Advisor Group Inc. boosted its stake in Zillow Group, Inc. (NASDAQ:Z) by 574.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,708 shares of the financial services provider’s stock after buying an additional 3,158 shares during the quarter. Advisor Group Inc.’s holdings in Zillow Group were worth $152,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. VGI PARTNERS PTY Ltd grew its stake in Zillow Group by 27.0% in the 4th quarter. VGI PARTNERS PTY Ltd now owns 1,646,226 shares of the financial services provider’s stock valued at $67,364,000 after purchasing an additional 350,081 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in Zillow Group in the 4th quarter valued at $25,636,000. Coatue Management LLC bought a new position in Zillow Group in the 4th quarter valued at $13,807,000. Landscape Capital Management L.L.C. bought a new position in Zillow Group in the 4th quarter valued at $523,000. Finally, Amalgamated Bank grew its stake in Zillow Group by 8.8% in the 4th quarter. Amalgamated Bank now owns 21,333 shares of the financial services provider’s stock valued at $873,000 after purchasing an additional 1,726 shares during the period. 58.58% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on Z shares. Morgan Stanley upgraded Zillow Group from an “equal weight” rating to an “overweight” rating and set a $50.00 price objective for the company in a research note on Wednesday, January 10th. BidaskClub downgraded Zillow Group from a “hold” rating to a “sell” rating in a research note on Saturday, December 30th. KeyCorp restated an “overweight” rating and issued a $65.00 price objective (up previously from $54.00) on shares of Zillow Group in a research note on Thursday, March 15th. Cowen reiterated a “hold” rating on shares of Zillow Group in a research note on Friday, February 9th. Finally, DA Davidson began coverage on Zillow Group in a research note on Wednesday, April 4th. They set a “hold” rating and a $60.00 price target for the company. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $53.39.
Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter. The business had revenue of $282.33 million for the quarter. Zillow Group had a positive return on equity of 0.03% and a negative net margin of 8.77%.
In related news, CTO David A. Beitel sold 4,666 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $47.24, for a total transaction of $220,421.84. Following the transaction, the chief technology officer now directly owns 31,408 shares of the company’s stock, valued at approximately $1,483,713.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Spencer M. Rascoff sold 58,050 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $44.64, for a total value of $2,591,352.00. Following the transaction, the chief executive officer now directly owns 70,050 shares in the company, valued at $3,127,032. The disclosure for this sale can be found here. In the last ninety days, insiders sold 489,778 shares of company stock worth $25,026,148. Insiders own 21.72% of the company’s stock.
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About Zillow Group
Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable consumers find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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