Korea Investment CORP Increases Position in Zillow Group, Inc. (NASDAQ:Z)

Korea Investment CORP boosted its holdings in Zillow Group, Inc. (NASDAQ:Z) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 96,629 shares of the financial services provider’s stock after purchasing an additional 8,717 shares during the period. Korea Investment CORP’s holdings in Zillow Group were worth $7,155,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in Zillow Group by 55.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 44,958 shares of the financial services provider’s stock worth $2,871,000 after acquiring an additional 16,055 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Zillow Group by 30.0% during the third quarter. Public Sector Pension Investment Board now owns 20,508 shares of the financial services provider’s stock worth $1,309,000 after purchasing an additional 4,730 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Zillow Group in the third quarter valued at about $13,096,000. Cinctive Capital Management LP raised its stake in Zillow Group by 36.4% during the third quarter. Cinctive Capital Management LP now owns 30,001 shares of the financial services provider’s stock valued at $1,916,000 after buying an additional 8,001 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Zillow Group by 66.6% during the 3rd quarter. Janus Henderson Group PLC now owns 14,260 shares of the financial services provider’s stock worth $910,000 after buying an additional 5,700 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 2,854 shares of the company’s 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 approximately $10,460,924.24. This represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 1,612 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total value of $136,987.76. Following the sale, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at approximately $8,443,782.76. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,919 shares of company stock valued at $7,869,478. 23.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on Z shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Zillow Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Wedbush reissued an “outperform” rating and issued a $100.00 target price on shares of Zillow Group in a report on Wednesday, February 12th. Morgan Stanley upped their target price on Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods started coverage on Zillow Group in a report on Friday. They issued a “market perform” rating and a $80.00 price target on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.71.

Zillow Group Stock Performance

Shares of Z opened at $68.56 on Tuesday. Zillow Group, Inc. has a one year low of $38.45 and a one year high of $89.39. The stock’s fifty day moving average is $77.10 and its 200-day moving average is $73.28. The firm has a market capitalization of $16.63 billion, a price-to-earnings ratio of -145.87, a price-to-earnings-growth ratio of 9.24 and a beta of 2.27.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. Analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

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.