Fayez Sarofim & Co Trims Position in Zillow Group, Inc. (NASDAQ:Z)

Fayez Sarofim & Co reduced its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 3.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 698,303 shares of the financial services provider's stock after selling 28,005 shares during the quarter. Fayez Sarofim & Co owned approximately 0.30% of Zillow Group worth $51,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership increased its position in shares of Zillow Group by 1,337.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 397,211 shares of the financial services provider's stock worth $29,413,000 after purchasing an additional 369,580 shares during the last quarter. Mackay Shields LLC acquired a new position in Zillow Group during the fourth quarter worth $17,496,000. Norges Bank bought a new stake in Zillow Group during the fourth quarter worth $15,923,000. Bridgewater Associates LP lifted its stake in Zillow Group by 38.3% in the fourth quarter. Bridgewater Associates LP now owns 724,532 shares of the financial services provider's stock valued at $53,652,000 after acquiring an additional 200,760 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in shares of Zillow Group in the 4th quarter valued at about $14,665,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total transaction of $136,987.76. Following the transaction, the chief financial officer now owns 99,362 shares of the company's stock, valued at $8,443,782.76. This trade represents a 1.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer Rock sold 5,796 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total value of $437,598.00. Following the sale, the chief accounting officer now directly owns 51,370 shares of the company's stock, valued at $3,878,435. The trade was a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,919 shares of company stock valued at $7,869,478. 23.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wedbush reissued an "outperform" rating and issued a $100.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. Morgan Stanley lifted their price target on Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upped their price objective on Zillow Group from $90.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a report on Wednesday, February 12th. Finally, Baird R W upgraded shares of Zillow Group to a "hold" rating in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.71.

Zillow Group Stock Performance

Shares of Z stock traded up $1.55 during trading hours on Wednesday, hitting $64.28. 1,909,685 shares of the company were exchanged, compared to its average volume of 3,355,979. Zillow Group, Inc. has a fifty-two week low of $38.45 and a fifty-two week high of $89.39. The company has a 50 day simple moving average of $70.08 and a two-hundred day simple moving average of $73.04. The firm has a market cap of $15.59 billion, a P/E ratio of -136.77, a P/E/G ratio of 9.24 and a beta of 2.19.

Zillow Group (NASDAQ:Z - Get Free Report) last issued its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) EPS 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%. As a group, sell-side analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal 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.