6,411 Shares in Zillow Group, Inc. $Z Purchased by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC acquired 6,411 shares of Zillow Group, Inc. valued at approximately $440,000 in the first quarter, adding to a trend of increased institutional investment in the company.
• Shares of Zillow have shown significant movement, with a 52-week low of $55.46 and a high of $91.93, opening at $89.27 recently.
• Analysts have upgraded Zillow Group's stock ratings, with JPMorgan raising the price target from $79.00 to $94.00 and a consensus rating of "Moderate Buy" with a target price of $88.29.

SCS Capital Management LLC bought 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 disclosure with the SEC. The fund bought 6,411 shares of the financial services provider's stock, valued at approximately $440,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ethic Inc. boosted its holdings in Zillow Group by 13.3% in the 4th quarter. Ethic Inc. now owns 8,827 shares of the financial services provider's stock valued at $654,000 after purchasing an additional 1,037 shares during the period. Ensign Peak Advisors Inc boosted its holdings in Zillow Group by 9.4% in the 4th quarter. Ensign Peak Advisors Inc now owns 58,258 shares of the financial services provider's stock valued at $4,314,000 after purchasing an additional 5,000 shares during the period. Gotham Asset Management LLC bought a new stake in Zillow Group in the 4th quarter valued at about $442,000. NorthRock Partners LLC bought a new stake in Zillow Group in the 4th quarter valued at about $437,000. Finally, Nomura Holdings Inc. boosted its holdings in Zillow Group by 254.6% in the 4th quarter. Nomura Holdings Inc. now owns 38,460 shares of the financial services provider's stock valued at $2,848,000 after purchasing an additional 27,613 shares during the period. Institutional investors own 71.01% of the company's stock.

Zillow Group Stock Performance

Shares of NASDAQ:Z opened at $89.27 on Friday. The business's 50 day simple moving average is $81.74 and its two-hundred day simple moving average is $73.23. The firm has a market cap of $21.63 billion, a P/E ratio of -343.35, a PEG ratio of 8.98 and a beta of 2.04. Zillow Group, Inc. has a 52-week low of $55.46 and a 52-week high of $91.93.

Insiders Place Their Bets

In other Zillow Group 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 value 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 represents a 28.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 25,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $89.99, for a total value of $2,249,750.00. Following the completion of the transaction, the chief financial officer owned 84,146 shares in the company, valued at approximately $7,572,298.54. The trade was a 22.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 657,087 shares of company stock valued at $56,286,479. 25.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on Z shares. JPMorgan Chase & Co. boosted their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Bank of America boosted their price objective on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.29.

About Zillow Group

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.

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