Zillow Group, Inc. $Z Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Zillow stake by 7.3%, selling 60,996 shares and leaving 776,138 shares (~0.32% of the company) valued at about $52.95 million at quarter-end.
• Company insiders have been net sellers: CFO Jeremy Hofmann sold 7,786 shares and CEO Jeremy Wacksman sold 13,661 shares, with insiders offloading 60,801 shares in the last three months (insiders now own 25.03%).
• Zillow missed EPS estimates ($0.39 vs. $0.42) while reporting $654M in revenue, trades around $43.50 with a high P/E (~483), and carries a consensus analyst rating of Hold with an average price target of $90.60.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 776,138 shares of the financial services provider's stock after selling 60,996 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.32% of Zillow Group worth $52,948,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of Z. Root Financial Partners LLC acquired a new stake in Zillow Group in the third quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Zillow Group in the fourth quarter worth approximately $28,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Zillow Group in the third quarter worth approximately $29,000. Cullen Frost Bankers Inc. boosted its stake in shares of Zillow Group by 58.6% in the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider's stock worth $34,000 after acquiring an additional 163 shares during the last quarter. Finally, Pittenger & Anderson Inc. boosted its stake in shares of Zillow Group by 32.8% in the third quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider's stock worth $42,000 after acquiring an additional 135 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Zillow Group Stock Up 6.4%

NASDAQ:Z opened at $43.50 on Thursday. Zillow Group, Inc. has a 52 week low of $39.05 and a 52 week high of $93.88. The company has a market capitalization of $10.44 billion, a P/E ratio of 483.39, a P/E/G ratio of 2.01 and a beta of 2.14. The stock's fifty day moving average is $44.31 and its two-hundred day moving average is $61.61.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on Z. Barclays raised Zillow Group from a "strong sell" rating to a "hold" rating in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zillow Group in a research note on Wednesday, January 21st. Zelman & Associates raised Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. Keefe, Bruyette & Woods lowered their price target on Zillow Group from $80.00 to $65.00 and set a "market perform" rating on the stock in a research note on Monday, February 9th. Finally, Mizuho lowered Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $90.60.

Insider Buying and Selling

In other Zillow Group news, CFO Jeremy Hofmann sold 7,786 shares of Zillow Group stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total value of $340,481.78. Following the sale, the chief financial officer owned 57,487 shares in the company, valued at $2,513,906.51. The trade was a 11.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Wacksman sold 13,661 shares of Zillow Group stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the completion of the sale, the chief executive officer owned 116,322 shares in the company, valued at $5,147,248.50. This represents a 10.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 60,801 shares of company stock valued at $2,683,986. 25.03% of the stock is currently owned by company insiders.

About Zillow Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.