The Manufacturers Life Insurance Company Lowers Stock Holdings in Zillow Group, Inc. (NASDAQ:ZG)

The Manufacturers Life Insurance Company reduced its position in Zillow Group, Inc. (NASDAQ:ZG) by 10.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,526 shares of the technology company’s stock after selling 522 shares during the period. The Manufacturers Life Insurance Company’s holdings in Zillow Group were worth $280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZG. Mirabella Financial Services LLP purchased a new stake in Zillow Group in the 3rd quarter worth approximately $11,351,000. Mark Asset Management LP purchased a new stake in shares of Zillow Group during the 2nd quarter valued at $4,524,000. Selkirk Management LLC grew its stake in shares of Zillow Group by 37.4% during the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after buying an additional 87,300 shares during the period. Garde Capital Inc. grew its stake in shares of Zillow Group by 132.7% during the 2nd quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock valued at $6,297,000 after buying an additional 79,733 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Zillow Group by 93.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 142,917 shares of the technology company’s stock valued at $8,851,000 after buying an additional 68,984 shares during the period. 20.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ZG. UBS Group lifted their target price on shares of Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Barclays lifted their target price on shares of Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Royal Bank of Canada lifted their target price on shares of Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Evercore ISI lifted their target price on shares of Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Piper Sandler lifted their target price on shares of Zillow Group from $73.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.12.

Insider Buying and Selling

In other Zillow Group news, CTO David A. Beitel sold 56,750 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $72.39, for a total value of $4,108,132.50. Following the sale, the chief technology officer now owns 92 shares in the company, valued at approximately $6,659.88. This trade represents a 99.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Rock sold 3,187 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $74.00, for a total transaction of $235,838.00. Following the completion of the sale, the chief accounting officer now owns 69,649 shares in the company, valued at $5,154,026. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,314 shares of company stock worth $11,782,498 over the last quarter. 17.14% of the stock is owned by company insiders.

Zillow Group Stock Performance

Shares of ZG stock opened at $76.84 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group, Inc. has a one year low of $38.06 and a one year high of $83.67. The company’s 50-day simple moving average is $68.74 and its 200-day simple moving average is $56.94. The stock has a market capitalization of $17.95 billion, a price-to-earnings ratio of -134.81 and a beta of 2.08.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $581.00 million for the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. Zillow Group’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. Equities analysts anticipate that Zillow Group, Inc. will post -0.34 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.