AGF Management Ltd. Buys 11,363 Shares of Zillow Group, Inc. (NASDAQ:Z)

Key Points

• AGF Management Ltd. increased its ownership in Zillow Group, Inc. by 7.8% during the first quarter, now holding approximately $10.7 million in stock.
• Institutional investors own 71.01% of Zillow Group shares, indicating strong institutional interest in the company.
• Analysts have set a wide range of price targets for Zillow Group, with averages suggesting a target of $88.29 per share amidst varied ratings from different brokerages.

AGF Management Ltd. raised its position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 156,710 shares of the financial services provider's stock after purchasing an additional 11,363 shares during the quarter. AGF Management Ltd. owned about 0.06% of Zillow Group worth $10,744,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in shares of 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 during the last quarter. GAMMA Investing LLC lifted its position in shares of 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 during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Zillow Group during the 1st quarter valued at $49,000. Natixis acquired a new stake in shares of Zillow Group during the 4th quarter valued at $80,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Zillow Group during the 4th quarter valued at $119,000. 71.01% of the stock is owned by institutional investors.

Zillow Group Trading Up 5.8%

Z stock traded up $4.67 during trading on Wednesday, reaching $84.84. 4,995,004 shares of the stock were exchanged, compared to its average volume of 2,668,503. Zillow Group, Inc. has a twelve month low of $51.94 and a twelve month high of $89.39. The company has a market capitalization of $20.48 billion, a P/E ratio of -326.31, a price-to-earnings-growth ratio of 13.02 and a beta of 2.09. The stock has a 50 day simple moving average of $75.36 and a 200-day simple moving average of $72.77.

Insider Activity at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 5,177 shares of Zillow Group stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $82.69, for a total transaction of $428,086.13. Following the sale, the chief accounting officer directly owned 50,301 shares of the company's stock, valued at approximately $4,159,389.69. The trade was a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gordon Sheridan Stephenson sold 6,835 shares of Zillow Group stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $82.08, for a total value of $561,016.80. Following the sale, the director directly owned 28,290 shares in the company, valued at $2,322,043.20. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,713 shares of company stock valued at $16,197,138. Corporate insiders own 25.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on Z. Wedbush restated an "outperform" rating and issued a $100.00 target price on shares of Zillow Group in a report on Monday, May 5th. William Blair began coverage on Zillow Group in a report on Monday, April 21st. They issued a "market perform" rating for the company. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods reduced their target price on 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, Bank of America increased their price objective on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Nine investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $88.29.

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.