ARK Investment Management LLC Reduces Stock Holdings in Zillow Group, Inc. (NASDAQ:Z)

ARK Investment Management LLC cut its position in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 9.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,434 shares of the financial services provider's stock after selling 15,347 shares during the period. ARK Investment Management LLC owned about 0.06% of Zillow Group worth $9,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Zillow Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 21,313,573 shares of the financial services provider's stock valued at $1,039,676,000 after acquiring an additional 176,449 shares in the last quarter. Capital World Investors lifted its position in Zillow Group by 2.8% during the first quarter. Capital World Investors now owns 8,846,232 shares of the financial services provider's stock valued at $431,519,000 after purchasing an additional 238,554 shares during the last quarter. Dorsal Capital Management LP lifted its position in Zillow Group by 59.8% during the second quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider's stock valued at $143,809,000 after purchasing an additional 1,160,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Zillow Group by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,423,257 shares of the financial services provider's stock valued at $66,032,000 after purchasing an additional 139,489 shares during the last quarter. Finally, Coronation Fund Managers Ltd. lifted its position in Zillow Group by 238.9% during the second quarter. Coronation Fund Managers Ltd. now owns 864,733 shares of the financial services provider's stock valued at $40,115,000 after purchasing an additional 609,575 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zillow Group

In related news, General Counsel Bradley D. Owens sold 752 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total value of $39,953.76. Following the completion of the transaction, the general counsel now directly owns 35,259 shares in the company, valued at $1,873,310.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, General Counsel Bradley D. Owens sold 752 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total value of $39,953.76. Following the completion of the sale, the general counsel now owns 35,259 shares of the company's stock, valued at approximately $1,873,310.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeremy Wacksman sold 4,480 shares of the business's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $52.83, for a total transaction of $236,678.40. Following the completion of the sale, the chief executive officer now directly owns 174,439 shares of the company's stock, valued at approximately $9,215,612.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,596 shares of company stock worth $3,938,581. Company insiders own 23.76% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wedbush upgraded shares of Zillow Group from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Needham & Company LLC restated a "hold" rating on shares of Zillow Group in a report on Thursday. UBS Group upgraded shares of Zillow Group to a "strong-buy" rating in a report on Thursday, August 8th. Morgan Stanley raised their target price on shares of Zillow Group from $46.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 2nd. Finally, Bank of America lifted their price objective on shares of Zillow Group from $54.00 to $71.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.33.

Zillow Group Stock Performance

NASDAQ:Z traded up $1.26 during trading hours on Friday, hitting $73.89. 4,982,635 shares of the company were exchanged, compared to its average volume of 3,783,887. The stock has a market capitalization of $17.10 billion, a price-to-earnings ratio of -127.42 and a beta of 1.95. Zillow Group, Inc. has a 52-week low of $35.44 and a 52-week high of $74.55. 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 company's 50 day moving average price is $61.20 and its 200-day moving average price is $51.75.

Zillow Group (NASDAQ:Z - Get Free Report) last released its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.13. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate of $539.74 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.34%. As a group, research analysts forecast that Zillow Group, Inc. will post -0.33 earnings per share for the current year.

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.