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

Key Points

• Sumitomo Mitsui Trust Group cut its Zillow stake by 16.2% in the third quarter, selling 46,556 shares and retaining 241,241 shares valued at about $6.5 million.
• Zillow reported quarterly EPS of $0.55, below the $0.58 consensus, and revenue of $724 million, short of the $753.5 million estimate. Shares fell 2.4% to $29.55 in Friday trading.
• Analysts’ overall rating was Hold, with a consensus price target of $57.71; ratings ranged from one Strong Buy to one Sell.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 16.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 241,241 shares of the financial services provider's stock after selling 46,556 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.11% of Zillow Group worth $6,545,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in shares of Zillow Group by 2.0% during the first quarter. NewEdge Advisors LLC now owns 38,052 shares of the financial services provider's stock worth $1,575,000 after purchasing an additional 750 shares during the period. KBC Group NV lifted its stake in Zillow Group by 2.9% in the first quarter. KBC Group NV now owns 33,219 shares of the financial services provider's stock valued at $1,375,000 after buying an additional 951 shares during the period. Fortitude Family Office LLC bought a new position in Zillow Group during the third quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its holdings in Zillow Group by 283.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider's stock worth $59,000 after buying an additional 1,045 shares during the last quarter. Finally, Wedmont Private Capital grew its position in shares of Zillow Group by 24.3% during the 2nd quarter. Wedmont Private Capital now owns 6,296 shares of the financial services provider's stock worth $203,000 after buying an additional 1,231 shares during the period. Institutional investors own 71.01% of the company's stock.

Insiders Place Their Bets

In other Zillow Group news, Director Claire Cormier Thielke sold 1,187 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total transaction of $42,387.77. Following the sale, the director directly owned 2,375 shares of the company's stock, valued at $84,811.25. The trade was a 33.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Hofmann sold 5,661 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $193,492.98. Following the sale, the chief financial officer directly owned 59,144 shares in the company, valued at $2,021,541.92. This trade represents a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 38,539 shares of company stock valued at $1,323,800 over the last 90 days. 25.03% of the stock is currently owned by company insiders.

Zillow Group Trading Down 2.4%

Shares of Zillow Group stock traded down $0.74 during trading on Friday, reaching $29.55. The stock had a trading volume of 3,724,112 shares, compared to its average volume of 4,555,124. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of -56.83, a P/E/G ratio of 1.38 and a beta of 1.98. The stock has a fifty day moving average price of $30.81 and a two-hundred day moving average price of $38.26. Zillow Group, Inc. has a 52 week low of $26.67 and a 52 week high of $77.07.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The firm had revenue of $724.00 million for the quarter, compared to the consensus estimate of $753.54 million. On average, equities analysts forecast that Zillow Group, Inc. will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wall Street Zen lowered Zillow Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Morgan Stanley decreased their price objective on Zillow Group from $60.00 to $35.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 13th. Weiss Ratings reissued a "sell (d)" rating on shares of Zillow Group in a research note on Wednesday, August 19th. Needham & Company LLC restated a "hold" rating on shares of Zillow Group in a report on Thursday. Finally, 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 research note on Tuesday, July 14th. 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 given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $57.71.

About Zillow Group

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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