Sumitomo Mitsui Trust Group Inc. Sells 3,523 Shares of Zillow Group, Inc. (NASDAQ:Z)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 0.6% in the third quarter, Holdings Channel reports. The fund owned 609,407 shares of the financial services provider’s stock after selling 3,523 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Zillow Group were worth $38,911,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC boosted its holdings in shares of Zillow Group by 364.4% in the 2nd quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 481 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Zillow Group by 400.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Zillow Group during the third quarter worth $35,000. Blue Trust Inc. increased its stake in shares of Zillow Group by 66.3% in the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after buying an additional 313 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Zillow Group in the second quarter valued at $61,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on Z shares. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Cantor Fitzgerald raised shares of Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Craig Hallum upgraded shares of Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, UBS Group upgraded Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $73.04 on Friday. The firm has a fifty day moving average of $63.61 and a two-hundred day moving average of $53.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. The stock has a market capitalization of $16.90 billion, a price-to-earnings ratio of -128.14 and a beta of 1.95. Zillow Group, Inc. has a 52 week low of $37.63 and a 52 week high of $76.69.

Insider Buying and Selling

In other Zillow Group news, General Counsel Bradley D. Owens sold 1,212 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total value of $89,663.76. Following the completion of the sale, the general counsel now owns 31,739 shares of the company’s stock, valued at approximately $2,348,051.22. This represents a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Wacksman sold 9,136 shares of Zillow Group stock in a transaction on Friday, November 15th. The stock was sold at an average price of $73.22, for a total transaction of $668,937.92. Following the transaction, the chief executive officer now directly owns 152,542 shares in the company, valued at approximately $11,169,125.24. This represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,069 shares of company stock valued at $9,569,415 over the last three months. Company insiders own 23.76% of the company’s stock.

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.