Polymer Capital Management HK LTD Sells 30,954 Shares of Zillow Group, Inc. (NASDAQ:Z)

Polymer Capital Management HK LTD lowered its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 30.7% in the third quarter, HoldingsChannel reports. The fund owned 70,000 shares of the financial services provider’s stock after selling 30,954 shares during the period. Zillow Group accounts for approximately 1.0% of Polymer Capital Management HK LTD’s investment portfolio, making the stock its 29th largest holding. Polymer Capital Management HK LTD’s holdings in Zillow Group were worth $4,470,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in Z. Brighton Jones LLC raised its position in shares of Zillow Group by 2.4% during the third quarter. Brighton Jones LLC now owns 6,953 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 166 shares during the period. Arkadios Wealth Advisors lifted its position in Zillow Group by 0.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 41,430 shares of the financial services provider’s stock worth $2,645,000 after buying an additional 198 shares in the last quarter. Doliver Advisors LP boosted its stake in shares of Zillow Group by 3.3% during the 3rd quarter. Doliver Advisors LP now owns 9,681 shares of the financial services provider’s stock worth $618,000 after buying an additional 310 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Zillow Group by 66.3% in the 3rd quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 313 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Zillow Group by 5.5% in the third quarter. CIBC Asset Management Inc now owns 6,076 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 318 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Z has been the subject of a number of analyst reports. Cantor Fitzgerald upgraded Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Morgan Stanley boosted their target price on shares of Zillow Group from $46.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Craig Hallum upgraded shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.33.

Zillow Group Price Performance

Z stock opened at $83.97 on Wednesday. Zillow Group, Inc. has a 1 year low of $38.45 and a 1 year high of $86.88. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $68.49 and a 200 day simple moving average of $56.51.

Insider Activity at Zillow Group

In related news, insider Susan Daimler sold 3,484 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total transaction of $188,763.12. Following the sale, the insider now owns 22,464 shares in the company, valued at $1,217,099.52. This represents a 13.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thielke Claire Cormier sold 2,826 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.11, for a total transaction of $172,696.86. Following the sale, the director now directly owns 2,826 shares of the company’s stock, valued at approximately $172,696.86. This trade represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,591 shares of company stock worth $11,892,886 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.