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American Assets Investment Management LLC Takes Position in Zillow Group, Inc. (NASDAQ:Z)

Zillow Group logo with Computer and Technology background

Key Points

  • American Assets Investment Management LLC acquired 6,808 shares of Zillow Group, valued at approximately $468,000, indicating confidence in the financial services provider.
  • Institutional investors and hedge funds hold 71.01% of Zillow Group's stock, reflecting significant institutional interest in the company.
  • The stock price of Zillow Group recently traded up 4.3%, with analysts setting a consensus price target of $83.71 for the shares, indicating a moderate buy rating from eight analysts.
  • Interested in Zillow Group? Here are five stocks we like better.

American Assets Investment Management LLC acquired a new position in Zillow Group, Inc. (NASDAQ:Z - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,808 shares of the financial services provider's stock, valued at approximately $468,000.

A number of other institutional investors have also recently made changes to their positions in Z. Ninety One UK Ltd grew its stake in Zillow Group by 11.4% during the 1st quarter. Ninety One UK Ltd now owns 4,029,503 shares of the financial services provider's stock valued at $276,263,000 after purchasing an additional 411,742 shares during the last quarter. Dorsal Capital Management LP lifted its holdings in shares of Zillow Group by 4.7% in the 4th quarter. Dorsal Capital Management LP now owns 3,350,000 shares of the financial services provider's stock valued at $248,068,000 after buying an additional 150,000 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Zillow Group by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,878,124 shares of the financial services provider's stock valued at $212,745,000 after buying an additional 28,728 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Zillow Group by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,540,831 shares of the financial services provider's stock valued at $114,109,000 after buying an additional 65,724 shares during the period. Finally, Altimeter Capital Management LP raised its holdings in Zillow Group by 52.0% in the 4th quarter. Altimeter Capital Management LP now owns 1,300,738 shares of the financial services provider's stock worth $96,320,000 after purchasing an additional 445,158 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Zillow Group Trading Up 4.3%

Z stock opened at $83.65 on Tuesday. Zillow Group, Inc. has a 1 year low of $41.67 and a 1 year high of $89.39. The firm has a market cap of $20.20 billion, a PE ratio of -246.03, a PEG ratio of 14.81 and a beta of 2.09. The company has a fifty day simple moving average of $73.29 and a 200 day simple moving average of $72.51.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on Z shares. Keefe, Bruyette & Woods dropped their price target on Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. William Blair assumed coverage on Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating for the company. Wedbush restated an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a research note on Monday, May 5th. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. reduced their price objective on Zillow Group from $93.00 to $79.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $83.71.

View Our Latest Report on Z

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 5,534 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $381,735.32. Following the sale, the insider directly owned 68,889 shares in the company, valued at approximately $4,751,963.22. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Erik C. Blachford sold 965 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $70.35, for a total transaction of $67,887.75. Following the completion of the sale, the director owned 35,474 shares in the company, valued at approximately $2,495,595.90. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,093 shares of company stock valued at $6,989,688 over the last three months. Insiders own 23.76% of the company's stock.

Zillow Group Profile

(Free Report)

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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Institutional Ownership by Quarter for Zillow Group (NASDAQ:Z)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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