Zillow Group, Inc. (NASDAQ:Z) Director Thielke Claire Cormier Sells 8,247 Shares

Key Points

• Zillow Group Director Thielke Claire Cormier sold 8,247 shares of the company's stock for $658,605.42, reducing their ownership by 91.92%.
• Shares of Zillow Group increased by 5.8% to $84.84 during midday trading, with trading volume significantly above average.
• Several hedge funds have increased their positions in Zillow, with TB Alternative Assets Ltd. boosting its holdings by 49.0%, indicating strong institutional support for the stock.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) Director Thielke Claire Cormier sold 8,247 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $79.86, for a total transaction of $658,605.42. Following the transaction, the director owned 725 shares in the company, valued at approximately $57,898.50. This trade represents a 91.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Thielke Claire Cormier also recently made the following trade(s):

• On Thursday, June 12th, Thielke Claire Cormier sold 241 shares of Zillow Group stock. The stock was sold at an average price of $70.45, for a total transaction of $16,978.45.

Zillow Group Stock Performance

Shares of NASDAQ:Z traded down $0.16 during midday trading on Friday, reaching $85.11. 2,391,941 shares of the company's stock were exchanged, compared to its average volume of 2,926,148. The company's 50 day simple moving average is $75.96 and its two-hundred day simple moving average is $72.81. The firm has a market capitalization of $20.55 billion, a PE ratio of -327.35, a price-to-earnings-growth ratio of 13.85 and a beta of 2.09. Zillow Group, Inc. has a 12 month low of $52.45 and a 12 month high of $89.39.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Zillow Group to a "hold" rating in a report on Monday, April 28th. Wedbush reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Zillow Group in a report on Monday, May 5th. Bank of America upped their price objective on shares of Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. William Blair assumed coverage on shares of Zillow Group in a report on Monday, April 21st. They set a "market perform" rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $88.29.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently made changes to their positions in Z. Vanguard Group Inc. increased its position in shares of Zillow Group by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 23,002,526 shares of the financial services provider's stock worth $1,611,327,000 after purchasing an additional 412,571 shares in the last quarter. Independent Franchise Partners LLP increased its position in shares of Zillow Group by 2.5% during the 1st quarter. Independent Franchise Partners LLP now owns 11,153,697 shares of the financial services provider's stock worth $764,697,000 after purchasing an additional 271,084 shares in the last quarter. Ninety One UK Ltd increased its position in 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 valued at $331,473,000 after acquiring an additional 702,445 shares in the last quarter. Eminence Capital LP increased its position in Zillow Group by 63.6% in the 2nd quarter. Eminence Capital LP now owns 3,978,731 shares of the financial services provider's stock valued at $278,710,000 after acquiring an additional 1,546,577 shares in the last quarter. Finally, Dorsal Capital Management LP increased its position in Zillow Group by 4.7% in the 4th quarter. Dorsal Capital Management LP now owns 3,350,000 shares of the financial services provider's stock valued at $248,068,000 after acquiring an additional 150,000 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Zillow Group Company Profile

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.