Zillow Group, Inc. (NASDAQ:Z) Shares Bought by Nan Fung Trinity HK Ltd.

Key Points

• Nan Fung Trinity HK Ltd. increased its stake in Zillow Group by 25.7% during the first quarter, now owning 391,640 shares valued at around $26.85 million, making it the firm's sixth largest holding.
• Recent insider trades indicate a 4.88% decrease in Zillow's Errol G. Samuelson's holdings after selling 6,962 shares, while CFO Jeremy Hofmann decreased his ownership by 7.55% after selling 7,959 shares.
• Multiple analysts have reduced their price targets for Zillow Group, with JPMorgan lowering it from $93 to $79, while the stock maintains a consensus rating of "Moderate Buy" with a target of $83.71.

Nan Fung Trinity HK Ltd. raised its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 25.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 391,640 shares of the financial services provider's stock after purchasing an additional 80,100 shares during the quarter. Zillow Group accounts for 4.3% of Nan Fung Trinity HK Ltd.'s holdings, making the stock its 6th largest holding. Nan Fung Trinity HK Ltd. owned 0.16% of Zillow Group worth $26,851,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caxton Associates LP purchased a new stake in shares of Zillow Group in the 4th quarter valued at $51,835,000. Castle Hook Partners LP purchased a new stake in shares of Zillow Group in the 4th quarter valued at $49,887,000. Polar Capital Holdings Plc purchased a new stake in shares of Zillow Group in the 4th quarter valued at $33,504,000. Altimeter Capital Management LP raised its holdings in shares of Zillow Group by 52.0% in the 4th quarter. Altimeter Capital Management LP now owns 1,300,738 shares of the financial services provider's stock valued at $96,320,000 after buying an additional 445,158 shares during the period. Finally, Ninety One UK Ltd raised its holdings in shares of Zillow Group by 11.4% in the 1st quarter. Ninety One UK Ltd now owns 4,029,503 shares of the financial services provider's stock valued at $276,263,000 after buying an additional 411,742 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on Z. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a report on Monday, April 28th. William Blair began coverage on Zillow Group in a report on Monday, April 21st. They set a "market perform" rating on the stock. Wedbush restated an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. Keefe, Bruyette & Woods cut their price target 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, JPMorgan Chase & Co. cut their price target on Zillow Group from $93.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Eight 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 company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $83.71.

Insider Buying and Selling

In other news, CFO Jeremy Hofmann sold 7,959 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $68.98, for a total value 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. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Jun Choo sold 11,725 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $68.77, for a total value of $806,328.25. Following the completion of the transaction, the chief operating officer directly owned 130,186 shares of the company's stock, valued at approximately $8,952,891.22. This trade represents a 8.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,093 shares of company stock valued at $6,989,688. Company insiders own 25.03% of the company's stock.

Zillow Group Price Performance

Z traded down $0.81 during trading on Wednesday, reaching $79.03. 1,277,144 shares of the stock were exchanged, compared to its average volume of 2,288,374. The business's 50 day moving average price is $72.09 and its two-hundred day moving average price is $72.35. The company has a market capitalization of $19.08 billion, a price-to-earnings ratio of -232.44, a P/E/G ratio of 14.75 and a beta of 2.11. Zillow Group, Inc. has a 1 year low of $41.67 and a 1 year high of $89.39.

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.