New York State Common Retirement Fund Trims Stake in Zillow Group, Inc. (NASDAQ:Z)

New York State Common Retirement Fund trimmed its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,914 shares of the financial services provider’s stock after selling 5,600 shares during the quarter. New York State Common Retirement Fund’s holdings in Zillow Group were worth $5,685,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Caxton Associates LP acquired a new stake in Zillow Group in the 4th quarter valued at about $51,835,000. Castle Hook Partners LP purchased a new position in Zillow Group during the fourth quarter worth approximately $49,887,000. Polar Capital Holdings Plc acquired a new position in Zillow Group during the fourth quarter worth $33,504,000. Altimeter Capital Management LP grew its holdings in Zillow Group by 52.0% in the 4th quarter. Altimeter Capital Management LP now owns 1,300,738 shares of the financial services provider’s stock valued at $96,320,000 after buying an additional 445,158 shares in the last quarter. Finally, Ninety One UK Ltd increased its stake in shares of Zillow Group by 11.4% in 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 acquiring an additional 411,742 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Price Performance

NASDAQ:Z opened at $77.46 on Monday. The firm has a market capitalization of $18.70 billion, a P/E ratio of -227.82, a PEG ratio of 14.31 and a beta of 2.11. Zillow Group, Inc. has a one year low of $41.67 and a one year high of $89.39. The company’s 50-day simple moving average is $70.51 and its 200 day simple moving average is $71.98.

Insiders Place Their Bets

In other 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 sale, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Bradley D. Owens sold 3,466 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.96, for a total transaction of $239,015.36. Following the sale, the general counsel owned 47,215 shares in the company, valued at $3,255,946.40. This trade represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,093 shares of company stock worth $6,989,688. 23.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on Z shares. Wells Fargo & Company raised shares of Zillow Group to a “hold” rating in a research report on Monday, April 28th. Keefe, Bruyette & Woods cut their price target on shares of Zillow Group from $80.00 to $76.00 and set a “market perform” rating for the company in a report on Wednesday, May 7th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Zillow Group in a research note on Monday, May 5th. JPMorgan Chase & Co. lowered their price target on shares of Zillow Group from $93.00 to $79.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Finally, William Blair began coverage on shares of Zillow Group in a research report on Monday, April 21st. They issued a “market perform” rating for the company. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.71.

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.