Independent Franchise Partners LLP Sells 691,634 Shares of Zillow Group, Inc. (NASDAQ:Z)

Independent Franchise Partners LLP decreased its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 5.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,022,250 shares of the financial services provider’s stock after selling 691,634 shares during the period. Zillow Group accounts for about 5.1% of Independent Franchise Partners LLP’s portfolio, making the stock its 12th biggest position. Independent Franchise Partners LLP owned about 0.05% of Zillow Group worth $557,712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of Z. Symmetry Investments LP bought a new stake in Zillow Group in the second quarter valued at about $464,000. Canada Pension Plan Investment Board increased its stake in shares of Zillow Group by 28.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 191,200 shares of the financial services provider’s stock valued at $8,870,000 after acquiring an additional 42,300 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of Zillow Group by 89.3% in the 2nd quarter. Edgestream Partners L.P. now owns 18,359 shares of the financial services provider’s stock valued at $852,000 after acquiring an additional 8,660 shares during the period. Pekin Hardy Strauss Inc. bought a new position in Zillow Group during the 2nd quarter worth approximately $634,000. Finally, Dimensional Fund Advisors LP grew its holdings in Zillow Group by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,423,257 shares of the financial services provider’s stock valued at $66,032,000 after purchasing an additional 139,489 shares during the period. 71.01% of the stock is owned by institutional investors.

Insider Transactions at Zillow Group

In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the transaction, the chairman now owns 582 shares in the company, valued at $29,583.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,999 shares of company stock valued at $11,780,363. 23.76% of the stock is currently owned by corporate insiders.

Zillow Group Stock Down 1.1 %

Zillow Group stock opened at $67.09 on Friday. Zillow Group, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $68.73. The firm has a market capitalization of $15.85 billion, a PE ratio of -97.23 and a beta of 1.94. The company’s 50-day moving average is $53.47 and its 200-day moving average is $48.53. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on Z shares. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Craig Hallum upgraded Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald raised Zillow Group to a “hold” rating in a research report on Thursday, September 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.20.

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.