Sumitomo Mitsui Trust Holdings Inc. Sells 56,962 Shares of Zillow Group, Inc. (NASDAQ:Z)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Zillow Group, Inc. (NASDAQ:Z) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 612,930 shares of the financial services provider’s stock after selling 56,962 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of Zillow Group worth $28,434,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Zillow Group by 14.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,842 shares of the financial services provider’s stock valued at $1,322,000 after buying an additional 2,800 shares during the period. International Assets Investment Management LLC bought a new position in Zillow Group during the fourth quarter valued at $9,983,000. Cerity Partners LLC raised its stake in shares of Zillow Group by 30.3% in the fourth quarter. Cerity Partners LLC now owns 6,504 shares of the financial services provider’s stock valued at $376,000 after acquiring an additional 1,514 shares during the period. abrdn plc lifted its holdings in shares of Zillow Group by 101.8% in the 4th quarter. abrdn plc now owns 53,188 shares of the financial services provider’s stock worth $3,077,000 after acquiring an additional 26,833 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Zillow Group by 26.2% during the 4th quarter. Handelsbanken Fonder AB now owns 38,100 shares of the financial services provider’s stock worth $2,204,000 after purchasing an additional 7,900 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on Z shares. UBS Group upgraded shares of Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price target on 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 restated a “hold” rating on shares of Zillow Group in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered their target price on Zillow Group from $65.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.20.

Zillow Group Stock Performance

Shares of Z stock opened at $55.60 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The business has a fifty day moving average of $48.54 and a 200 day moving average of $48.15. The firm has a market capitalization of $12.87 billion, a price-to-earnings ratio of -80.58 and a beta of 1.98. Zillow Group, Inc. has a 1 year low of $33.80 and a 1 year high of $61.13.

Insider Activity

In related news, Director Jay C. Hoag bought 1,000,000 shares of the stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $42.27 per share, for a total transaction of $42,270,000.00. Following the completion of the purchase, the director now directly owns 652,520 shares of the company’s stock, valued at $27,582,020.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Jeremy Hofmann sold 8,562 shares of Zillow Group stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $39.05, for a total value of $334,346.10. Following the completion of the transaction, the chief financial officer now owns 123,123 shares in the company, valued at approximately $4,807,953.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag acquired 1,000,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was acquired at an average cost of $42.27 per share, for a total transaction of $42,270,000.00. Following the completion of the acquisition, the director now owns 652,520 shares of the company’s stock, valued at approximately $27,582,020.40. The disclosure for this purchase can be found here. Insiders have sold 197,315 shares of company stock valued at $9,964,360 in the last ninety days. 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.