Zillow Group, Inc. $Z Stock: Ninety One North America Inc. Lowers Holdings

Key Points

• Ninety One North America cut its Zillow Group stake by 74.6% in the third quarter, selling 41,917 shares and retaining 14,246 shares worth approximately $386,000. Institutional investors and hedge funds collectively own 71.01% of the stock.
• Zillow reported quarterly earnings of $0.52 per share, exceeding estimates of $0.45, while revenue of $772 million also topped expectations. The stock traded around $30.90, near the lower end of its 52-week range of $26.67 to $79.40.
• Analyst sentiment is mostly cautious: the stock has an average “Hold” rating and a consensus price target of $57.71, although several firms recently reduced their price targets and downgraded their ratings.

Ninety One North America Inc. cut its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 74.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,246 shares of the financial services provider's stock after selling 41,917 shares during the quarter. Ninety One North America Inc.'s holdings in Zillow Group were worth $386,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in Z. Fortitude Family Office LLC purchased a new position in Zillow Group in the 3rd quarter worth $27,000. Farther Finance Advisors LLC grew its stake in Zillow Group by 704.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,631 shares of the financial services provider's stock valued at $153,000 after purchasing an additional 4,931 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Zillow Group during the 2nd quarter valued at about $4,676,000. Integrated Wealth Concepts LLC acquired a new position in shares of Zillow Group in the second quarter valued at about $78,000. Finally, Maven Securities LTD increased its holdings in shares of 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. 71.01% of the stock is owned by institutional investors and hedge funds.

Zillow Group Price Performance

NASDAQ:Z traded up $2.57 during mid-day trading on Thursday, hitting $30.90. The company's stock had a trading volume of 2,722,700 shares, compared to its average volume of 4,163,076. The business's fifty day moving average is $31.92 and its two-hundred day moving average is $35.08. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 140.21, a PEG ratio of 1.22 and a beta of 2.04. Zillow Group, Inc. has a 1 year low of $26.67 and a 1 year high of $79.40.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on Z. 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. Keefe, Bruyette & Woods dropped their target price on Zillow Group from $37.00 to $34.00 and set a "market perform" rating on the stock in a research report on Friday, August 7th. Sanford C. Bernstein downgraded shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Zillow Group from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Morgan Stanley reduced their price target on shares of Zillow Group from $60.00 to $35.00 and set an "equal weight" rating for the company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $57.71.

Insider Transactions at Zillow Group

In other Zillow Group news, Director Claire Cormier Thielke sold 1,187 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total value of $42,387.77. Following the completion of the transaction, the director directly owned 2,375 shares of the company's stock, valued at approximately $84,811.25. The trade was a 33.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erik C. Blachford sold 792 shares of the business'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 of the company's stock, valued at $1,219,853.60. The trade was a 2.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 38,539 shares of company stock valued at $1,323,800. 25.03% of the stock is owned by insiders.

About Zillow Group

Zillow Group, Inc is a technology company that operates digital real estate marketplaces and related services in the United States. Its platforms help consumers search for homes to buy or rent, research neighborhoods and property values, connect with real estate professionals, and manage aspects of the transaction process.

The company's portfolio includes Zillow, Trulia, StreetEasy and HotPads, along with services such as Zillow Premier Agent, Zillow Rentals, ShowingTime+ and Zillow Home Loans.

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