Northern Trust Corp Increases Stock Holdings in Zillow Group, Inc. (NASDAQ:Z)

Northern Trust Corp raised its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 970,523 shares of the financial services provider's stock after purchasing an additional 144,820 shares during the quarter. Northern Trust Corp owned approximately 0.42% of Zillow Group worth $71,867,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. bought a new position in Zillow Group in the fourth quarter worth $27,769,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Zillow Group by 1,337.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 397,211 shares of the financial services provider's stock worth $29,413,000 after acquiring an additional 369,580 shares in the last quarter. Mackay Shields LLC purchased a new position in Zillow Group during the 4th quarter valued at about $17,496,000. Norges Bank purchased a new stake in Zillow Group in the fourth quarter worth about $15,923,000. Finally, Bridgewater Associates LP boosted its position in shares of Zillow Group by 38.3% in the 4th quarter. Bridgewater Associates LP now owns 724,532 shares of the financial services provider's stock worth $53,652,000 after purchasing an additional 200,760 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Stock Performance

Shares of NASDAQ:Z opened at $68.13 on Tuesday. The stock's 50-day simple moving average is $68.33 and its two-hundred day simple moving average is $73.46. The stock has a market capitalization of $16.53 billion, a price-to-earnings ratio of -144.96, a PEG ratio of 9.24 and a beta of 2.23. Zillow Group, Inc. has a 52-week low of $39.05 and a 52-week high of $89.39.

Zillow Group (NASDAQ:Z - Get Free Report) last announced its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (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%. As a group, equities analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In other news, CAO Jennifer Rock sold 5,796 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total value of $437,598.00. Following the transaction, the chief accounting officer now directly owns 51,370 shares in the company, valued at $3,878,435. The trade was a 10.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jun Choo sold 55,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the transaction, the chief operating officer now directly owns 86,853 shares of the company's stock, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,919 shares of company stock worth $5,744,978. Corporate insiders own 23.76% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a research note on Monday, April 28th. Wedbush reissued an "outperform" rating and set a $100.00 price objective on shares of Zillow Group in a research report on Monday. Keefe, Bruyette & Woods assumed coverage on shares of Zillow Group in a research note on Friday, March 28th. They set a "market perform" rating and a $80.00 price objective for the company. Baird R W upgraded shares of Zillow Group to a "hold" rating in a report on Friday, January 31st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a research report on Wednesday, February 12th. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $85.17.

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.

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