Maryland State Retirement & Pension System Cuts Stake in Zillow Group, Inc. (NASDAQ:Z)

Maryland State Retirement & Pension System lessened its stake in Zillow Group, Inc. (NASDAQ:Z) by 8.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,283 shares of the financial services provider’s stock after selling 788 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Zillow Group were worth $613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its holdings in Zillow Group by 179.5% during the 3rd quarter. FMR LLC now owns 5,095,336 shares of the financial services provider’s stock valued at $325,337,000 after buying an additional 3,272,118 shares in the last quarter. Groupama Asset Managment purchased a new position in shares of Zillow Group in the third quarter valued at $83,005,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Zillow Group in the third quarter valued at $38,310,000. Bridgewater Associates LP raised its stake in Zillow Group by 428.2% during the third quarter. Bridgewater Associates LP now owns 523,772 shares of the financial services provider’s stock valued at $33,443,000 after purchasing an additional 424,615 shares in the last quarter. Finally, Mackay Shields LLC purchased a new stake in Zillow Group during the fourth quarter valued at $17,496,000. Institutional investors own 71.01% of the company’s stock.

Insider Transactions at Zillow Group

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the transaction, the chief operating officer now owns 86,853 shares of the company’s stock, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeremy Hofmann sold 23,388 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.98, for a total value of $1,987,512.24. Following the completion of the transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. The trade was a 19.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,065 shares of company stock valued at $7,660,165 in the last quarter. 23.76% of the stock is currently owned by corporate insiders.

Zillow Group Stock Performance

NASDAQ Z opened at $73.65 on Tuesday. The company has a market cap of $17.86 billion, a PE ratio of -156.70, a P/E/G ratio of 9.24 and a beta of 2.27. The firm’s 50 day moving average price is $77.63 and its 200-day moving average price is $72.74. Zillow Group, Inc. has a 52-week low of $38.45 and a 52-week high of $89.39.

Zillow Group (NASDAQ:Z) last issued 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%. On average, analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Z has been the topic of a number of recent research reports. Baird R W upgraded Zillow Group to a “hold” rating in a research report on Friday, January 31st. 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. Morgan Stanley lifted their price objective on shares of 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 reissued a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 12th. Finally, KeyCorp raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Five research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Zillow Group 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.