CIBC Asset Management Inc Raises Holdings in Zillow Group, Inc. (NASDAQ:Z)

CIBC Asset Management Inc increased its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 13.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,907 shares of the financial services provider’s stock after purchasing an additional 831 shares during the quarter. CIBC Asset Management Inc’s holdings in Zillow Group were worth $511,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in Z. Blue Trust Inc. boosted its stake in Zillow Group by 66.3% during the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock worth $50,000 after buying an additional 313 shares during the last quarter. Brooklyn Investment Group acquired a new position in Zillow Group during the third quarter worth $74,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Zillow Group by 86.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,250 shares of the financial services provider’s stock worth $94,000 after buying an additional 579 shares during the last quarter. Rosenberg Matthew Hamilton boosted its stake in Zillow Group by 17.9% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,617 shares of the financial services provider’s stock worth $120,000 after buying an additional 245 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. acquired a new position in Zillow Group during the third quarter worth $128,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Z has been the topic of several recent analyst reports. KeyCorp raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Baird R W raised Zillow Group to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley increased their target price on Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and set a $100.00 price target on shares of Zillow Group in a report on Wednesday, February 12th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Insider Activity

In related news, COO Jun Choo sold 1,277 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the transaction, the chief operating officer now directly owns 86,853 shares of the company’s stock, valued at $6,750,215.16. This trade represents a 1.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 7,175 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $85.36, for a total value of $612,458.00. Following the completion of the transaction, the chief financial officer now directly owns 99,362 shares of the company’s stock, 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 sold 55,838 shares of company stock valued at $4,617,389 in the last three months. 23.76% of the stock is currently owned by company insiders.

Zillow Group Stock Down 4.4 %

Shares of NASDAQ Z opened at $74.91 on Friday. The stock has a market cap of $18.17 billion, a PE ratio of -159.38, a price-to-earnings-growth ratio of 9.24 and a beta of 2.03. Zillow Group, Inc. has a 52-week low of $38.45 and a 52-week high of $89.39. The business has a 50-day moving average price of $78.39 and a 200 day moving average price of $69.74.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share 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%. Sell-side analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share 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.