Legal & General Group Plc Sells 69,867 Shares of Zillow Group, Inc. $Z

Legal & General Group Plc reduced its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 687,308 shares of the financial services provider’s stock after selling 69,867 shares during the period. Legal & General Group Plc’s holdings in Zillow Group were worth $46,888,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in Z. V Square Quantitative Management LLC bought a new position in shares of Zillow Group during the fourth quarter valued at about $28,000. Pittenger & Anderson Inc. lifted its position in shares of Zillow Group by 32.8% during the third quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 135 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Zillow Group during the fourth quarter valued at about $43,000. Clearstead Advisors LLC raised its position in Zillow Group by 4,119.0% in the third quarter. Clearstead Advisors LLC now owns 886 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 865 shares during the period. Finally, GAMMA Investing LLC raised its position in Zillow Group by 21.4% in the fourth quarter. GAMMA Investing LLC now owns 1,186 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 209 shares during the period. 71.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Jeremy Wacksman sold 9,072 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the sale, the chief executive officer owned 153,699 shares of the company’s stock, valued at $5,616,161.46. The trade was a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Hofmann sold 5,501 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $37.40, for a total transaction of $205,737.40. Following the completion of the sale, the chief financial officer directly owned 68,315 shares in the company, valued at approximately $2,554,981. This trade represents a 7.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last quarter, insiders have sold 42,119 shares of company stock valued at $1,578,206. Corporate insiders own 25.03% of the company’s stock.

Zillow Group Stock Performance

Shares of Z stock opened at $35.00 on Friday. The firm’s 50-day simple moving average is $41.31 and its two-hundred day simple moving average is $54.63. Zillow Group, Inc. has a 52 week low of $34.70 and a 52 week high of $93.88. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 140.00, a P/E/G ratio of 1.50 and a beta of 2.07.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Zillow Group from $60.00 to $50.00 and set a “market perform” rating on the stock in a research report on Thursday, May 7th. Zelman & Associates raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. UBS Group lowered their price objective on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Zillow Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.