Viewpoint Capital Management LLC Decreases Stock Position in Zillow Group, Inc. (NASDAQ:Z)

Viewpoint Capital Management LLC lowered its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,264 shares of the financial services provider’s stock after selling 1,838 shares during the period. Viewpoint Capital Management LLC’s holdings in Zillow Group were worth $708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Capital Group California Inc. raised its position in shares of Zillow Group by 3.1% during the 4th quarter. Legacy Capital Group California Inc. now owns 8,794 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 264 shares during the last quarter. Level Four Advisory Services LLC raised its holdings in shares of Zillow Group by 0.9% in the fourth quarter. Level Four Advisory Services LLC now owns 33,058 shares of the financial services provider’s stock worth $1,913,000 after acquiring an additional 282 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Zillow Group by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 86,527 shares of the financial services provider’s stock valued at $4,221,000 after acquiring an additional 403 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Zillow Group during the fourth quarter valued at $25,000. Finally, Wedmont Private Capital increased its position in Zillow Group by 1.9% during the 1st quarter. Wedmont Private Capital now owns 24,920 shares of the financial services provider’s stock worth $1,196,000 after purchasing an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling

In other news, CFO Jeremy Hofmann sold 7,155 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $56.89, for a total value of $407,047.95. Following the completion of the transaction, the chief financial officer now directly owns 111,239 shares in the company, valued at $6,328,386.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zillow Group news, Director Jay C. Hoag acquired 1,000,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were bought at an average cost of $42.27 per share, for a total transaction of $42,270,000.00. Following the acquisition, the director now directly owns 652,520 shares of the company’s stock, valued at $27,582,020.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeremy Hofmann sold 7,155 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $56.89, for a total value of $407,047.95. Following the transaction, the chief financial officer now owns 111,239 shares of the company’s stock, valued at $6,328,386.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 199,558 shares of company stock valued at $10,236,754. Corporate insiders own 23.76% of the company’s stock.

Zillow Group Stock Performance

Zillow Group stock opened at $55.30 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a fifty day moving average of $49.96 and a 200-day moving average of $48.18. Zillow Group, Inc. has a 52-week low of $33.80 and a 52-week high of $61.13.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.13. The firm had revenue of $572.00 million during the quarter, compared to the consensus estimate of $539.74 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. As a group, analysts predict that Zillow Group, Inc. will post -0.33 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wedbush reaffirmed a “neutral” rating and set a $50.00 price target on shares of Zillow Group in a research note on Thursday, August 8th. UBS Group upgraded shares of Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Craig Hallum upgraded shares of Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and an average target price of $57.20.

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.