Marshall Wace LLP Cuts Stock Position in Zillow Group, Inc. (NASDAQ:Z)

Marshall Wace LLP reduced its position in Zillow Group, Inc. (NASDAQ:Z) by 71.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 95,880 shares of the financial services provider’s stock after selling 240,678 shares during the quarter. Marshall Wace LLP’s holdings in Zillow Group were worth $4,448,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Concord Wealth Partners purchased a new stake in shares of Zillow Group in the first quarter valued at approximately $26,000. Larson Financial Group LLC boosted its position in shares of Zillow Group by 364.4% during the 2nd quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 481 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Zillow Group during the 1st quarter worth $37,000. Mather Group LLC. purchased a new position in shares of Zillow Group in the 1st quarter valued at about $62,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Zillow Group by 77.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,415 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 618 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Activity at Zillow Group

In other news, CAO Jennifer Rock sold 4,050 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the sale, the chief accounting officer now owns 79,694 shares in the company, valued at $3,923,335.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction dated 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 owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares in the company, valued at $3,923,335.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,999 shares of company stock valued at $11,780,363. Company insiders own 23.76% of the company’s stock.

Zillow Group Stock Up 1.3 %

Shares of NASDAQ:Z opened at $64.65 on Wednesday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $15.27 billion, a P/E ratio of -93.70 and a beta of 1.94. Zillow Group, Inc. has a 52-week low of $33.80 and a 52-week high of $68.73. The stock’s fifty day simple moving average is $55.12 and its 200-day simple moving average is $48.87.

Zillow Group (NASDAQ:Z) last released its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $572.00 million for the quarter, compared to analyst estimates of $539.74 million. As a group, equities research analysts forecast that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on Z shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald raised Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Thursday, August 8th. UBS Group upgraded Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.