Zillow Group, Inc. $Z Stock Position Cut by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Zillow Group, Inc. by 6.3% during the second quarter, bringing its total ownership to 0.12% of the company, valued at approximately $20.3 million.
• Institutional investors now hold 71.01% of Zillow Group's stock, with notable changes including Vanguard Group raising its position by 7.8% and AQR Capital Management increasing its stake by 320.0%.
• Insider sales included CFO Jeremy Hofmann selling 25,000 shares on September 8th for about $2.25 million, reflecting a 22.91% decrease in his position.

Robeco Institutional Asset Management B.V. reduced its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 289,830 shares of the financial services provider's stock after selling 19,340 shares during the period. Robeco Institutional Asset Management B.V. owned 0.12% of Zillow Group worth $20,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Zillow Group by 7.8% in the first quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider's stock worth $1,548,767,000 after purchasing an additional 1,628,577 shares during the period. Ninety One UK Ltd raised its stake in shares of Zillow Group by 17.4% in the 2nd quarter. Ninety One UK Ltd now owns 4,731,948 shares of the financial services provider's stock worth $331,473,000 after buying an additional 702,445 shares in the last quarter. Atreides Management LP acquired a new stake in shares of Zillow Group in the first quarter valued at $32,159,000. AQR Capital Management LLC boosted its stake in Zillow Group by 320.0% during the first quarter. AQR Capital Management LLC now owns 550,217 shares of the financial services provider's stock valued at $37,222,000 after buying an additional 419,202 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Zillow Group during the first quarter worth about $24,709,000. 71.01% of the stock is currently owned by institutional investors.

Zillow Group Stock Performance

Shares of NASDAQ:Z opened at $76.79 on Friday. The firm has a 50 day simple moving average of $83.19 and a 200 day simple moving average of $74.17. Zillow Group, Inc. has a 52 week low of $57.00 and a 52 week high of $93.88. The company has a market cap of $18.60 billion, a PE ratio of -295.35, a price-to-earnings-growth ratio of 21.38 and a beta of 2.13.

Insider Buying and Selling

In other Zillow Group news, CFO Jeremy Hofmann sold 25,000 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the completion of the sale, the chief financial officer directly owned 84,146 shares in the company, valued at approximately $7,572,298.54. This trade represents a 22.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director April Underwood sold 3,621 shares of Zillow Group stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $90.12, for a total value of $326,324.52. Following the transaction, the director directly owned 483 shares in the company, valued at approximately $43,527.96. This trade represents a 88.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 657,087 shares of company stock valued at $56,286,479. 25.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on Z shares. Bank of America upped their price target on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Sanford C. Bernstein raised shares of Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 target price for the company in a research note on Wednesday, September 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Zillow Group in a research report on Saturday, September 27th. JPMorgan Chase & Co. upped their price target on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Mizuho raised Zillow Group to a "strong-buy" rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.38.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.

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