Great Lakes Advisors LLC Invests $6.08 Million in Zillow Group, Inc. $Z

Key Points

• Great Lakes Advisors LLC acquired 88,709 shares of Zillow Group, Inc. valued at approximately $6,082,000, marking significant institutional investment in the company.
• In the most recent quarter, several large investors including IFP Advisors Inc and National Pension Service significantly increased their stakes in Zillow Group, showing growing confidence in the stock.
• Zillow Group's stock is currently rated as a “Moderate Buy” with a consensus target price of $88.29, as analysts have adjusted their expectations upward.

Great Lakes Advisors LLC acquired a new position in Zillow Group, Inc. (NASDAQ:Z - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 88,709 shares of the financial services provider's stock, valued at approximately $6,082,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IFP Advisors Inc boosted its position in Zillow Group by 288.9% during the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 338 shares in the last quarter. National Pension Service boosted its position in 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 acquiring an additional 247 shares in the last quarter. GAMMA Investing LLC boosted its position in Zillow Group by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 196 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Zillow Group during the 1st quarter valued at $49,000. Finally, Point72 Hong Kong Ltd bought a new stake in Zillow Group during the 4th quarter valued at $119,000. Institutional investors own 71.01% of the company's stock.

Zillow Group Trading Down 1.2%

NASDAQ:Z traded down $1.02 during trading hours on Monday, hitting $86.76. The company's stock had a trading volume of 646,603 shares, compared to its average volume of 2,647,738. The stock has a fifty day moving average of $82.05 and a 200-day moving average of $73.25. The stock has a market capitalization of $21.02 billion, a P/E ratio of -334.71, a price-to-earnings-growth ratio of 24.44 and a beta of 2.04. Zillow Group, Inc. has a 52-week low of $57.00 and a 52-week high of $91.93.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Zillow Group

In related news, Director Erik C. Blachford sold 966 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $81.91, for a total value of $79,125.06. Following the completion of the sale, the director owned 34,508 shares in the company, valued at $2,826,550.28. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jun Choo sold 25,575 shares of Zillow Group stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $91.06, for a total transaction of $2,328,859.50. Following the sale, the chief operating officer owned 114,129 shares of the company's stock, valued at approximately $10,392,586.74. The trade was a 18.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 657,087 shares of company stock valued at $56,286,479 over the last 90 days. 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.