Zillow Group, Inc. (NASDAQ:Z) Stake Cut by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. reduced its holdings in Zillow Group, Inc. (NASDAQ:Z) by 3.4% in the 1st quarter, Holdings Channel reports. The fund owned 224,337 shares of the financial services provider’s stock after selling 7,888 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Zillow Group were worth $15,381,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of Z. Skandinaviska Enskilda Banken AB publ increased its position in Zillow Group by 2.6% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 30,649 shares of the financial services provider’s stock worth $2,101,000 after purchasing an additional 766 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Zillow Group in the 1st quarter worth about $1,403,000. Cetera Investment Advisers increased its position in Zillow Group by 54.4% in the 1st quarter. Cetera Investment Advisers now owns 13,593 shares of the financial services provider’s stock worth $932,000 after purchasing an additional 4,792 shares during the last quarter. Avantax Advisory Services Inc. increased its position in Zillow Group by 14.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,192 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 413 shares during the last quarter. Finally, Oak Thistle LLC increased its position in Zillow Group by 581.9% in the 1st quarter. Oak Thistle LLC now owns 18,935 shares of the financial services provider’s stock worth $1,298,000 after purchasing an additional 16,158 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Stock Up 0.9%

Z opened at $81.16 on Friday. The firm has a market capitalization of $19.60 billion, a P/E ratio of -238.71, a price-to-earnings-growth ratio of 14.85 and a beta of 2.11. The stock’s 50 day moving average price is $71.56 and its two-hundred day moving average price is $72.21. Zillow Group, Inc. has a 12-month low of $41.67 and a 12-month high of $89.39.

Insider Transactions at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 7,959 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $549,011.82. Following the sale, the chief financial officer owned 97,481 shares of the company’s stock, valued at $6,724,239.38. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Bradley D. Owens sold 3,466 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.96, for a total value of $239,015.36. Following the completion of the sale, the general counsel directly owned 47,215 shares in the company, valued at $3,255,946.40. This trade represents a 6.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,093 shares of company stock worth $6,989,688. Insiders own 25.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on Z shares. Keefe, Bruyette & Woods dropped their target price on Zillow Group from $80.00 to $76.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their target price on Zillow Group from $93.00 to $79.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company raised Zillow Group to a “hold” rating in a research report on Monday, April 28th. William Blair initiated coverage on Zillow Group in a research report on Monday, April 21st. They issued a “market perform” rating on the stock. Finally, Wedbush reissued an “outperform” rating and set a $100.00 price objective on shares of Zillow Group in a report on Monday, May 5th. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and a consensus target price of $83.71.

About Zillow Group

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.