Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in Zillow Group, Inc. (NASDAQ:Z)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 45.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 17,699 shares of the financial services provider’s stock after purchasing an additional 5,563 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zillow Group were worth $1,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ERn Financial LLC grew its position in Zillow Group by 7.2% in the 1st quarter. ERn Financial LLC now owns 10,195 shares of the financial services provider’s stock worth $497,000 after purchasing an additional 682 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Zillow Group by 30.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 669,892 shares of the financial services provider’s stock worth $32,677,000 after purchasing an additional 156,249 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Zillow Group by 34.3% during the 1st quarter. Principal Financial Group Inc. now owns 13,063 shares of the financial services provider’s stock valued at $637,000 after purchasing an additional 3,339 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Zillow Group by 0.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 86,527 shares of the financial services provider’s stock worth $4,221,000 after purchasing an additional 403 shares during the period. Finally, Concord Wealth Partners purchased a new position in shares of Zillow Group in the first quarter worth approximately $26,000. Institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Down 3.6 %

NASDAQ Z opened at $60.67 on Wednesday. The stock has a 50 day moving average price of $59.82 and a 200-day moving average price of $50.45. Zillow Group, Inc. has a one year low of $33.80 and a one year high of $68.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The company has a market capitalization of $14.33 billion, a P/E ratio of -87.93 and a beta of 1.95.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data 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 net margin of 6.81% and a negative return on equity of 2.50%. The business had revenue of $572.00 million during the quarter, compared to analyst estimates of $539.74 million. As a group, equities analysts predict that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on Z shares. Bank of America increased their price target on shares of Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley lifted their target price on Zillow Group from $46.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Jefferies Financial Group raised their target price on shares of Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Cantor Fitzgerald raised shares of Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total value of $159,061.38. Following the completion of the sale, the insider now owns 70,342 shares of the company’s stock, valued at $3,740,787.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Susan Daimler sold 3,484 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total transaction of $188,763.12. Following the completion of the sale, the insider now directly owns 22,464 shares of the company’s stock, valued at approximately $1,217,099.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the completion of the transaction, the insider now directly owns 70,342 shares in the company, valued at $3,740,787.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,999 shares of company stock worth $11,780,363 over the last quarter. Insiders own 23.76% of the company’s stock.

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.