Iridian Asset Management LLC CT Sells 22,353 Shares of Zillow Group, Inc. (NASDAQ:Z)

Iridian Asset Management LLC CT lowered its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 78.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,286 shares of the financial services provider’s stock after selling 22,353 shares during the period. Iridian Asset Management LLC CT’s holdings in Zillow Group were worth $401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Zillow Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 21,313,573 shares of the financial services provider’s stock valued at $1,039,676,000 after purchasing an additional 176,449 shares during the last quarter. Capital World Investors raised its position in Zillow Group by 2.8% during the 1st quarter. Capital World Investors now owns 8,846,232 shares of the financial services provider’s stock valued at $431,519,000 after purchasing an additional 238,554 shares during the last quarter. Dorsal Capital Management LP raised its position in Zillow Group by 59.8% during the 2nd quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider’s stock valued at $143,809,000 after purchasing an additional 1,160,000 shares during the last quarter. Greencape Capital Pty Ltd raised its position in Zillow Group by 93.0% during the 1st quarter. Greencape Capital Pty Ltd now owns 1,632,790 shares of the financial services provider’s stock valued at $79,647,000 after purchasing an additional 786,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Zillow Group by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,423,257 shares of the financial services provider’s stock valued at $66,032,000 after purchasing an additional 139,489 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Z has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley upped their target price on Zillow Group from $46.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Finally, Cantor Fitzgerald upgraded Zillow Group to a “hold” rating in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

Zillow Group Stock Performance

Zillow Group stock opened at $59.68 on Thursday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $14.10 billion, a P/E ratio of -86.49 and a beta of 1.95. The stock’s 50 day moving average is $60.35 and its 200 day moving average is $50.92. Zillow Group, Inc. has a twelve month low of $33.80 and a twelve month high of $68.73.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.13. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate of $539.74 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. On average, equities research analysts predict that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Thielke Claire Cormier sold 2,826 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.11, for a total value of $172,696.86. Following the transaction, the director now directly owns 2,826 shares of the company’s stock, valued at approximately $172,696.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Bradley D. Owens sold 752 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total value of $39,953.76. Following the transaction, the general counsel now directly owns 35,259 shares of the company’s stock, valued at approximately $1,873,310.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thielke Claire Cormier sold 2,826 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $61.11, for a total value of $172,696.86. Following the transaction, the director now directly owns 2,826 shares in the company, valued at $172,696.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,999 shares of company stock worth $11,780,363 in the last 90 days. Insiders own 23.76% of the company’s stock.

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.