Zillow Group, Inc. $Z Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP cut its stake in Zillow by 25.9% in Q3, selling 34,056 shares and ending the quarter with 97,223 shares valued at about $7.49 million.
• Company insiders have sold a total of 60,801 shares (≈$2.68 million) in the last three months — including sales by Errol G. Samuelson and Dan Spaulding — leaving insiders with roughly 25.03% ownership.
• Analysts hold a consensus "Hold" rating with a $90.60 price target, while Zillow shares trade around $41.25 and sit within a 52‑week range of $41.13–$93.88.

Korea Investment CORP decreased its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 25.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,223 shares of the financial services provider's stock after selling 34,056 shares during the quarter. Korea Investment CORP's holdings in Zillow Group were worth $7,491,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Hel Ved Capital Management Ltd purchased a new stake in Zillow Group during the 3rd quarter valued at about $543,000. Amova Asset Management Americas Inc. lifted its stake in Zillow Group by 114.1% in the 3rd quarter. Amova Asset Management Americas Inc. now owns 454,958 shares of the financial services provider's stock worth $35,036,000 after purchasing an additional 242,453 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Zillow Group by 109.0% during the 3rd quarter. ARK Investment Management LLC now owns 261,166 shares of the financial services provider's stock worth $20,123,000 after purchasing an additional 136,228 shares during the last quarter. Bellwether Advisors LLC acquired a new position in shares of Zillow Group during the 3rd quarter worth approximately $1,758,000. Finally, NZS Capital LLC grew its position in shares of Zillow Group by 6.7% in the third quarter. NZS Capital LLC now owns 322,803 shares of the financial services provider's stock valued at $24,872,000 after purchasing an additional 20,373 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $41.25 on Friday. The stock has a 50 day moving average of $55.83 and a 200 day moving average of $68.90. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 458.38, a PEG ratio of 2.51 and a beta of 2.10. Zillow Group, Inc. has a fifty-two week low of $41.13 and a fifty-two week high of $93.88.

Zillow Group (NASDAQ:Z - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. Analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling

In other news, insider Errol G. Samuelson sold 7,015 shares of the company's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $44.21, for a total value of $310,133.15. Following the transaction, the insider directly owned 113,800 shares in the company, valued at approximately $5,031,098. This represents a 5.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dan Spaulding sold 5,361 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total transaction of $235,615.95. Following the transaction, the insider directly owned 41,080 shares of the company's stock, valued at $1,805,466. The trade was a 11.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,801 shares of company stock valued at $2,683,986 over the last three months. Company insiders own 25.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on Z shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Zillow Group in a report on Wednesday, February 11th. Keefe, Bruyette & Woods dropped their target price on Zillow Group from $80.00 to $65.00 and set a "market perform" rating for the company in a report on Monday, February 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zillow Group in a research note on Wednesday, January 21st. Zelman & Associates upgraded Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Finally, Mizuho cut shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $90.60.

Zillow Group Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company's platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company's automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.

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