Sumitomo Mitsui Trust Group Inc. Sells 13,668 Shares of Zillow Group, Inc. $Z

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 567,181 shares of the financial services provider’s stock after selling 13,668 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Zillow Group worth $39,731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. IFP Advisors Inc boosted its position in Zillow Group by 288.9% in the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 338 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Zillow Group by 352.0% during the 2nd quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 352 shares during the period. National Pension Service raised its stake in shares of Zillow Group by 74.8% during the 1st quarter. National Pension Service now owns 577 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 247 shares during the period. GAMMA Investing LLC raised its stake in shares of Zillow Group by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 196 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Zillow Group during the 1st quarter worth $49,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Trading Down 0.5%

Z opened at $76.76 on Tuesday. The stock has a fifty day simple moving average of $80.50 and a two-hundred day simple moving average of $74.82. The company has a market cap of $18.60 billion, a price-to-earnings ratio of -295.23, a price-to-earnings-growth ratio of 26.37 and a beta of 2.13. Zillow Group, Inc. has a 12-month low of $57.00 and a 12-month high of $93.88.

Insider Transactions at Zillow Group

In other news, CTO David A. Beitel sold 22,510 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $90.97, for a total value of $2,047,734.70. Following the sale, the chief technology officer directly owned 144,549 shares of the company’s stock, valued at approximately $13,149,622.53. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director April Underwood sold 3,621 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $90.12, for a total value of $326,324.52. Following the completion of the sale, the director directly owned 483 shares in the company, valued at approximately $43,527.96. This represents a 88.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 657,087 shares of company stock valued at $56,286,479. 25.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Z has been the topic of a number of recent analyst reports. Sanford C. Bernstein upgraded Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Wednesday, September 17th. Mizuho upgraded Zillow Group to a “strong-buy” rating in a research note on Monday, September 29th. Oppenheimer initiated coverage on Zillow Group in a research note on Monday, October 6th. They set a “market perform” rating on the stock. Bank of America lifted their target price on Zillow Group from $81.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and an average target price of $90.43.

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.