Principal Financial Group Inc. Lowers Holdings in Zillow Group, Inc. (NASDAQ:Z)

Principal Financial Group Inc. lowered its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,365 shares of the financial services provider’s stock after selling 1,435 shares during the quarter. Principal Financial Group Inc.’s holdings in Zillow Group were worth $662,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Zillow Group by 2.4% during the third quarter. Brighton Jones LLC now owns 6,953 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 166 shares during the period. Arkadios Wealth Advisors raised its holdings in Zillow Group by 0.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 41,430 shares of the financial services provider’s stock valued at $2,645,000 after buying an additional 198 shares during the period. Doliver Advisors LP raised its holdings in Zillow Group by 3.3% during the 3rd quarter. Doliver Advisors LP now owns 9,681 shares of the financial services provider’s stock valued at $618,000 after buying an additional 310 shares during the period. Blue Trust Inc. lifted its position in Zillow Group by 66.3% in the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock worth $50,000 after buying an additional 313 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in 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 worth $388,000 after buying an additional 318 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Thursday, November 7th. Bank of America boosted their target price on Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Morgan Stanley raised their price target on Zillow Group from $46.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upped their price objective on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.33.

Zillow Group Price Performance

NASDAQ:Z opened at $74.64 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. The company has a 50 day moving average price of $75.60 and a 200-day moving average price of $62.17. Zillow Group, Inc. has a 1-year low of $38.45 and a 1-year high of $86.88. The firm has a market cap of $17.43 billion, a price-to-earnings ratio of -130.95 and a beta of 2.02.

Insider Transactions at Zillow Group

In other Zillow Group news, CTO David A. Beitel sold 56,750 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the transaction, the chief technology officer now owns 92 shares of the company’s stock, valued at approximately $6,659.88. The trade was a 99.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Bradley D. Owens sold 1,212 shares of Zillow Group stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total transaction of $89,663.76. Following the transaction, the general counsel now directly owns 31,739 shares in the company, valued at $2,348,051.22. This trade represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,689 shares of company stock valued at $10,395,879 in the last three months. 23.76% of the stock is currently owned by company insiders.

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.