American Assets Investment Management LLC Invests $468,000 in Zillow Group, Inc. (NASDAQ:Z)

Key Points

• American Assets Investment Management LLC has acquired a new position in Zillow Group, Inc., purchasing 6,808 shares valued at approximately $468,000 during the first quarter.
• Several institutional investors have also increased their stakes in Zillow, with IFP Advisors Inc and Parallel Advisors LLC growing their holdings by 288.9% and 141.8%, respectively.
• Wall Street analysts have mixed ratings on Zillow's stock, with a consensus price target of $83.71 and several firms adjusting their ratings and target prices recently.

American Assets Investment Management LLC bought a new stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,808 shares of the financial services provider's stock, valued at approximately $468,000.

Other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in Zillow Group by 288.9% during the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock worth $31,000 after acquiring an additional 338 shares during the last quarter. GAMMA Investing LLC increased its stake in Zillow Group by 47.7% during the first 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. National Bank of Canada FI acquired a new stake in Zillow Group during the fourth quarter worth about $55,000. Natixis acquired a new stake in Zillow Group during the fourth quarter worth about $80,000. Finally, Parallel Advisors LLC boosted its position in shares of Zillow Group by 141.8% in the first quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock worth $115,000 after buying an additional 984 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on Z. William Blair began coverage on Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating for the company. JPMorgan Chase & Co. reduced their price target on Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Wedbush reissued an "outperform" rating and issued a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. Wells Fargo & Company raised Zillow Group to a "hold" rating in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price target 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. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.71.

Zillow Group Trading Up 0.8%

Z traded up $0.65 during trading hours on Friday, hitting $80.20. The company's stock had a trading volume of 2,186,874 shares, compared to its average volume of 2,267,840. Zillow Group, Inc. has a fifty-two week low of $41.67 and a fifty-two week high of $89.39. The firm has a market capitalization of $19.36 billion, a PE ratio of -235.88, a PEG ratio of 14.69 and a beta of 2.09. The company has a 50-day simple moving average of $72.94 and a 200 day simple moving average of $72.52.

Insider Activity at Zillow Group

In other news, COO Jun Choo sold 11,725 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $68.77, for a total transaction of $806,328.25. Following the completion of the sale, the chief operating officer directly owned 130,186 shares of the company's stock, valued at $8,952,891.22. This trade represents a 8.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeremy Hofmann sold 7,959 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $549,011.82. Following the sale, the chief financial officer directly owned 97,481 shares of the company's stock, valued at approximately $6,724,239.38. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,093 shares of company stock worth $6,989,688 in the last quarter. Company insiders own 25.03% of the company's stock.

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.