Zillow Group, Inc. (NASDAQ:Z) Shares Sold by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. reduced its holdings in Zillow Group, Inc. by 3.4%, now holding 224,337 shares valued at approximately $15.38 million.
• Insider selling has been notable, with Zillow's COO selling over 11,000 shares, representing an 8.26% decrease in ownership.
• Multiple analysts rated Zillow shares, with an average target price of $83.71 and a consensus rating of "Moderate Buy."

Nikko Asset Management Americas Inc. trimmed its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 224,337 shares of the financial services provider's stock after selling 7,888 shares during the period. Nikko Asset Management Americas Inc. owned 0.09% of Zillow Group worth $15,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in Z. IFP Advisors Inc lifted its stake in shares of Zillow Group by 288.9% in the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 338 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Zillow Group by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 196 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Zillow Group in the 4th quarter valued at about $55,000. Natixis acquired a new position in shares of Zillow Group in the 4th quarter valued at about $80,000. Finally, Parallel Advisors LLC lifted its stake in shares of Zillow Group by 141.8% in the 1st quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock valued at $115,000 after purchasing an additional 984 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zillow Group

In other news, COO Jun Choo sold 11,725 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $68.77, for a total transaction of $806,328.25. Following the completion of the sale, the chief operating officer directly owned 130,186 shares of the company's stock, valued at $8,952,891.22. This represents a 8.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gordon Sheridan Stephenson sold 10,000 shares of the company's stock in a transaction 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 sale, the director directly owned 28,290 shares of the company's stock, valued at approximately $1,999,820.10. This represents a 26.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,093 shares of company stock valued at $6,989,688. Corporate insiders own 25.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. William Blair assumed coverage on Zillow Group in a report on Monday, April 21st. They set a "market perform" rating on the stock. Wedbush reiterated an "outperform" rating and set a $100.00 target price on shares of Zillow Group in a report on Monday, May 5th. JPMorgan Chase & Co. dropped their target price on Zillow Group from $93.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Keefe, Bruyette & Woods dropped their target price on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $83.71.

Zillow Group Stock Performance

NASDAQ:Z opened at $81.16 on Friday. 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 $19.60 billion, a price-to-earnings ratio of -238.71, a PEG ratio of 14.85 and a beta of 2.11. The business has a fifty day moving average of $71.56 and a 200-day moving average of $72.21.

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.

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