Fayez Sarofim & Co Reduces Stock Holdings in Zillow Group, Inc. (NASDAQ:Z)

Fayez Sarofim & Co lowered its holdings in Zillow Group, Inc. (NASDAQ:Z) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 698,303 shares of the financial services provider’s stock after selling 28,005 shares during the quarter. Fayez Sarofim & Co’s holdings in Zillow Group were worth $51,709,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of Z. Synovus Financial Corp acquired a new stake in Zillow Group in the third quarter valued at approximately $311,000. Everence Capital Management Inc. purchased a new position in Zillow Group during the 4th quarter worth approximately $427,000. Nordea Investment Management AB boosted its stake in Zillow Group by 10.4% during the 4th quarter. Nordea Investment Management AB now owns 11,833 shares of the financial services provider’s stock worth $887,000 after purchasing an additional 1,112 shares during the period. Friedenthal Financial acquired a new stake in Zillow Group during the 4th quarter worth approximately $754,000. Finally, Rosenberg Matthew Hamilton grew its position in Zillow Group by 17.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 1,617 shares of the financial services provider’s stock valued at $120,000 after buying an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Baird R W raised shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. Morgan Stanley raised their price target on 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 reissued a “hold” rating on shares of Zillow Group in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $100.00 price objective on shares of Zillow Group in a research note on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods started coverage on shares of Zillow Group in a report on Friday, March 28th. They set a “market perform” rating and a $80.00 target price for the company. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.71.

Zillow Group Stock Performance

Shares of Z opened at $62.57 on Monday. Zillow Group, Inc. has a one year low of $38.45 and a one year high of $89.39. The company has a market capitalization of $15.18 billion, a P/E ratio of -133.13, a P/E/G ratio of 9.24 and a beta of 2.19. The stock has a 50-day moving average price of $71.07 and a 200 day moving average price of $73.19.

Zillow Group (NASDAQ:Z) last issued its earnings results 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 return on equity of 2.12% and a negative net margin of 5.01%. As a group, equities research analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, COO Jun Choo sold 1,277 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $99,248.44. Following the transaction, the chief operating officer now directly owns 86,853 shares in the company, valued at $6,750,215.16. This trade represents a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Hofmann sold 23,388 shares of Zillow Group stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the completion of the transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. This represents a 19.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,919 shares of company stock valued at $7,869,478 over the last three months. Company insiders own 23.76% of the company’s stock.

Zillow Group Company 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.