New York Life Investment Management LLC Reduces Stock Holdings in Zillow Group, Inc. (NASDAQ:Z)

New York Life Investment Management LLC decreased its holdings in Zillow Group, Inc. (NASDAQ:Z) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,168 shares of the financial services provider’s stock after selling 2,325 shares during the quarter. New York Life Investment Management LLC’s holdings in Zillow Group were worth $1,271,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC purchased a new position in Zillow Group during the third quarter valued at $204,000. Assenagon Asset Management S.A. purchased a new position in Zillow Group during the third quarter valued at $301,000. abrdn plc lifted its position in Zillow Group by 98.0% during the third quarter. abrdn plc now owns 48,990 shares of the financial services provider’s stock valued at $3,128,000 after buying an additional 24,247 shares during the period. First Trust Direct Indexing L.P. purchased a new position in Zillow Group during the third quarter valued at $215,000. Finally, Gladstone Institutional Advisory LLC purchased a new position in Zillow Group during the third quarter valued at $213,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on Z shares. KeyCorp raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Morgan Stanley raised their price objective on Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Zillow Group in a research report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 12th. Finally, Baird R W raised Zillow Group to a “hold” rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Insider Buying and Selling

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the completion of the sale, the chief operating officer now directly owns 86,853 shares in the company, valued at $6,790,167.54. The trade was a 38.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer Rock sold 5,796 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total value of $437,598.00. Following the sale, the chief accounting officer now owns 51,370 shares of the company’s stock, valued at approximately $3,878,435. This represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,098 shares of company stock worth $7,911,237. 23.76% of the stock is owned by corporate insiders.

Zillow Group Stock Performance

NASDAQ Z opened at $74.28 on Tuesday. Zillow Group, Inc. has a one year low of $38.45 and a one year high of $89.39. The stock has a 50-day moving average of $78.27 and a 200 day moving average of $70.81. The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of -158.04, a PEG ratio of 9.24 and a beta of 2.03.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate 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%. On average, equities analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal 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.