The Manufacturers Life Insurance Company reduced its stake in Zillow Group, Inc. (NASDAQ:Z) by 8.8% during the fourth quarter, as disclosed in its recent Form 13F filing with the Securities & Exchange Commission. Following the sale of 3,971 shares, the firm now holds 40,987 shares of the financial services provider, valued at $3,035,000.
Other institutional investors have also adjusted their Zillow Group holdings. National Bank of Canada FI initiated a new stake worth approximately $55,000. Assetmark Inc. increased its holdings by 7,410.0%, now owning 751 shares valued at $56,000. Blue Trust Inc. boosted its position by 17.5%, holding 922 shares worth $68,000. Smartleaf Asset Management LLC raised its stake by 53.3%, now owning 1,055 shares valued at $79,000. Natixis also acquired a new stake worth about $80,000.
Institutional investors currently own 71.01% of Zillow Group’s stock. Recent insider transactions include COO Jun Choo selling 1,277 shares on February 13th at an average price of $77.72, reducing his stake by 1.45%. CTO David A. Beitel also sold 2,025 shares on the same day at $77.75, decreasing his position by 1.32%. Over the last ninety days, insiders have sold a total of 73,919 shares valued at $5,744,978. Company insiders currently hold 25.03% of the stock.
Zillow Group’s stock opened at $67.93 on Friday, with a 12-month low of $39.05 and a high of $89.39. The company has a market capitalization of $16.48 billion and a price-to-earnings ratio of -144.53. The firm reported a negative earnings per share of ($0.22) in its last quarterly earnings release, missing the consensus estimate of $0.26.
Analysts have recently commented on Zillow Group’s stock. Deutsche Bank Aktiengesellschaft raised its target price from $90.00 to $95.00 and maintained a “buy” rating. Baird R W upgraded the stock to a “hold” rating. Wedbush reiterated an “outperform” rating with a $100.00 target price. Morgan Stanley increased its price target from $60.00 to $75.00 and assigned an “equal weight” rating. Keefe, Bruyette & Woods lowered its price objective from $80.00 to $76.00 and set a “market perform” rating. The company currently has an average rating of “Moderate Buy” with a consensus target price of $83.71.
