Entropy Technologies LP Sells 5,112 Shares of Zillow Group, Inc. (NASDAQ:Z)

Key Points

• Entropy Technologies LP decreased its position in Zillow Group by 17.6%, owning 24,014 shares worth approximately $1.65 million after selling 5,112 shares in the first quarter.
• Vanguard Group increased its holdings in Zillow Group by 7.8%, now owning about 22.6 million shares valued at $1.55 billion, contributing to a total of 71.01% of the stock held by institutional investors.
• Analysts have set a new price target for Zillow Group, with a consensus of $88.29, while ratings show nine analysts have a "hold" rating and one a "strong buy" rating for the stock.

Entropy Technologies LP reduced its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 17.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,014 shares of the financial services provider's stock after selling 5,112 shares during the quarter. Entropy Technologies LP's holdings in Zillow Group were worth $1,646,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Zillow Group by 7.8% during the first quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider's stock valued at $1,548,767,000 after acquiring an additional 1,628,577 shares in the last quarter. Ninety One UK Ltd boosted its position in shares of Zillow Group by 11.4% during the first 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 last quarter. Dorsal Capital Management LP boosted its position in shares of Zillow Group by 4.7% during the fourth quarter. Dorsal Capital Management LP now owns 3,350,000 shares of the financial services provider's stock valued at $248,068,000 after buying an additional 150,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Zillow Group by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,584,537 shares of the financial services provider's stock valued at $108,636,000 after buying an additional 45,828 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Zillow Group by 4.5% during 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 buying an additional 65,724 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on Z shares. Keefe, Bruyette & Woods cut their price objective on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company raised Zillow Group to a "hold" rating in a research report on Monday, April 28th. Wedbush reaffirmed an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a research report on Monday, May 5th. JPMorgan Chase & Co. upped their price target on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Bank of America upped their price target on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $88.29.

Insider Transactions at Zillow Group

In related news, insider Dan Spaulding sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the completion of the transaction, the insider owned 68,889 shares of the company's stock, valued at $5,918,253.99. This trade represents a 59.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $79.86, for a total value 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,713 shares of company stock worth $16,197,138. 25.03% of the stock is owned by insiders.

Zillow Group Trading Up 5.8%

NASDAQ Z traded up $4.67 on Wednesday, hitting $84.84. The company's stock had a trading volume of 4,995,004 shares, compared to its average volume of 2,668,503. Zillow Group, Inc. has a 52-week low of $51.94 and a 52-week high of $89.39. The company's 50-day simple moving average is $75.36 and its 200 day simple moving average is $72.77. The firm has a market cap of $20.48 billion, a P/E ratio of -326.31, a PEG 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.