Zillow Group, Inc. (NASDAQ:Z) Stake Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,987 shares of the financial services provider's stock after selling 3,971 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Zillow Group were worth $3,035,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. acquired a new stake in Zillow Group in the fourth quarter worth approximately $27,769,000. Arrowstreet Capital Limited Partnership increased its stake in shares of 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 acquiring an additional 369,580 shares during the last quarter. Mackay Shields LLC acquired a new position in shares of Zillow Group in the fourth quarter worth $17,496,000. Norges Bank acquired a new position in shares of Zillow Group in the fourth quarter worth $15,923,000. Finally, Bridgewater Associates LP increased its position in Zillow Group by 38.3% during the fourth quarter. Bridgewater Associates LP now owns 724,532 shares of the financial services provider's stock worth $53,652,000 after buying an additional 200,760 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Price Performance

NASDAQ:Z traded up $3.28 during midday trading on Monday, hitting $71.21. The company's stock had a trading volume of 3,637,539 shares, compared to its average volume of 3,266,607. Zillow Group, Inc. has a fifty-two week low of $39.05 and a fifty-two week high of $89.39. The firm's 50 day moving average is $67.60 and its 200-day moving average is $73.74. The firm has a market cap of $17.27 billion, a P/E ratio of -151.51, a P/E/G ratio of 9.24 and a beta of 2.23.

Zillow Group (NASDAQ:Z - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates 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, analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insider Activity

In other news, CTO David A. Beitel sold 2,025 shares of Zillow Group stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.75, for a total value of $157,443.75. Following the transaction, the chief technology officer now directly owns 151,046 shares of the company's stock, valued at $11,743,826.50. The trade was a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jun Choo sold 55,000 shares of Zillow Group stock in a transaction dated Thursday, February 27th. The shares were 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 in the company, valued at $6,790,167.54. This represents a 38.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,641 shares of company stock valued at $7,665,962. 25.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Z has been the subject of several recent analyst reports. KeyCorp raised shares of Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Sunday, February 2nd. JPMorgan Chase & Co. cut their price objective on shares of Zillow Group from $93.00 to $79.00 and set an "overweight" rating on the stock in a research report on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 12th. Morgan Stanley lifted their price target on shares of Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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 equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Zillow Group currently has an average rating of "Moderate Buy" and an average price target of $83.71.

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.