Wells Fargo & Company MN Sells 1,938,328 Shares of Zillow Group, Inc. (NASDAQ:Z)

Wells Fargo & Company MN decreased its position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 97.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,925 shares of the financial services provider's stock after selling 1,938,328 shares during the period. Wells Fargo & Company MN's holdings in Zillow Group were worth $4,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. National Bank of Canada FI bought a new stake in Zillow Group during the fourth quarter worth about $55,000. Assetmark Inc. boosted its position in shares of Zillow Group by 7,410.0% during the 4th quarter. Assetmark Inc. now owns 751 shares of the financial services provider's stock worth $56,000 after acquiring an additional 741 shares in the last quarter. Blue Trust Inc. increased its stake in 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 acquiring an additional 137 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Zillow Group by 53.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider's stock valued at $79,000 after purchasing an additional 367 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Zillow Group by 86.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,250 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 579 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on Z shares. William Blair started coverage on Zillow Group in a research note on Monday, April 21st. They issued a "market perform" rating for the company. KeyCorp upgraded Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Sunday, February 2nd. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 12th. Baird R W raised Zillow Group to a "hold" rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods began coverage on shares of Zillow Group in a research report on Friday, March 28th. They set a "market perform" rating and a $80.00 target price for the company. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Zillow Group presently has an average rating of "Moderate Buy" and an average target price of $81.71.

Zillow Group Price Performance

Shares of Zillow Group stock traded up $0.44 on Friday, reaching $66.27. 1,231,437 shares of the company traded hands, compared to its average volume of 3,346,416. Zillow Group, Inc. has a 52 week low of $38.45 and a 52 week high of $89.39. The company has a 50 day moving average of $69.51 and a 200 day moving average of $73.10. The firm has a market capitalization of $16.07 billion, a PE ratio of -141.00, a PEG ratio of 9.24 and a beta of 2.19.

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 (EPS) 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 anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Activity

In related news, insider Errol G. Samuelson sold 2,854 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total value of $209,312.36. Following the transaction, the insider now owns 142,636 shares of the company's stock, valued at $10,460,924.24. This represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jun Choo sold 55,000 shares of the 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 transaction, the chief operating officer now owns 86,853 shares in the company, valued at $6,790,167.54. This trade represents a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,919 shares of company stock worth $7,869,478 in the last three months. Corporate insiders own 23.76% 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.