ARK Investment Management LLC Sells 2,304 Shares of Zillow Group, Inc. (NASDAQ:Z)

ARK Investment Management LLC decreased its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,130 shares of the financial services provider’s stock after selling 2,304 shares during the quarter. ARK Investment Management LLC owned approximately 0.06% of Zillow Group worth $11,117,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Zillow Group by 66.3% during the 3rd quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after buying an additional 313 shares in the last quarter. Brooklyn Investment Group purchased a new position in Zillow Group during the 3rd quarter valued at about $74,000. Mirae Asset Global Investments Co. Ltd. increased its position in Zillow Group by 86.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,250 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 579 shares during the period. Rosenberg Matthew Hamilton increased its position in Zillow Group by 17.9% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,617 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 245 shares during the period. Finally, Northwest & Ethical Investments L.P. purchased a new position in Zillow Group during the 3rd quarter valued at about $128,000. Institutional investors own 71.01% of the company’s stock.

Insider Activity at Zillow Group

In other news, CTO David A. Beitel sold 2,025 shares of Zillow Group stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.75, for a total value of $157,443.75. Following the sale, the chief technology officer now owns 151,046 shares in the company, valued at $11,743,826.50. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dan Spaulding sold 4,565 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $86.22, for a total value of $393,594.30. Following the sale, the insider now owns 58,217 shares of the company’s stock, valued at approximately $5,019,469.74. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,663 shares of company stock worth $4,004,931 in the last three months. Company insiders own 23.76% of the company’s stock.

Zillow Group Trading Up 2.9 %

Shares of NASDAQ Z opened at $77.34 on Wednesday. Zillow Group, Inc. has a 12 month low of $38.45 and a 12 month high of $89.39. The company has a 50 day simple moving average of $78.19 and a two-hundred day simple moving average of $70.29. The stock has a market cap of $18.76 billion, a price-to-earnings ratio of -164.55, a PEG ratio of 9.24 and a beta of 2.03.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) EPS 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%. Analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on Z. Deutsche Bank Aktiengesellschaft raised their target price on shares of Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. KeyCorp raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Baird R W raised shares of Zillow Group to a “hold” rating in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

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.