Bank of New York Mellon Corp Reduces Position in Zillow Group, Inc. (NASDAQ:Z)

Bank of New York Mellon Corp lessened its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 790,924 shares of the financial services provider’s stock after selling 16,817 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.34% of Zillow Group worth $58,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Private Advisor Group LLC purchased a new position in shares of Zillow Group during the 3rd quarter valued at $204,000. First Trust Direct Indexing L.P. purchased a new position in shares of Zillow Group during the 3rd quarter valued at $215,000. Gladstone Institutional Advisory LLC purchased a new position in shares of Zillow Group during the 3rd quarter valued at $213,000. Forum Financial Management LP purchased a new position in shares of Zillow Group during the 3rd quarter valued at $261,000. Finally, Entropy Technologies LP purchased a new position in shares of Zillow Group during the 3rd quarter valued at $1,370,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Transactions at Zillow Group

In other news, COO Jun Choo sold 1,277 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the sale, the chief operating officer now owns 86,853 shares of the company’s stock, valued at approximately $6,750,215.16. This represents a 1.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO David A. Beitel sold 2,025 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.75, for a total transaction of $157,443.75. Following the sale, the chief technology officer now directly owns 151,046 shares of the company’s stock, valued at $11,743,826.50. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,098 shares of company stock valued at $7,911,237. Company insiders own 23.76% of the company’s stock.

Zillow Group Trading Up 0.2 %

Shares of NASDAQ:Z opened at $74.43 on Wednesday. The company has a market capitalization of $18.05 billion, a price-to-earnings ratio of -158.36, a PEG ratio of 9.24 and a beta of 2.03. Zillow Group, Inc. has a 12 month low of $38.45 and a 12 month high of $89.39. The firm’s 50-day moving average is $78.22 and its 200 day moving average is $70.96.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on Z. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. 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 report on Monday, January 13th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 12th. KeyCorp upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, February 2nd. Finally, Baird R W upgraded shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. Five research 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 company. According to data from MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and an average target price of $82.00.

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.