Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $88.29.

Zillow Group Stock Performance

Z traded up $4.67 on Wednesday, hitting $84.84. 4,995,004 shares of the company were exchanged, compared to its average volume of 2,668,503. The business's fifty day moving average is $75.36 and its 200 day moving average is $72.77. Zillow Group, Inc. has a fifty-two week low of $51.94 and a fifty-two week high of $89.39. The firm has a market capitalization of $20.48 billion, a P/E ratio of -326.31, a price-to-earnings-growth ratio of 13.02 and a beta of 2.09.

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.