Wellington Management Group LLP cut its stake in Zillow Group, Inc. (NASDAQ:Z – Free Report) by 57.8% in the second quarter, Holdings Channel.com reports. The firm owned 304,983 shares of the financial services provider’s stock after selling 417,986 shares during the period. Wellington Management Group LLP’s holdings in Zillow Group were worth $9,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of Z. Leonteq Securities AG increased its holdings in shares of Zillow Group by 627.0% during the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,160 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Zillow Group by 283.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $59,000 after buying an additional 1,045 shares during the period. IFC & Insurance Marketing Inc. bought a new stake in shares of Zillow Group in the fourth quarter valued at about $68,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Zillow Group during the fourth quarter worth about $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in Zillow Group by 34.5% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock worth $80,000 after buying an additional 300 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Zillow Group
In other Zillow Group news, CEO Jeremy Wacksman sold 9,339 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $319,207.02. Following the completion of the transaction, the chief executive officer directly owned 138,574 shares in the company, valued at $4,736,459.32. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Also, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the transaction, the chief financial officer directly owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. The trade was 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. Over the last ninety days, insiders sold 38,539 shares of company stock valued at $1,323,800. 23.76% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Get Our Latest Stock Analysis on Zillow Group
Zillow Group Stock Down 6.4%
NASDAQ:Z opened at $32.36 on Wednesday. Zillow Group, Inc. has a 12-month low of $29.23 and a 12-month high of $93.88. The firm has a market capitalization of $7.28 billion, a PE ratio of 147.10, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00. The firm has a 50-day moving average price of $33.91 and a 200 day moving average price of $37.88.
Zillow Group (NASDAQ:Z – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The company had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.10 million. On average, research analysts expect that Zillow Group, Inc. will post 0.89 EPS for the current year.
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.
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