Principal Financial Group Inc. Sells 1,435 Shares of Zillow Group, Inc. (NASDAQ:Z)

Principal Financial Group Inc. lowered its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,365 shares of the financial services provider’s stock after selling 1,435 shares during the period. Principal Financial Group Inc.’s holdings in Zillow Group were worth $662,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. abrdn plc boosted its holdings in Zillow Group by 98.0% in the 3rd quarter. abrdn plc now owns 48,990 shares of the financial services provider’s stock valued at $3,128,000 after purchasing an additional 24,247 shares during the period. Prudential PLC acquired a new stake in Zillow Group during the second quarter worth approximately $474,000. DekaBank Deutsche Girozentrale raised its holdings in Zillow Group by 41.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 34,824 shares of the financial services provider’s stock valued at $1,627,000 after acquiring an additional 10,260 shares in the last quarter. Hillman Co. bought a new stake in shares of Zillow Group during the 3rd quarter valued at $11,825,000. Finally, Arkadios Wealth Advisors grew its holdings in shares of Zillow Group by 13.7% during the 2nd quarter. Arkadios Wealth Advisors now owns 41,232 shares of the financial services provider’s stock worth $1,913,000 after purchasing an additional 4,984 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. The trade was a 78.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Daimler sold 3,484 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 22,464 shares of the company’s stock, valued at $1,217,099.52. This represents a 13.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,419 shares of company stock valued at $11,371,413 over the last quarter. 23.76% of the stock is owned by company insiders.

Zillow Group Price Performance

Shares of Z opened at $83.77 on Friday. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The stock has a market cap of $19.57 billion, a PE ratio of -146.96 and a beta of 1.95. Zillow Group, Inc. has a 12-month low of $38.45 and a 12-month high of $84.75. The business has a 50-day simple moving average of $65.81 and a two-hundred day simple moving average of $54.33.

Analysts Set New Price Targets

A number of research analysts recently commented on Z shares. Bank of America boosted their price target on Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Cantor Fitzgerald upgraded shares of Zillow Group to a “hold” rating in a research report on Thursday, September 5th. Morgan Stanley boosted their price objective on shares of Zillow Group from $46.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $50.00 to $80.00 in a research note on Monday, September 16th. Finally, Craig Hallum upgraded Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

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.