Nikko Asset Management Americas Inc. Trims Stock Position in Zillow Group, Inc. (NASDAQ:Z)

Nikko Asset Management Americas Inc. cut its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 232,225 shares of the financial services provider’s stock after selling 40,614 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Zillow Group were worth $17,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Assetmark Inc. raised its holdings in shares of Zillow Group by 7,410.0% in the 4th quarter. Assetmark Inc. now owns 751 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 741 shares during the period. Blue Trust Inc. raised its holdings in shares of Zillow Group by 17.5% in the 4th quarter. Blue Trust Inc. now owns 922 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 137 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Zillow Group by 53.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 367 shares during the period. Brooklyn Investment Group purchased a new position in shares of Zillow Group in the 3rd quarter worth about $74,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Zillow Group by 86.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,250 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 579 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Z has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $100.00 target price on shares of Zillow Group in a research note on Wednesday, February 12th. KeyCorp upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Morgan Stanley increased their target price on Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their target price on Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Insider Transactions at Zillow Group

In other news, CAO Jennifer Rock sold 5,796 shares of Zillow Group stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total value of $437,598.00. Following the completion of the transaction, the chief accounting officer now owns 51,370 shares in the company, valued at approximately $3,878,435. This trade represents a 10.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Hofmann sold 23,388 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.98, for a total value of $1,987,512.24. Following the completion of the sale, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. This trade represents a 19.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,065 shares of company stock worth $7,660,165. 23.76% of the stock is currently owned by corporate insiders.

Zillow Group Stock Up 3.2 %

Shares of NASDAQ Z opened at $70.58 on Monday. Zillow Group, Inc. has a fifty-two week low of $38.45 and a fifty-two week high of $89.39. The business has a 50 day moving average price of $77.74 and a two-hundred day moving average price of $72.05. The firm has a market cap of $17.12 billion, a PE ratio of -150.17, a price-to-earnings-growth ratio of 9.24 and a beta of 2.27.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. On average, analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

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.