ARK Investment Management LLC Cuts Stake in Zillow Group, Inc. (NASDAQ:Z)

ARK Investment Management LLC reduced its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,434 shares of the financial services provider’s stock after selling 15,347 shares during the period. ARK Investment Management LLC’s holdings in Zillow Group were worth $9,733,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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 buying an additional 176,449 shares during the last quarter. Capital World Investors increased its position in shares of Zillow Group by 2.8% in the first quarter. Capital World Investors now owns 8,846,232 shares of the financial services provider’s stock valued at $431,519,000 after acquiring an additional 238,554 shares during the period. Dorsal Capital Management LP raised its stake in shares of Zillow Group by 59.8% during the second quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider’s stock valued at $143,809,000 after acquiring an additional 1,160,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Zillow Group by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,423,257 shares of the financial services provider’s stock worth $66,032,000 after purchasing an additional 139,489 shares during the period. Finally, Coronation Fund Managers Ltd. grew its stake in shares of Zillow Group by 238.9% in the second quarter. Coronation Fund Managers Ltd. now owns 864,733 shares of the financial services provider’s stock worth $40,115,000 after purchasing an additional 609,575 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Bank of America upped their price target on Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group upgraded Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 9th. Craig Hallum upgraded shares of Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

Insider Activity

In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the transaction, the director now owns 5,652 shares in the company, valued at approximately $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Bradley D. Owens sold 752 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total transaction of $39,953.76. Following the completion of the sale, the general counsel now owns 35,259 shares of the company’s stock, valued at $1,873,310.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the transaction, the director now owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,596 shares of company stock worth $3,938,581. Insiders own 23.76% of the company’s stock.

Zillow Group Stock Performance

Shares of Z stock opened at $72.63 on Friday. The company’s fifty day moving average price is $61.20 and its 200-day moving average price is $51.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. Zillow Group, Inc. has a 12 month low of $35.44 and a 12 month high of $74.05.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.13. The business had revenue of $572.00 million for the quarter, compared to analyst estimates of $539.74 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.34%. Equities analysts expect that Zillow Group, Inc. will post -0.33 earnings per share for the current year.

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.