Zillow Group, Inc. $Z Shares Sold by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd cut its Zillow Group stake by 92.6% in the second quarter, selling 89,348 shares and retaining 7,100 shares valued at approximately $224,000. Institutional investors still own about 71.01% of the company.
• Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $61.29, although several firms recently lowered their targets and ratings.
• Zillow shares opened at $29.81, near their 52-week low of $29.23 and below both their 50-day and 200-day moving averages. The company’s latest quarterly results exceeded expectations, reporting adjusted EPS of $0.52 and revenue of $772 million.

WINTON GROUP Ltd reduced its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 92.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,100 shares of the financial services provider's stock after selling 89,348 shares during the quarter. WINTON GROUP Ltd's holdings in Zillow Group were worth $224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Engineers Gate Manager LP acquired a new stake in shares of Zillow Group in the 2nd quarter worth $4,676,000. Integrated Wealth Concepts LLC acquired a new stake in Zillow Group in the second quarter valued at about $78,000. Maven Securities LTD lifted its position in Zillow Group by 80.0% in the second quarter. Maven Securities LTD now owns 73,385 shares of the financial services provider's stock valued at $2,313,000 after purchasing an additional 32,616 shares during the period. Nykredit A S purchased a new stake in Zillow Group in the 2nd quarter valued at approximately $238,000. Finally, Corient Private Wealth LP boosted its stake in shares of Zillow Group by 229.9% in the second quarter. Corient Private Wealth LP now owns 17,090 shares of the financial services provider's stock valued at $539,000 after buying an additional 11,909 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Zillow Group news, CEO Jeremy Wacksman sold 9,339 shares of Zillow Group stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $319,207.02. Following the sale, the chief executive officer directly owned 138,574 shares in the company, valued at $4,736,459.32. The trade was a 6.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 company's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total value of $28,282.32. Following the completion of the transaction, the director directly owned 34,160 shares in the company, valued at approximately $1,219,853.60. The trade was a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 38,539 shares of company stock worth $1,323,800 over the last quarter. Corporate insiders own 25.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada lowered their price target on Zillow Group from $95.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, June 10th. Jefferies Financial Group reduced their price objective on Zillow Group from $75.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen lowered Zillow Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. decreased their target price on Zillow Group from $76.00 to $62.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Finally, Evercore cut Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $61.29.

Zillow Group Stock Down 1.0%

Z opened at $29.81 on Friday. The firm's 50 day moving average is $33.69 and its 200-day moving average is $37.18. Zillow Group, Inc. has a 52-week low of $29.23 and a 52-week high of $90.64. The firm has a market capitalization of $6.70 billion, a P/E ratio of 135.51, a P/E/G ratio of 1.31 and a beta of 2.00.

Zillow Group (NASDAQ:Z - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. The firm had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. Equities analysts expect that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms designed to help consumers discover, buy, sell, rent and finance homes. Its websites and mobile applications provide property listings, home values, market data, search tools and connections to real estate professionals.

The company's portfolio includes Zillow, Trulia, StreetEasy and HotPads, which serve residential real estate consumers and professionals across the United States.

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