CIBC Asset Management Inc Boosts Stake in Zillow Group, Inc. (NASDAQ:Z)

CIBC Asset Management Inc raised its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,907 shares of the financial services provider’s stock after acquiring an additional 831 shares during the period. CIBC Asset Management Inc’s holdings in Zillow Group were worth $511,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. abrdn plc boosted its position in shares of Zillow Group by 98.0% in the third quarter. abrdn plc now owns 48,990 shares of the financial services provider’s stock worth $3,128,000 after buying an additional 24,247 shares during the period. IVY Lane Capital Management LLC boosted its position in shares of Zillow Group by 35.0% in the third quarter. IVY Lane Capital Management LLC now owns 135,000 shares of the financial services provider’s stock worth $8,620,000 after buying an additional 35,000 shares during the period. Donoghue Forlines LLC purchased a new stake in shares of Zillow Group in the fourth quarter worth about $1,932,000. Thrivent Financial for Lutherans purchased a new stake in shares of Zillow Group in the third quarter worth about $6,267,000. Finally, Friedenthal Financial purchased a new stake in shares of Zillow Group in the fourth quarter worth about $754,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling at Zillow Group

In other news, COO Jun Choo sold 1,277 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $99,248.44. Following the sale, the chief operating officer now directly owns 86,853 shares in the company, valued at approximately $6,750,215.16. This represents a 1.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Hofmann sold 7,175 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $85.36, for a total value of $612,458.00. Following the sale, the chief financial officer now owns 99,362 shares in the company, valued at $8,481,540.32. The trade was a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,838 shares of company stock worth $4,617,389 over the last quarter. 23.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Zillow Group in a research report on Wednesday, February 12th. Baird R W raised Zillow Group to a “hold” rating in a report on Friday, January 31st. KeyCorp raised 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 report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Five investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Zillow Group Stock Down 4.4 %

Shares of NASDAQ Z opened at $74.91 on Friday. The stock’s 50 day moving average price is $78.39 and its two-hundred day moving average price is $69.74. Zillow Group, Inc. has a 52-week low of $38.45 and a 52-week high of $89.39. The stock has a market capitalization of $18.17 billion, a P/E ratio of -159.38, a PEG ratio of 9.24 and a beta of 2.03.

Zillow Group (NASDAQ:Z) 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 the consensus estimate 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%. On average, 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.