NewEdge Wealth LLC cut its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 171,718 shares of the financial services provider's stock after selling 49,124 shares during the quarter. NewEdge Wealth LLC owned approximately 0.07% of Zillow Group worth $9,936,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Zions Bancorporation N.A. lifted its stake in Zillow Group by 371.7% in the first quarter. Zions Bancorporation N.A. now owns 500 shares of the financial services provider's stock valued at $25,000 after buying an additional 394 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Zillow Group in the third quarter worth $33,000. Montag A & Associates Inc. purchased a new position in Zillow Group in the third quarter worth $37,000. Resurgent Financial Advisors LLC purchased a new position in Zillow Group in the fourth quarter worth $29,000. Finally, Peoples Bank KS purchased a new position in Zillow Group in the third quarter worth $46,000. 71.01% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Zillow Group
In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of the business's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total value of $209,262.40. Following the transaction, the insider now owns 168,863 shares in the company, valued at $8,375,604.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of the business's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total value of $209,262.40. Following the transaction, the insider now owns 168,863 shares in the company, valued at $8,375,604.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Bradley D. Owens sold 966 shares of the business's stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total value of $56,037.66. Following the completion of the transaction, the general counsel now owns 17,181 shares in the company, valued at approximately $996,669.81. The disclosure for this sale can be found here. Insiders have sold 171,289 shares of company stock worth $9,642,508 over the last 90 days. 15.30% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts recently commented on Z shares. JPMorgan Chase & Co. increased their price objective on Zillow Group from $46.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, January 26th. Jefferies Financial Group increased their price objective on Zillow Group from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zillow Group presently has an average rating of "Hold" and an average target price of $58.75.
Check Out Our Latest Stock Analysis on Z
Zillow Group Price Performance
Shares of NASDAQ Z traded down $0.84 during mid-day trading on Friday, reaching $44.42. The company had a trading volume of 2,302,201 shares, compared to its average volume of 5,056,295. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22. The stock has a market cap of $10.37 billion, a PE ratio of -65.32 and a beta of 1.75. The company has a 50-day moving average price of $52.42 and a two-hundred day moving average price of $49.07. Zillow Group, Inc. has a 1-year low of $33.80 and a 1-year high of $61.13.
Zillow Group (NASDAQ:Z - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The financial services provider reported ($0.27) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.06. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. The business had revenue of $474.00 million for the quarter, compared to the consensus estimate of $450.75 million. On average, equities analysts anticipate that Zillow Group, Inc. will post -0.15 earnings per share for the current year.
Zillow Group Profile
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Free Report)
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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