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

Wells Fargo & Company MN trimmed its position in Zillow Group, Inc. (NASDAQ:Z) by 97.2% in the 4th quarter, Holdings Channel reports. The firm owned 54,925 shares of the financial services provider’s stock after selling 1,938,328 shares during the quarter. Wells Fargo & Company MN’s holdings in Zillow Group were worth $4,067,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in Z. Arrowstreet Capital Limited Partnership raised its stake in 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 valued at $29,413,000 after purchasing an additional 369,580 shares in the last quarter. Mackay Shields LLC bought a new position in shares of Zillow Group in the 4th quarter worth $17,496,000. Norges Bank purchased a new stake in shares of Zillow Group during the 4th quarter valued at $15,923,000. Hillman Co. raised its position in shares of Zillow Group by 88.1% during the 4th quarter. Hillman Co. now owns 348,301 shares of the financial services provider’s stock valued at $25,792,000 after buying an additional 163,105 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Zillow Group by 267.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,480 shares of the financial services provider’s stock worth $14,846,000 after acquiring an additional 145,889 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zillow Group

In other Zillow Group news, COO Jun Choo sold 1,277 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total transaction of $99,248.44. Following the completion of the transaction, the chief operating officer now owns 86,853 shares of the company’s stock, valued at approximately $6,750,215.16. This trade represents a 1.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeremy Hofmann sold 1,612 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 99,362 shares in the company, 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. Insiders have sold 98,919 shares of company stock worth $7,869,478 over the last ninety days. 23.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on Z shares. William Blair assumed coverage on Zillow Group in a research note on Monday. They issued a “market perform” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a report on Wednesday, February 12th. KeyCorp raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Morgan Stanley increased 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 report on Monday, January 13th. Finally, Wedbush restated an “outperform” rating and issued a $100.00 price objective on shares of Zillow Group in a report on Wednesday, February 12th. Seven 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $81.71.

Zillow Group Stock Down 3.6 %

NASDAQ:Z opened at $60.29 on Tuesday. The firm has a market capitalization of $14.62 billion, a P/E ratio of -128.28, a P/E/G ratio of 9.24 and a beta of 2.19. The company has a fifty day moving average of $70.72 and a 200 day moving average of $73.17. Zillow Group, Inc. has a 52 week low of $38.45 and a 52 week high of $89.39.

Zillow Group (NASDAQ:Z) last announced 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%. As a group, analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current year.

Zillow Group Company 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.