Freestone Capital Holdings LLC Reduces Position in Zillow Group, Inc. (NASDAQ:Z)

Freestone Capital Holdings LLC lessened its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 28.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,821 shares of the financial services provider’s stock after selling 1,534 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Zillow Group were worth $283,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of Z. FMR LLC raised its stake in shares of Zillow Group by 179.5% during the 3rd quarter. FMR LLC now owns 5,095,336 shares of the financial services provider’s stock valued at $325,337,000 after purchasing an additional 3,272,118 shares during the period. Ninety One UK Ltd grew its holdings in Zillow Group by 3.2% during the 4th quarter. Ninety One UK Ltd now owns 3,617,761 shares of the financial services provider’s stock valued at $267,895,000 after buying an additional 111,231 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Zillow Group by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,538,709 shares of the financial services provider’s stock valued at $113,941,000 after buying an additional 11,727 shares during the period. Groupama Asset Managment purchased a new stake in shares of Zillow Group in the third quarter worth about $83,005,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Zillow Group in the third quarter valued at approximately $38,310,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $75.56 on Friday. The company has a market cap of $18.33 billion, a PE ratio of -160.77, a P/E/G ratio of 9.24 and a beta of 2.03. The stock’s 50-day moving average is $78.10 and its 200 day moving average is $71.17. Zillow Group, Inc. has a 1 year low of $38.45 and a 1 year high of $89.39.

Zillow Group (NASDAQ:Z) last announced its quarterly 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%. Analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Baird R W upgraded Zillow Group to a “hold” rating in a research report on Friday, January 31st. Morgan Stanley upped their target price on Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zillow Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Zillow Group in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Insider Transactions at Zillow Group

In related news, COO Jun Choo sold 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the sale, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jeremy Hofmann sold 1,612 shares of the 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 transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at $8,443,782.76. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,065 shares of company stock worth $7,660,165 over the last quarter. 23.76% of the stock is currently owned by insiders.

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.