The Manufacturers Life Insurance Company Acquires 21,439 Shares of Zillow Group, Inc. $Z

The Manufacturers Life Insurance Company increased its holdings in Zillow Group, Inc. (NASDAQ:Z) by 106.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,519 shares of the financial services provider’s stock after acquiring an additional 21,439 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Zillow Group were worth $1,718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in Z. Independent Franchise Partners LLP raised its holdings in Zillow Group by 0.9% in the 4th quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock worth $747,241,000 after purchasing an additional 94,569 shares in the last quarter. Capital World Investors lifted its position in shares of Zillow Group by 1.8% in the 4th quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock worth $738,554,000 after purchasing an additional 191,058 shares during the period. Tiger Global Management LLC boosted its stake in shares of Zillow Group by 21.7% during the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after purchasing an additional 1,312,000 shares in the last quarter. State Street Corp boosted its stake in shares of Zillow Group by 3.9% during the 4th quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock valued at $261,882,000 after purchasing an additional 143,726 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Zillow Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,363,657 shares of the financial services provider’s stock valued at $228,898,000 after buying an additional 55,323 shares during the period. Institutional investors own 71.01% of the company’s stock.

Zillow Group News Roundup

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow reported second-quarter adjusted earnings of $0.52 per share, above the roughly $0.44–$0.45 consensus estimate, while revenue of $772 million also exceeded expectations. Revenue increased 18% year over year, providing evidence of continued business growth. Zillow Q2 earnings beat
• Positive Sentiment: July home sales rose 7% year over year, the strongest annual increase of the year, potentially supporting Zillow’s transaction-related businesses. Zillow July market report

Zillow Group Price Performance

Shares of Zillow Group stock opened at $33.61 on Monday. Zillow Group, Inc. has a 1 year low of $29.23 and a 1 year high of $93.88. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 152.78, a PEG ratio of 1.44 and a beta of 1.98. The company has a 50-day moving average of $33.05 and a 200 day moving average of $41.35.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.10 million. On average, equities analysts anticipate that Zillow Group, Inc. will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on Z shares. Keefe, Bruyette & Woods decreased their price target on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday. JPMorgan Chase & Co. reduced their target price on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Royal Bank Of Canada decreased their target price on Zillow Group from $95.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, June 10th. UBS Group lowered their target price on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group dropped their price target on Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Insider Transactions at Zillow Group

In other news, CEO Jeremy Wacksman sold 9,072 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $36.54, for a total value of $331,490.88. Following the sale, the chief executive officer directly owned 153,699 shares of the company’s stock, valued at $5,616,161.46. The trade was a 5.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,078 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the completion of the sale, the insider owned 49,696 shares in the company, valued at $1,858,630.40. The trade was a 5.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 42,910 shares of company stock worth $1,605,732. Company insiders own 23.76% of the company’s stock.

Zillow Group Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.