Invesco Ltd. Sells 3,216,381 Shares of Zillow Group, Inc. (NASDAQ:Z)

Invesco Ltd. trimmed its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 91.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 292,789 shares of the financial services provider's stock after selling 3,216,381 shares during the period. Invesco Ltd. owned about 0.13% of Zillow Group worth $21,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Polymer Capital Management US LLC bought a new stake in shares of Zillow Group during the fourth quarter worth $219,000. Cerity Partners LLC increased its holdings in Zillow Group by 63.4% during the 4th quarter. Cerity Partners LLC now owns 12,260 shares of the financial services provider's stock worth $885,000 after purchasing an additional 4,756 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Zillow Group by 4.7% in the 4th quarter. Russell Investments Group Ltd. now owns 21,014 shares of the financial services provider's stock valued at $1,556,000 after purchasing an additional 948 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Zillow Group by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 56,318 shares of the financial services provider's stock valued at $4,170,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Zillow Group during the fourth quarter worth about $3,300,000. 71.01% of the stock is currently owned by institutional investors.

Zillow Group Stock Performance

Shares of NASDAQ Z traded up $1.15 during mid-day trading on Thursday, reaching $65.43. The company had a trading volume of 243,330 shares, compared to its average volume of 3,343,715. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of -139.31, a PEG ratio of 9.24 and a beta of 2.19. The business's 50-day simple moving average is $70.08 and its 200 day simple moving average is $73.04. Zillow Group, Inc. has a one year low of $38.45 and a one year high of $89.39.

Zillow Group (NASDAQ:Z - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (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%. On average, sell-side analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other Zillow Group news, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the sale, the chief financial officer now directly owns 99,362 shares of the company's stock, valued at approximately $8,443,782.76. The trade was a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Errol G. Samuelson sold 2,854 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total transaction of $209,312.36. Following the transaction, the insider now directly owns 142,636 shares in the company, valued at $10,460,924.24. This trade represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,919 shares of company stock worth $7,869,478. 23.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Z has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods began coverage on Zillow Group in a report on Friday, March 28th. They set a "market perform" rating and a $80.00 target price on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Zillow Group in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased 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. Finally, William Blair started coverage on shares of Zillow Group in a report on Monday. They set a "market perform" rating on the stock. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $81.71.

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.