Cookson Peirce & Co. Inc. Takes $787,000 Position in Zillow Group, Inc. $Z

Key Points

• Cookson Peirce & Co. Inc. acquired 11,485 shares of Zillow Group, Inc. valued at approximately $787,000 during the first quarter, highlighting ongoing institutional interest in the stock.
• Notable recent analyst updates include JPMorgan Chase & Co. raising their price target from $79 to $94, while the average target price for Zillow Group is now $88.29, reflecting a cautious yet positive outlook.
• Insider transactions show significant selling activity, with Zillow's CAO recently selling 5,177 shares for over $428,000, as insider ownership remains at 25.03%.

Cookson Peirce & Co. Inc. acquired a new position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,485 shares of the financial services provider's stock, valued at approximately $787,000.

Several other large investors also recently made changes to their positions in Z. IFP Advisors Inc raised its stake in Zillow Group by 288.9% in the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock worth $31,000 after purchasing an additional 338 shares in the last quarter. National Pension Service grew its holdings in shares of Zillow Group by 74.8% during the 1st quarter. National Pension Service now owns 577 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 247 shares during the last quarter. GAMMA Investing LLC grew its holdings in Zillow Group by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock worth $42,000 after acquiring an additional 196 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Zillow Group during the 1st quarter worth approximately $49,000. Finally, Natixis bought a new stake in shares of Zillow Group in the 4th quarter valued at $80,000. Institutional investors own 71.01% of the company's stock.

Zillow Group Stock Down 0.2%

Z traded down $0.16 during trading on Friday, hitting $85.11. The company's stock had a trading volume of 2,391,941 shares, compared to its average volume of 2,928,665. The firm's 50 day moving average price is $75.96 and its two-hundred day moving average price is $72.66. Zillow Group, Inc. has a 12 month low of $52.45 and a 12 month high of $89.39. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of -327.35, a price-to-earnings-growth ratio of 16.03 and a beta of 2.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on Z shares. JPMorgan Chase & Co. increased their target price on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Wedbush restated an "outperform" rating and issued a $100.00 price objective on shares of Zillow Group in a report on Monday, May 5th. William Blair started coverage on Zillow Group in a research report on Monday, April 21st. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Finally, Wells Fargo & Company raised Zillow Group to a "hold" rating in a research note on Monday, April 28th. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $88.29.

Insider Activity at Zillow Group

In other news, COO Jun Choo sold 45,710 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.21, for a total transaction of $3,894,949.10. Following the transaction, the chief operating officer owned 117,098 shares in the company, valued at approximately $9,977,920.58. This trade represents a 28.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeremy Hofmann sold 8,168 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.35, for a total value of $697,138.80. Following the sale, the chief financial officer directly owned 84,146 shares in the company, valued at $7,181,861.10. This represents a 8.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,379 shares of company stock valued at $19,483,729 over the last ninety days. Company insiders own 23.76% of the company's stock.

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.