Charles Schwab Investment Management Inc. Sells 31,779 Shares of Zillow Group, Inc. (NASDAQ:Z)

Charles Schwab Investment Management Inc. cut its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,526,982 shares of the financial services provider’s stock after selling 31,779 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Zillow Group were worth $97,498,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Zillow Group during the 3rd quarter worth about $234,000. IVY Lane Capital Management LLC raised its stake in Zillow Group by 35.0% during the 3rd quarter. IVY Lane Capital Management LLC now owns 135,000 shares of the financial services provider’s stock worth $8,620,000 after buying an additional 35,000 shares during the period. Swiss National Bank boosted its holdings in Zillow Group by 0.7% in the third quarter. Swiss National Bank now owns 466,834 shares of the financial services provider’s stock worth $29,807,000 after acquiring an additional 3,300 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in Zillow Group in the third quarter valued at approximately $6,267,000. Finally, CIBC Asset Management Inc increased its holdings in shares of Zillow Group by 5.5% during the third quarter. CIBC Asset Management Inc now owns 6,076 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 318 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Price Performance

Zillow Group stock opened at $84.85 on Wednesday. Zillow Group, Inc. has a 52 week low of $38.45 and a 52 week high of $86.37. The company’s 50 day moving average price is $66.24 and its two-hundred day moving average price is $54.79. The stock has a market cap of $19.82 billion, a P/E ratio of -148.86 and a beta of 1.95. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11.

Analyst Ratings Changes

Z has been the topic of a number of recent research reports. UBS Group upgraded Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Zillow Group to a “hold” rating in a report on Thursday, September 5th. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Morgan Stanley lifted their price target on Zillow Group from $46.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.33.

Insider Buying and Selling

In other news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction 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 $379,983.96. This represents a 78.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jun Choo sold 10,000 shares of Zillow Group stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $75.10, for a total transaction of $751,000.00. Following the completion of the sale, the chief operating officer now directly owns 88,130 shares in the company, valued at $6,618,563. This trade represents a 10.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,264 shares of company stock worth $10,964,365. 23.76% of the stock is owned by company insiders.

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.