Geode Capital Management LLC Reduces Holdings in Zillow Group, Inc. (NASDAQ:Z)

Geode Capital Management LLC trimmed its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,849,396 shares of the financial services provider’s stock after selling 111,083 shares during the quarter. Geode Capital Management LLC owned approximately 1.23% of Zillow Group worth $181,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Larson Financial Group LLC raised its stake in Zillow Group by 364.4% in the second quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after buying an additional 481 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Zillow Group by 400.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 400 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Zillow Group in the 3rd quarter valued at approximately $35,000. Blue Trust Inc. boosted its position in shares of Zillow Group by 66.3% during the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 313 shares in the last quarter. Finally, Quarry LP purchased a new stake in Zillow Group in the second quarter worth $61,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on Z shares. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $50.00 to $80.00 in a report on Monday, September 16th. Cantor Fitzgerald upgraded shares of Zillow Group to a “hold” rating in a report on Thursday, September 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Thursday, November 7th. Bank of America boosted their price target on Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group raised their price objective on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

Insider Transactions at Zillow Group

In related news, General Counsel Bradley D. Owens sold 1,212 shares of Zillow Group stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total value of $89,663.76. Following the completion of the sale, the general counsel now owns 31,739 shares of the company’s stock, valued at $2,348,051.22. The trade was a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jennifer Rock sold 3,033 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $82.78, for a total value of $251,071.74. Following the sale, the chief accounting officer now owns 57,166 shares of the company’s stock, valued at approximately $4,732,201.48. This trade represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,314 shares of company stock worth $11,782,498 over the last quarter. 23.76% of the stock is currently owned by insiders.

Zillow Group Price Performance

Shares of NASDAQ Z opened at $79.93 on Monday. The company has a 50 day moving average of $71.22 and a 200 day moving average of $58.82. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. Zillow Group, Inc. has a twelve month low of $38.45 and a twelve month high of $86.88. The firm has a market cap of $18.67 billion, a P/E ratio of -140.23 and a beta of 2.01.

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.