Bank of Nova Scotia Invests $14.67 Million in Zillow Group, Inc. (NASDAQ:Z)

Bank of Nova Scotia bought a new stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 198,037 shares of the financial services provider's stock, valued at approximately $14,665,000. Bank of Nova Scotia owned about 0.08% of Zillow Group at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in Z. National Bank of Canada FI acquired a new stake in Zillow Group in the 4th quarter worth approximately $55,000. Assetmark Inc. grew its holdings in Zillow Group by 7,410.0% during the 4th quarter. Assetmark Inc. now owns 751 shares of the financial services provider's stock worth $56,000 after acquiring an additional 741 shares during the period. Blue Trust Inc. lifted its stake in Zillow Group by 17.5% in the fourth quarter. Blue Trust Inc. now owns 922 shares of the financial services provider's stock valued at $68,000 after buying an additional 137 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Zillow Group by 53.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider's stock valued at $79,000 after buying an additional 367 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Zillow Group by 86.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,250 shares of the financial services provider's stock worth $94,000 after acquiring an additional 579 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zillow Group

In other news, insider Errol G. Samuelson sold 6,967 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $541,475.24. Following the sale, the insider now directly owns 127,467 shares of the company's stock, valued at approximately $9,906,735.24. This represents a 5.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jun Choo sold 1,277 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $99,248.44. Following the sale, the chief operating officer now directly owns 86,853 shares of the company's stock, valued at $6,750,215.16. This represents a 1.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 98,919 shares of company stock valued at $7,869,478. Corporate insiders own 23.76% of the company's stock.

Zillow Group Price Performance

Zillow Group stock traded down $0.85 during mid-day trading on Wednesday, reaching $63.24. 537,394 shares of the company traded hands, compared to its average volume of 3,373,824. The firm's fifty day moving average is $72.55 and its two-hundred day moving average is $73.16. The company has a market capitalization of $15.34 billion, a price-to-earnings ratio of -134.55, a price-to-earnings-growth ratio of 9.24 and a beta of 2.19. Zillow Group, Inc. has a fifty-two week low of $38.45 and a fifty-two week high of $89.39.

Zillow Group (NASDAQ:Z - Get Free Report) last released its earnings results 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%. As a group, equities research analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on Z. Baird R W upgraded Zillow Group to a "hold" rating in a research report on Friday, January 31st. KeyCorp raised Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Sunday, February 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods started coverage on shares of Zillow Group in a research note on Friday, March 28th. They set a "market perform" rating and a $80.00 target price for the company. Finally, Morgan Stanley upped their target price 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. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $81.71.

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.