California State Teachers Retirement System Reduces Stock Position in Zillow Group, Inc. (NASDAQ:Z)

California State Teachers Retirement System cut its position in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260,304 shares of the financial services provider's stock after selling 57,340 shares during the period. California State Teachers Retirement System owned 0.11% of Zillow Group worth $19,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new stake in shares of Zillow Group during the fourth quarter worth $55,000. Assetmark Inc. boosted its stake in shares of Zillow Group by 7,410.0% in the fourth quarter. Assetmark Inc. now owns 751 shares of the financial services provider's stock valued at $56,000 after buying an additional 741 shares during the period. Blue Trust Inc. boosted its stake in shares of Zillow Group by 17.5% in the fourth quarter. Blue Trust Inc. now owns 922 shares of the financial services provider's stock valued at $68,000 after buying an additional 137 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Zillow Group by 53.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider's stock valued at $79,000 after buying an additional 367 shares during the period. Finally, Natixis bought a new stake in shares of Zillow Group in the fourth quarter valued at approximately $80,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on Z shares. Wedbush restated an "outperform" rating and set a $100.00 price objective on shares of Zillow Group in a research report on Monday, May 5th. Wells Fargo & Company upgraded shares of Zillow Group to a "hold" rating in a report on Monday, April 28th. Needham & Company LLC reiterated a "hold" rating on shares of Zillow Group in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price target on shares of Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, 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. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $83.71.

Zillow Group Stock Performance

Zillow Group stock traded down $0.40 during mid-day trading on Tuesday, reaching $67.96. The company's stock had a trading volume of 382,866 shares, compared to its average volume of 3,197,366. Zillow Group, Inc. has a 12-month low of $40.61 and a 12-month high of $89.39. The company has a market capitalization of $16.41 billion, a P/E ratio of -144.60, a PEG ratio of 9.24 and a beta of 2.23. The firm's fifty day moving average price is $66.29 and its two-hundred day moving average price is $73.81.

Insider Activity

In related news, insider Dan Spaulding sold 5,534 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $381,735.32. Following the completion of the transaction, the insider now directly owns 68,889 shares of the company's stock, valued at $4,751,963.22. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeremy Wacksman sold 10,984 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $757,676.32. Following the completion of the transaction, the chief executive officer now directly owns 171,517 shares of the company's stock, valued at approximately $11,831,242.66. The trade was a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,741 shares of company stock worth $7,114,134 in the last three months. Corporate insiders own 25.03% of the company's stock.

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.