Zillow Group, Inc. (NASDAQ:Z) Shares Sold by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co reduced its stake in Zillow Group by 6.2%, now holding 655,153 shares worth approximately $44.9 million.
• Vanguard Group increased its stake in Zillow Group by 7.8%, now owning over 22.5 million shares valued at about $1.55 billion.
• The stock received mixed reviews from analysts, with price targets ranging from $76.00 to $100.00, reflecting varied expectations for its performance.

Fayez Sarofim & Co decreased its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 655,153 shares of the financial services provider's stock after selling 43,150 shares during the quarter. Fayez Sarofim & Co owned about 0.27% of Zillow Group worth $44,917,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of Z. Vanguard Group Inc. increased its stake in shares of Zillow Group by 7.8% in the first quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider's stock worth $1,548,767,000 after acquiring an additional 1,628,577 shares during the period. Ninety One UK Ltd increased its stake in shares of Zillow Group by 11.4% in the first quarter. Ninety One UK Ltd now owns 4,029,503 shares of the financial services provider's stock worth $276,263,000 after acquiring an additional 411,742 shares during the period. Dorsal Capital Management LP increased its stake in shares of Zillow Group by 4.7% in the fourth quarter. Dorsal Capital Management LP now owns 3,350,000 shares of the financial services provider's stock worth $248,068,000 after acquiring an additional 150,000 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Zillow Group by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,584,537 shares of the financial services provider's stock worth $108,636,000 after acquiring an additional 45,828 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 worth $114,109,000 after acquiring an additional 65,724 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Transactions at Zillow Group

In related news, Director Gordon Sheridan Stephenson sold 10,000 shares of Zillow Group stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $70.69, for a total value of $706,900.00. Following the completion of the transaction, the director owned 28,290 shares in the company, valued at approximately $1,999,820.10. The trade was a 26.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 7,959 shares of Zillow Group 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 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,371 shares of company stock valued at $5,775,204. 25.03% of the stock is owned by corporate insiders.

Zillow Group Price Performance

Shares of Z opened at $85.18 on Thursday. Zillow Group, Inc. has a 1-year low of $41.67 and a 1-year high of $89.39. The stock has a market cap of $20.57 billion, a PE ratio of -250.53, a P/E/G ratio of 15.24 and a beta of 2.09. The firm has a 50-day simple moving average of $73.96 and a two-hundred day simple moving average of $72.67.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on Z shares. Keefe, Bruyette & Woods lowered 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 report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price target on shares of Zillow Group from $93.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Wells Fargo & Company raised shares of Zillow Group to a "hold" rating in a report on Monday, April 28th. William Blair started coverage on shares of Zillow Group in a report on Monday, April 21st. They set a "market perform" rating on the stock. Finally, Wedbush reissued an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.71.

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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