Dynamic Technology Lab Private Ltd bought a new stake in Zillow Group, Inc. (NASDAQ:Z – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,250 shares of the financial services provider’s stock, valued at approximately $1,177,000.
A number of other institutional investors also recently bought and sold shares of Z. Empowered Funds LLC lifted its holdings in Zillow Group by 4.7% in the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 171 shares during the period. Intech Investment Management LLC lifted its holdings in Zillow Group by 21.7% in the first quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock valued at $1,407,000 after acquiring an additional 3,653 shares during the period. American Century Companies Inc. lifted its holdings in Zillow Group by 1.6% in the second quarter. American Century Companies Inc. now owns 23,064 shares of the financial services provider’s stock valued at $1,616,000 after acquiring an additional 362 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Zillow Group by 186.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 1,092 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Zillow Group by 1,895.4% in the second quarter. First Trust Advisors LP now owns 128,362 shares of the financial services provider’s stock valued at $8,992,000 after acquiring an additional 121,929 shares during the period. Institutional investors own 71.01% of the company’s stock.
Zillow Group Stock Down 2.0%
NASDAQ Z opened at $32.03 on Friday. The stock’s 50-day moving average price is $39.70 and its 200-day moving average price is $52.17. Zillow Group, Inc. has a 52 week low of $31.49 and a 52 week high of $93.88. The company has a market capitalization of $7.33 billion, a P/E ratio of 128.12, a price-to-earnings-growth ratio of 1.40 and a beta of 1.97.
Insider Activity
In related news, CFO Jeremy Hofmann sold 5,501 shares of the stock in a transaction dated 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 trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 stock was sold at an average price of $36.54, for a total value of $331,490.88. Following the sale, the chief executive officer owned 153,699 shares of the company’s stock, valued at $5,616,161.46. This represents a 5.57% decrease in their position. The SEC filing for this sale provides additional information. 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 in the last three months. 25.03% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on Z shares. Zacks Research downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Keefe, Bruyette & Woods decreased their price objective on Zillow Group from $60.00 to $50.00 and set a “market perform” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen raised Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. decreased their price objective on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, UBS Group decreased their price objective on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $76.00.
Get Our Latest Stock Report on Z
Zillow Group Profile
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.
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