Zillow Inc (NASDAQ:Z) was in 10 hedge funds’ portfolio at the end of December. Z has experienced a decrease in support from the world’s most elite money managers lately. There were 18 hedge funds in our database with Z positions at the end of the previous quarter.
To the average investor, there are tons of metrics market participants can use to monitor Mr. Market. A pair of the most innovative are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite money managers can trounce their index-focused peers by a solid margin (see just how much).
Equally as beneficial, positive insider trading sentiment is another way to parse down the investments you’re interested in. Obviously, there are plenty of incentives for an upper level exec to sell shares of his or her company, but only one, very simple reason why they would initiate a purchase. Several academic studies have demonstrated the impressive potential of this strategy if you know what to do (learn more here).
Consequently, let’s take a glance at the key action regarding Zillow Inc (NASDAQ:Z).
How have hedgies been trading Zillow Inc (NASDAQ:Z)?
In preparation for this year, a total of 10 of the hedge funds we track were bullish in this stock, a change of -44% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were boosting their stakes substantially.
Of the funds we track, Citadel Investment Group, managed by Ken Griffin, holds the biggest position in Zillow Inc (NASDAQ:Z). Citadel Investment Group has a $40.7 million position in the stock, comprising 0.1% of its 13F portfolio. On Citadel Investment Group’s heels is Paul Reeder and Edward Shapiro of PAR Capital Management, with a $22.6 million position; the fund has 1% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include David Gallo’s Valinor Management LLC, and Chase Coleman and Feroz Dewan’s Tiger Global Management LLC.
Due to the fact that Zillow Inc (NASDAQ:Z) has faced bearish sentiment from the entirety of the hedge funds we track, logic holds that there exists a select few funds who were dropping their entire stakes in Q4. It’s worth mentioning that Donald Chiboucis’s Columbus Circle Investors cut the largest investment of all the hedgies we track, comprising an estimated $34.9 million in stock., and SAC Subsidiary of Sigma Capital Management was right behind this move, as the fund dumped about $23.5 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest was cut by 8 funds in Q4.
How have insiders been trading Zillow Inc (NASDAQ:Z)?
Insider buying is best served when the company we’re looking at has seen transactions within the past six months. Over the last half-year time frame, Zillow Inc (NASDAQ:Z) has seen zero unique insiders purchasing, and 9 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Zillow Inc (NASDAQ:Z). These stocks are Portfolio Recovery Associates, Inc. (NASDAQ:PRAA), Fair Isaac Corporation (NYSE:FICO), Deluxe Corporation (NYSE:DLX), Healthcare Services Group, Inc. (NASDAQ:HCSG), and The Advisory Board Company (NASDAQ:ABCO). This group of stocks are in the business services industry and their market caps match Z’s market cap.