Ameriprise Financial Inc. Has $2.87 Million Stock Holdings in Zillow Group, Inc. (NASDAQ:Z)

Ameriprise Financial Inc. lowered its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 88.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,710 shares of the financial services provider's stock after selling 297,005 shares during the period. Ameriprise Financial Inc.'s holdings in Zillow Group were worth $2,866,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in Z. Altimeter Capital Management LP lifted its stake in shares of Zillow Group by 52.0% in the 4th quarter. Altimeter Capital Management LP now owns 1,300,738 shares of the financial services provider's stock worth $96,320,000 after acquiring an additional 445,158 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Zillow Group during the fourth quarter worth approximately $27,769,000. Arrowstreet Capital Limited Partnership lifted its position in Zillow Group by 1,337.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 397,211 shares of the financial services provider's stock worth $29,413,000 after purchasing an additional 369,580 shares during the period. Mackay Shields LLC acquired a new stake in Zillow Group in the fourth quarter worth approximately $17,496,000. Finally, Norges Bank bought a new position in Zillow Group during the 4th quarter valued at $15,923,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Analysts Set New Price Targets

Z has been the subject of a number of research reports. William Blair initiated coverage on shares of Zillow Group in a report on Monday, April 21st. They set a "market perform" rating for the company. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 12th. Wedbush restated an "outperform" rating and issued a $100.00 target price on shares of Zillow Group in a report on Monday, May 5th. Wells Fargo & Company raised Zillow Group to a "hold" rating in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. decreased their price target on Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $83.71.

Zillow Group Stock Performance

Shares of Zillow Group stock traded down $0.40 during trading on Friday, reaching $66.07. The company's stock had a trading volume of 3,092,166 shares, compared to its average volume of 3,219,500. Zillow Group, Inc. has a one year low of $39.48 and a one year high of $89.39. The firm has a market cap of $15.95 billion, a price-to-earnings ratio of -140.57, a price-to-earnings-growth ratio of 9.24 and a beta of 2.23. The business's fifty day moving average price is $66.35 and its 200-day moving average price is $73.85.

Insider Activity

In related news, insider Dan Spaulding sold 5,534 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $381,735.32. Following the completion of the transaction, the insider now owns 68,889 shares in the company, valued at $4,751,963.22. This trade represents a 7.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer Rock sold 5,997 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $68.06, for a total value of $408,155.82. Following the completion of the sale, the chief accounting officer now directly owns 58,320 shares in the company, valued at approximately $3,969,259.20. This represents a 9.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,741 shares of company stock valued at $7,114,134. 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.