Zillow Group, Inc. (NASDAQ:Z) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its position in Zillow Group, Inc. (NASDAQ:Z) by 40.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,830 shares of the financial services provider’s stock after selling 2,565 shares during the quarter. M&T Bank Corp’s holdings in Zillow Group were worth $263,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Caxton Associates LP purchased a new stake in Zillow Group in the fourth quarter valued at $51,835,000. Castle Hook Partners LP acquired a new stake in shares of Zillow Group in the fourth quarter valued at $49,887,000. Polar Capital Holdings Plc acquired a new stake in shares of Zillow Group in the fourth quarter valued at $33,504,000. Altimeter Capital Management LP grew its stake in Zillow Group by 52.0% during the 4th quarter. Altimeter Capital Management LP now owns 1,300,738 shares of the financial services provider’s stock worth $96,320,000 after purchasing an additional 445,158 shares in the last quarter. Finally, Ninety One UK Ltd grew its stake in Zillow Group by 11.4% during the 1st quarter. Ninety One UK Ltd now owns 4,029,503 shares of the financial services provider’s stock worth $276,263,000 after purchasing an additional 411,742 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $77.60 on Friday. The firm has a 50 day simple moving average of $70.32 and a 200 day simple moving average of $71.98. Zillow Group, Inc. has a fifty-two week low of $41.67 and a fifty-two week high of $89.39. The firm has a market cap of $18.74 billion, a P/E ratio of -228.24, a P/E/G ratio of 14.21 and a beta of 2.11.

Insiders Place Their Bets

In related news, Director Erik C. Blachford sold 965 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.35, for a total value of $67,887.75. Following the completion of the transaction, the director owned 35,474 shares of the company’s stock, valued at $2,495,595.90. This represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dan Spaulding sold 5,534 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $381,735.32. Following the completion of the transaction, the insider directly owned 68,889 shares of the company’s stock, valued at approximately $4,751,963.22. The trade was a 7.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,093 shares of company stock worth $6,989,688 in the last ninety days. 25.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Z has been the subject of several research reports. Wells Fargo & Company raised Zillow Group to a “hold” rating in a report on Monday, April 28th. JPMorgan Chase & Co. dropped their target price on Zillow Group from $93.00 to $79.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. William Blair assumed coverage on Zillow Group in a report on Monday, April 21st. They issued a “market perform” rating on the stock. Wedbush restated an “outperform” rating and issued a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. Finally, Keefe, Bruyette & Woods lowered their target price on Zillow Group from $80.00 to $76.00 and set a “market perform” rating on the stock in a report on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.71.

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.