Principal Financial Group Inc. Has $524,000 Stake in Zillow Group, Inc. (NASDAQ:Z)

Principal Financial Group Inc. reduced its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,645 shares of the financial services provider’s stock after selling 394 shares during the period. Principal Financial Group Inc.’s holdings in Zillow Group were worth $524,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in Z. HighTower Advisors LLC raised its position in Zillow Group by 35.7% during the fourth quarter. HighTower Advisors LLC now owns 23,452 shares of the financial services provider’s stock valued at $1,737,000 after purchasing an additional 6,174 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Zillow Group during the fourth quarter worth $206,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Zillow Group by 10.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,117 shares of the financial services provider’s stock worth $379,000 after buying an additional 467 shares during the last quarter. Xponance Inc. grew its stake in shares of Zillow Group by 8.0% during the fourth quarter. Xponance Inc. now owns 14,727 shares of the financial services provider’s stock worth $1,091,000 after buying an additional 1,088 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in shares of Zillow Group by 4.2% during the fourth quarter. Royal London Asset Management Ltd. now owns 61,546 shares of the financial services provider’s stock worth $4,557,000 after buying an additional 2,456 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Trading Down 0.2%

Shares of NASDAQ Z opened at $77.46 on Monday. The firm’s 50-day moving average price is $70.51 and its 200-day moving average price is $71.98. Zillow Group, Inc. has a 1-year low of $41.67 and a 1-year high of $89.39. The firm has a market capitalization of $18.70 billion, a P/E ratio of -227.82, a P/E/G ratio of 14.31 and a beta of 2.11.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO Jeremy Wacksman sold 10,984 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $757,676.32. Following the sale, the chief executive officer owned 171,517 shares in the company, valued at $11,831,242.66. This represents a 6.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Erik C. Blachford sold 965 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $70.35, for a total transaction of $67,887.75. Following the completion of the sale, the director owned 35,474 shares in the company, valued at $2,495,595.90. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,093 shares of company stock worth $6,989,688 over the last ninety 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.