Zillow Group, Inc. $Z Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management cut its Zillow Group stake by 91.8% in the third quarter, selling 237,518 shares and retaining 21,117 shares worth approximately $573,000. Institutional investors own 71.01% of the company.
• Zillow shares opened at $32.62, well below their 12-month high of $78.10. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.52 in EPS and $772 million in revenue.
• Analyst sentiment is mixed but centers on a “Hold” consensus, with a $57.71 average price target. Recent price-target cuts and downgrades offset several Buy ratings, while insiders sold 38,539 shares worth $1.32 million over the past 90 days.

Robeco Institutional Asset Management B.V. cut its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 91.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,117 shares of the financial services provider's stock after selling 237,518 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Zillow Group were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Fortitude Family Office LLC bought a new stake in Zillow Group during the third quarter worth $27,000. Leonteq Securities AG lifted its stake in Zillow Group by 627.0% during the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 1,160 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Zillow Group by 283.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 1,045 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Zillow Group during the 2nd quarter valued at $78,000. Finally, NFSG Corp purchased a new position in Zillow Group during the 3rd quarter worth $98,000. Institutional investors own 71.01% of the company's stock.

Zillow Group Trading Down 1.1%

Shares of Zillow Group stock opened at $32.62 on Tuesday. The business's fifty day simple moving average is $31.57 and its 200 day simple moving average is $39.92. The firm has a market capitalization of $7.34 billion, a P/E ratio of 148.28, a price-to-earnings-growth ratio of 1.41 and a beta of 2.04. Zillow Group, Inc. has a 12 month low of $26.67 and a 12 month high of $78.10.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. The business had revenue of $772.00 million for the quarter, compared to analysts' expectations of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. Analysts predict that Zillow Group, Inc. will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on Z shares. Keefe, Bruyette & Woods reduced their target price on shares of Zillow Group from $37.00 to $34.00 and set a "market perform" rating for the company in a research note on Friday, August 7th. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a research report on Friday, October 16th. Jefferies Financial Group cut their price target on shares of Zillow Group from $75.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Zillow Group in a research report on Wednesday, August 19th. Finally, Sanford C. Bernstein downgraded shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $57.71.

Insider Activity at Zillow Group

In related news, insider Dan Spaulding sold 3,169 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the transaction, the insider directly owned 44,561 shares of the company's stock, valued at approximately $1,576,122.57. The trade was a 6.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Erik Blachford sold 792 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total transaction of $28,282.32. Following the transaction, the director owned 34,160 shares of the company's stock, valued at approximately $1,219,853.60. The trade was a 2.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 38,539 shares of company stock worth $1,323,800. 25.03% of the stock is owned by company insiders.

Zillow Group Profile

Zillow Group, Inc NASDAQ: Z operates a digital real estate marketplace in the United States. Its platforms help consumers search for homes, research neighborhoods and market conditions, connect with real estate professionals, and manage various steps in the home-buying, selling, renting and financing processes.

The company's portfolio includes Zillow, Trulia, StreetEasy and HotPads, which provide property listings and real estate information. Zillow Group also offers services for real estate professionals, including marketing, lead generation, transaction management and showing coordination through products such as Zillow Premier Agent and ShowingTime+.

Through Zillow Home Loans and other affiliated services, the company provides or facilitates mortgage and closing-related solutions.

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