Mirae Asset Global Investments Co. Ltd. Buys 17,051 Shares of Zillow Group, Inc. $Z

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 717.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 19,427 shares of the financial services provider’s stock after purchasing an additional 17,051 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Zillow Group were worth $1,497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Eminence Capital LP boosted its stake in shares of Zillow Group by 63.6% in the 2nd quarter. Eminence Capital LP now owns 3,978,731 shares of the financial services provider’s stock valued at $278,710,000 after purchasing an additional 1,546,577 shares during the last quarter. Holocene Advisors LP acquired a new position in Zillow Group in the second quarter valued at $57,021,000. Norges Bank acquired a new position in Zillow Group in the second quarter valued at $29,174,000. Vanguard Group Inc. boosted its position in Zillow Group by 1.8% during the second quarter. Vanguard Group Inc. now owns 23,002,526 shares of the financial services provider’s stock valued at $1,611,327,000 after acquiring an additional 412,571 shares during the last quarter. Finally, Atreides Management LP grew its holdings in Zillow Group by 82.5% during the 2nd quarter. Atreides Management LP now owns 856,008 shares of the financial services provider’s stock worth $59,963,000 after acquiring an additional 386,947 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeremy Wacksman sold 10,855 shares of Zillow Group stock in a transaction on Friday, November 14th. The shares were sold at an average price of $69.99, for a total value of $759,741.45. Following the completion of the sale, the chief executive officer owned 134,712 shares of the company’s stock, valued at approximately $9,428,492.88. This trade represents a 7.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Errol G. Samuelson sold 7,641 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $71.13, for a total transaction of $543,504.33. Following the sale, the insider owned 120,815 shares of the company’s stock, valued at $8,593,570.95. This trade represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 67,511 shares of company stock worth $4,766,357 over the last quarter. Corporate insiders own 25.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Zillow Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. BNP Paribas Exane raised Zillow Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Finally, Exane BNP Paribas upgraded shares of Zillow Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and an average target price of $93.83.

Zillow Group Stock Performance

Shares of NASDAQ:Z opened at $56.54 on Thursday. Zillow Group, Inc. has a 52-week low of $55.83 and a 52-week high of $93.88. The business’s 50 day simple moving average is $68.99 and its two-hundred day simple moving average is $75.33. The firm has a market cap of $13.69 billion, a P/E ratio of -403.83, a PEG ratio of 3.42 and a beta of 2.08.

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.