Prudential PLC Sells 33,916 Shares of Zillow Group, Inc. $Z

Prudential PLC decreased its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 51.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,247 shares of the financial services provider’s stock after selling 33,916 shares during the quarter. Prudential PLC’s holdings in Zillow Group were worth $2,200,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Jain Global LLC bought a new position in Zillow Group in the third quarter worth about $6,220,000. Coronation Fund Managers Ltd. bought a new stake in shares of Zillow Group in the 3rd quarter valued at about $18,141,000. Vanguard Group Inc. boosted its holdings in shares of Zillow Group by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock valued at $1,777,841,000 after buying an additional 71,336 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Zillow Group by 228.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 470,288 shares of the financial services provider’s stock worth $32,083,000 after buying an additional 327,076 shares during the last quarter. Finally, Hidden Lake Asset Management LP purchased a new position in shares of Zillow Group in the 3rd quarter worth approximately $4,127,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling at Zillow Group

In related news, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $37.97, for a total value of $111,593.83. Following the completion of the transaction, the insider owned 134,039 shares in the company, valued at $5,089,460.83. This trade represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,072 shares of Zillow Group stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $36.54, for a total value of $331,490.88. Following the sale, the chief executive officer directly owned 153,699 shares of the company’s stock, valued at approximately $5,616,161.46. This represents a 5.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 42,119 shares of company stock valued at $1,578,206. Company insiders own 25.03% of the company’s stock.

Analyst Upgrades and Downgrades

Z has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Wall Street Zen raised Zillow Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Finally, UBS Group lowered their price objective on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Zillow Group Price Performance

Z opened at $35.06 on Monday. The company has a market cap of $8.02 billion, a P/E ratio of 140.24, a price-to-earnings-growth ratio of 1.50 and a beta of 1.97. The firm’s 50-day moving average price is $40.42 and its 200-day moving average price is $53.27. Zillow Group, Inc. has a 52-week low of $34.37 and a 52-week high of $93.88.

Zillow Group (NASDAQ:Z) last released its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.10 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. On average, research analysts anticipate that Zillow Group, Inc. will post 0.9 EPS for the current fiscal year.

About Zillow Group

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.