Zillow Group, Inc. $Z Holdings Trimmed by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 91.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 31,548 shares of the financial services provider’s stock after selling 317,081 shares during the period. Assenagon Asset Management S.A.’s holdings in Zillow Group were worth $2,210,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. IFP Advisors Inc boosted its stake in Zillow Group by 288.9% during the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider’s stock valued at $31,000 after buying an additional 338 shares in the last quarter. National Pension Service boosted its stake in Zillow Group by 74.8% during the first quarter. National Pension Service now owns 577 shares of the financial services provider’s stock valued at $40,000 after buying an additional 247 shares in the last quarter. GAMMA Investing LLC boosted its stake in Zillow Group by 47.7% during the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider’s stock valued at $42,000 after buying an additional 196 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Zillow Group during the first quarter valued at about $49,000. Finally, Parallel Advisors LLC boosted its stake in Zillow Group by 141.8% during the first quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider’s stock valued at $115,000 after buying an additional 984 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on Z. Bank of America raised their target price on Zillow Group from $81.00 to $88.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on Zillow Group from $79.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, Sanford C. Bernstein upgraded Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price target for the company in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.38.

Zillow Group Stock Down 1.6%

NASDAQ:Z opened at $77.75 on Friday. Zillow Group, Inc. has a 1-year low of $57.00 and a 1-year high of $93.88. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of -299.04, a price-to-earnings-growth ratio of 22.00 and a beta of 2.04. The stock has a fifty day simple moving average of $83.50 and a 200 day simple moving average of $73.86.

Insiders Place Their Bets

In related news, insider Dan Spaulding sold 100,000 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $85.91, for a total value of $8,591,000.00. Following the completion of the sale, the insider directly owned 68,889 shares of the company’s stock, valued at approximately $5,918,253.99. This represents a 59.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 25,000 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $89.99, for a total value of $2,249,750.00. Following the completion of the sale, the chief financial officer directly owned 84,146 shares of the company’s stock, valued at approximately $7,572,298.54. This represents a 22.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 657,087 shares of company stock worth $56,286,479 over the last three months. Company insiders own 25.03% 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.