Armstrong Fleming & Moore Inc Acquires New Stake in Zillow Group, Inc. $Z

Key Points

• Armstrong Fleming & Moore Inc acquired a new stake in Zillow Group, Inc., purchasing 3,754 shares valued at approximately $263,000 during the second quarter.
• Insiders have been selling substantial amounts of Zillow's stock, including the CFO and CTO, who sold shares valued at over $4 million combined.
• Zillow Group currently has an average rating of "Moderate Buy" from analysts, with a target price of $90.38, while some have upgraded it to a "strong-buy" rating recently.

Armstrong Fleming & Moore Inc bought a new position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,754 shares of the financial services provider's stock, valued at approximately $263,000.

Other large investors have also bought and sold shares of the company. Jump Financial LLC purchased a new position in Zillow Group in the 1st quarter worth approximately $334,000. American Assets Investment Management LLC purchased a new stake in Zillow Group in the first quarter worth about $468,000. Alberta Investment Management Corp purchased a new position in shares of Zillow Group in the 1st quarter valued at approximately $3,661,000. Cerity Partners LLC boosted its position in Zillow Group by 67.0% in the 1st quarter. Cerity Partners LLC now owns 20,475 shares of the financial services provider's stock worth $1,404,000 after purchasing an additional 8,215 shares in the last quarter. Finally, G&S Capital LLC lifted its position in shares of Zillow Group by 132.2% during the 1st quarter. G&S Capital LLC now owns 33,933 shares of the financial services provider's stock valued at $2,326,000 after buying an additional 19,319 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Price Performance

Z opened at $71.46 on Thursday. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of -274.85, a P/E/G ratio of 24.87 and a beta of 2.13. The business's 50-day moving average price is $82.74 and its two-hundred day moving average price is $74.18. Zillow Group, Inc. has a 1 year low of $57.00 and a 1 year high of $93.88.

Wall Street Analysts Forecast Growth

Z has been the subject of a number of research analyst reports. Gordon Haskett upgraded Zillow Group to a "strong-buy" rating in a report on Friday, October 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zillow Group in a research report on Wednesday. Sanford C. Bernstein upgraded Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 target price for the company in a research note on Wednesday, September 17th. 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 note on Thursday, August 7th. Finally, Mizuho raised Zillow Group to a "strong-buy" rating in a report on Monday, September 29th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Zillow Group presently has an average rating of "Moderate Buy" and an average target price of $90.38.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 25,000 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $89.99, for a total value of $2,249,750.00. Following the completion of the sale, the chief financial officer directly owned 84,146 shares of the company's stock, valued at approximately $7,572,298.54. This represents a 22.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO David A. Beitel sold 22,510 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $90.97, for a total transaction of $2,047,734.70. Following the completion of the transaction, the chief technology officer directly owned 144,549 shares of the company's stock, valued at approximately $13,149,622.53. This trade represents a 13.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 657,087 shares of company stock valued at $56,286,479. 25.03% of the stock is currently owned by insiders.

Zillow Group Company 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.

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