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

The Manufacturers Life Insurance Company grew its position in Zillow Group, Inc. (NASDAQ:Z) by 106.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 41,519 shares of the financial services provider’s stock after buying an additional 21,439 shares during the period. The Manufacturers Life Insurance Company’s holdings in Zillow Group were worth $1,718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its holdings in shares of Zillow Group by 4.7% during the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after buying an additional 171 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Zillow Group by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 7,550 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 220 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in Zillow Group by 6.9% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 3,923 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 252 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Zillow Group by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,410 shares of the financial services provider’s stock valued at $4,269,000 after acquiring an additional 259 shares in the last quarter. Finally, Motley Fool Asset Management LLC boosted its stake in Zillow Group by 7.2% during the 4th quarter. Motley Fool Asset Management LLC now owns 4,194 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 281 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Zillow Group News Summary

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

Insider Buying and Selling

In related news, CFO Jeremy Hofmann sold 5,501 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $205,737.40. Following the completion of the sale, the chief financial officer owned 68,315 shares in the company, valued at approximately $2,554,981. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, CEO Jeremy Wacksman sold 9,072 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the transaction, the chief executive officer directly owned 153,699 shares in the company, valued at approximately $5,616,161.46. This represents a 5.57% 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. Insiders have sold a total of 42,910 shares of company stock valued at $1,605,732 over the last ninety days. 23.76% of the stock is owned by insiders.

Zillow Group Stock Performance

Shares of Z stock opened at $33.61 on Monday. Zillow Group, Inc. has a 12-month low of $29.23 and a 12-month high of $93.88. The stock has a market capitalization of $7.69 billion, a P/E ratio of 152.78, a P/E/G ratio of 1.44 and a beta of 1.98. The firm’s 50 day moving average is $33.05 and its 200 day moving average is $41.35.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. As a group, equities analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on Z. Zacks Research lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Evercore downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price objective on Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Jefferies Financial Group reduced their price objective on Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.50.

About Zillow Group

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.