Wellington Management Group LLP Reduces Stock Holdings in Zillow Group, Inc. $Z

Key Points

• Wellington Management Group LLP reduced its stake in Zillow Group by 4.6%, selling 93,597 shares during the first quarter, leaving the firm with approximately 1.94 million shares valued at $133.25 million.
• Analyst ratings for Zillow Group show an overall consensus of "Hold" with a price target of $88.29, following recent adjustments by firms like Bank of America and JPMorgan Chase.
• Insider trading activity has increased, with significant sales reported, including COO Jun Choo's sale of 45,710 shares valued at approximately $3.89 million, indicating a decrease in insider confidence.

Wellington Management Group LLP cut its position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 4.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,943,561 shares of the financial services provider's stock after selling 93,597 shares during the period. Wellington Management Group LLP owned approximately 0.80% of Zillow Group worth $133,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of Z. Envestnet Asset Management Inc. raised its position in shares of Zillow Group by 2.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 56,318 shares of the financial services provider's stock valued at $4,170,000 after buying an additional 1,243 shares during the period. Mariner LLC raised its position in Zillow Group by 19.9% in the fourth quarter. Mariner LLC now owns 17,475 shares of the financial services provider's stock valued at $1,294,000 after purchasing an additional 2,897 shares during the period. Dimensional Fund Advisors LP raised its position in Zillow Group by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,540,831 shares of the financial services provider's stock valued at $114,109,000 after purchasing an additional 65,724 shares during the period. First Trust Advisors LP acquired a new position in shares of Zillow Group in the 4th quarter valued at $442,000. Finally, Natixis purchased a new position in shares of Zillow Group during the 4th quarter worth $80,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Performance

Shares of Z stock opened at $81.40 on Friday. Zillow Group, Inc. has a fifty-two week low of $52.86 and a fifty-two week high of $89.39. The company has a 50 day moving average price of $76.88 and a 200 day moving average price of $72.80. The stock has a market capitalization of $19.72 billion, a P/E ratio of -313.08, a price-to-earnings-growth ratio of 15.27 and a beta of 2.09.

Analyst Ratings Changes

Z has been the topic of several research analyst reports. Bank of America boosted their price objective on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Keefe, Bruyette & Woods reduced their price target on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Wells Fargo & Company upgraded shares of Zillow Group to a "hold" rating in a report on Monday, April 28th. Finally, Wedbush restated an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a research note on Monday, May 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $88.29.

Insiders Place Their Bets

In related news, COO Jun Choo sold 45,710 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $85.21, for a total transaction of $3,894,949.10. Following the completion of the transaction, the chief operating officer directly owned 117,098 shares of the company's stock, valued at $9,977,920.58. The trade was a 28.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thielke Claire Cormier sold 8,247 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $79.86, for a total value of $658,605.42. Following the sale, the director owned 725 shares in the company, valued at approximately $57,898.50. This trade represents a 91.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 580,379 shares of company stock valued at $49,319,729. Corporate insiders own 25.03% of the company's stock.

About Zillow Group

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.

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