Adage Capital Partners GP L.L.C. Makes New Investment in Zillow Group, Inc. (NASDAQ:Z)

Adage Capital Partners GP L.L.C. bought a new stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 375,000 shares of the financial services provider's stock, valued at approximately $27,769,000. Adage Capital Partners GP L.L.C. owned about 0.16% of Zillow Group at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Zillow Group by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,538,709 shares of the financial services provider's stock worth $113,941,000 after acquiring an additional 11,727 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Zillow Group during the fourth quarter worth about $7,375,000. Vinva Investment Management Ltd bought a new position in shares of Zillow Group during the fourth quarter worth about $1,187,000. Donoghue Forlines LLC bought a new position in shares of Zillow Group during the fourth quarter worth about $1,932,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Zillow Group by 18.5% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 44,114 shares of the financial services provider's stock worth $3,267,000 after acquiring an additional 6,900 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods assumed coverage on Zillow Group in a research report on Friday, March 28th. They set a "market perform" rating and a $80.00 price target on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Zillow Group in a research report on Wednesday, February 12th. KeyCorp raised shares of Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Sunday, February 2nd. William Blair started coverage on shares of Zillow Group in a report on Monday, April 21st. They issued a "market perform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Zillow Group from $90.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.71.

Zillow Group Stock Up 0.4 %

Z stock traded up $0.27 during midday trading on Thursday, hitting $67.60. 740,539 shares of the company traded hands, compared to its average volume of 3,331,918. The business has a 50 day simple moving average of $68.86 and a 200-day simple moving average of $73.22. The stock has a market capitalization of $16.40 billion, a price-to-earnings ratio of -143.91, a price-to-earnings-growth ratio of 9.24 and a beta of 2.19. Zillow Group, Inc. has a twelve month low of $38.45 and a twelve month high of $89.39.

Zillow Group (NASDAQ:Z - Get Free Report) last released its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. Equities research analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CTO David A. Beitel sold 2,025 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.75, for a total value of $157,443.75. Following the sale, the chief technology officer now directly owns 151,046 shares in the company, valued at $11,743,826.50. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer Rock sold 5,796 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total transaction of $437,598.00. Following the completion of the sale, the chief accounting officer now owns 51,370 shares in the company, valued at $3,878,435. This represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,919 shares of company stock valued at $5,744,978 in the last 90 days. 23.76% of the stock is currently owned by company insiders.

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.