TB Alternative Assets Ltd. Lowers Stake in Zillow Group Inc (NASDAQ:Z)

TB Alternative Assets Ltd. cut its position in shares of Zillow Group Inc (NASDAQ:Z) by 90.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,700 shares of the financial services provider’s stock after selling 63,200 shares during the quarter. TB Alternative Assets Ltd.’s holdings in Zillow Group were worth $311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisor Group Inc. grew its holdings in Zillow Group by 30.1% in the fourth quarter. Advisor Group Inc. now owns 1,447 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 335 shares during the period. Strs Ohio grew its holdings in Zillow Group by 33.6% in the first quarter. Strs Ohio now owns 1,662 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 418 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Zillow Group in the first quarter valued at approximately $87,000. Daiwa Securities Group Inc. grew its holdings in Zillow Group by 26.2% in the first quarter. Daiwa Securities Group Inc. now owns 5,236 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 1,086 shares during the period. Finally, Berman Capital Advisors LLC grew its holdings in Zillow Group by 44.5% in the first quarter. Berman Capital Advisors LLC now owns 7,229 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 2,225 shares during the period. Institutional investors and hedge funds own 78.21% of the company’s stock.

A number of research analysts have weighed in on Z shares. BidaskClub raised shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 4th. KeyCorp started coverage on shares of Zillow Group in a research report on Friday, July 19th. They set an “overweight” rating and a $66.00 price target on the stock. Cowen raised shares of Zillow Group from a “market perform” rating to an “outperform” rating in a research report on Monday, April 8th. Standpoint Research cut shares of Zillow Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Finally, Bank of America lifted their price target on shares of Zillow Group from $31.00 to $35.00 and gave the company an “underperform” rating in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $40.84.

In related news, Chairman Lloyd D. Frink sold 12,500 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $47.43, for a total value of $592,875.00. Following the completion of the sale, the chairman now owns 3,288,108 shares of the company’s stock, valued at $155,954,962.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Rock sold 4,406 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $37.64, for a total transaction of $165,841.84. Following the completion of the sale, the chief accounting officer now directly owns 40,873 shares of the company’s stock, valued at approximately $1,538,459.72. The disclosure for this sale can be found here. Insiders have sold 231,400 shares of company stock valued at $10,360,125 in the last 90 days. Insiders own 19.87% of the company’s stock.

Z traded up $0.59 during trading on Thursday, hitting $50.55. The company had a trading volume of 82,330 shares, compared to its average volume of 1,876,101. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.73 and a quick ratio of 3.98. Zillow Group Inc has a 1-year low of $26.38 and a 1-year high of $58.75. The stock has a 50-day moving average of $47.49.

Zillow Group (NASDAQ:Z) last released its earnings results on Thursday, May 9th. The financial services provider reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.14). Zillow Group had a negative net margin of 11.35% and a negative return on equity of 3.18%. The business had revenue of $454.10 million for the quarter.

About Zillow Group

Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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Institutional Ownership by Quarter for Zillow Group (NASDAQ:Z)

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