State of New Jersey Common Pension Fund D Sells 28,352 Shares of Zillow Group, Inc. (NASDAQ:Z)

State of New Jersey Common Pension Fund D decreased its stake in Zillow Group, Inc. (NASDAQ:Z) by 32.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,220 shares of the financial services provider’s stock after selling 28,352 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Zillow Group were worth $2,747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Concord Wealth Partners bought a new stake in Zillow Group in the 1st quarter worth approximately $26,000. Larson Financial Group LLC boosted its stake 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 valued at $28,000 after purchasing an additional 481 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Zillow Group in the 1st quarter valued at $37,000. Principal Securities Inc. bought a new position in shares of Zillow Group during the 4th quarter valued at $53,000. Finally, Mather Group LLC. purchased a new position in Zillow Group in the 1st quarter worth $62,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Up 3.7 %

Z stock opened at $65.11 on Thursday. Zillow Group, Inc. has a twelve month low of $33.80 and a twelve month high of $67.60. The firm has a market cap of $15.07 billion, a PE ratio of -94.36 and a beta of 1.94. The business has a 50 day moving average of $52.77 and a 200 day moving average of $48.37. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.13. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The business had revenue of $572.00 million for the quarter, compared to the consensus estimate of $539.74 million. On average, research analysts forecast that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Insider Activity at Zillow Group

In other news, Chairman Lloyd D. Frink sold 150,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the sale, the chairman now owns 582 shares of the company’s stock, valued at approximately $29,583.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now directly owns 582 shares in the company, valued at $29,583.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thielke Claire Cormier sold 2,826 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $61.11, for a total transaction of $172,696.86. Following the sale, the director now owns 2,826 shares in the company, valued at $172,696.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,374 shares of company stock worth $10,393,745. 23.76% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on Z. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $50.00 to $80.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a report on Thursday, August 8th. Cantor Fitzgerald raised Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Finally, Craig Hallum raised Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Three 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 company. According to data from MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and a consensus target price of $63.20.

Zillow Group 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.