Nikko Asset Management Americas Inc. Trims Stock Holdings in Zillow Group, Inc. (NASDAQ:Z)

Nikko Asset Management Americas Inc. lowered its position in Zillow Group, Inc. (NASDAQ:Z) by 14.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 232,225 shares of the financial services provider’s stock after selling 40,614 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 0.10% of Zillow Group worth $17,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in Zillow Group by 1.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,532 shares of the financial services provider’s stock valued at $706,000 after buying an additional 116 shares during the last quarter. Independent Advisor Alliance raised its stake in shares of Zillow Group by 3.4% during the fourth quarter. Independent Advisor Alliance now owns 3,620 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 120 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Zillow Group by 17.5% during the fourth quarter. Blue Trust Inc. now owns 922 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 137 shares during the last quarter. Savant Capital LLC raised its stake in shares of Zillow Group by 2.7% during the fourth quarter. Savant Capital LLC now owns 6,794 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 179 shares during the last quarter. Finally, True Vision MN LLC raised its stake in shares of Zillow Group by 2.6% during the fourth quarter. True Vision MN LLC now owns 7,423 shares of the financial services provider’s stock worth $550,000 after purchasing an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Performance

Zillow Group stock opened at $70.58 on Monday. The firm has a market capitalization of $17.12 billion, a price-to-earnings ratio of -150.17, a price-to-earnings-growth ratio of 9.24 and a beta of 2.27. Zillow Group, Inc. has a fifty-two week low of $38.45 and a fifty-two week high of $89.39. The stock’s fifty day moving average is $77.74 and its two-hundred day moving average is $72.05.

Zillow Group (NASDAQ:Z) last posted its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share 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, sell-side analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Z has been the subject of several analyst reports. Morgan Stanley upped their price target 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. Wedbush restated an “outperform” rating and set a $100.00 price target on shares of Zillow Group in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upped their price target on Zillow Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Baird R W raised Zillow Group to a “hold” rating in a report on Friday, January 31st. Finally, KeyCorp raised Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, February 2nd. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Insider Buying and Selling at Zillow Group

In related news, COO Jun Choo sold 55,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the sale, the chief operating officer now owns 86,853 shares of the company’s stock, valued at $6,790,167.54. This trade represents a 38.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer Rock sold 5,796 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total value of $437,598.00. Following the sale, the chief accounting officer now directly owns 51,370 shares in the company, valued at approximately $3,878,435. The trade was a 10.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,065 shares of company stock valued at $7,660,165. Insiders own 23.76% of the company’s stock.

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.