Charles Schwab Investment Management Inc. Grows Position in Zillow Group, Inc. (NASDAQ:Z)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Zillow Group by 3.0%, holding approximately 1.58 million shares valued at $108.6 million as of the latest reporting period.
• Insider Dan Spaulding sold 100,000 shares, reducing his ownership by 59.21%, while CEO Jeremy Wacksman also sold shares, indicating notable insider selling activity.
• JPMorgan Chase & Co. has raised its target price for Zillow Group from $79.00 to $94.00 and maintained an "overweight" rating amid positive analyst sentiment towards the stock.

Charles Schwab Investment Management Inc. grew its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,584,537 shares of the financial services provider's stock after purchasing an additional 45,828 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.65% of Zillow Group worth $108,636,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Zillow Group by 7.8% during the first quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider's stock worth $1,548,767,000 after acquiring an additional 1,628,577 shares during the period. Ninety One UK Ltd boosted its position in Zillow Group by 11.4% during the first quarter. Ninety One UK Ltd now owns 4,029,503 shares of the financial services provider's stock worth $276,263,000 after purchasing an additional 411,742 shares in the last quarter. Dorsal Capital Management LP boosted its position in Zillow Group by 4.7% during the fourth quarter. Dorsal Capital Management LP now owns 3,350,000 shares of the financial services provider's stock worth $248,068,000 after purchasing an additional 150,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Zillow Group by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,540,831 shares of the financial services provider's stock worth $114,109,000 after purchasing an additional 65,724 shares in the last quarter. Finally, Altimeter Capital Management LP boosted its position in Zillow Group by 52.0% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analyst Weigh In

Z has been the topic of a number of research analyst reports. Zelman & Associates reiterated a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. JPMorgan Chase & Co. increased their price objective on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Keefe, Bruyette & Woods decreased their price objective on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company raised Zillow Group to a "hold" rating in a research note on Monday, April 28th. Finally, Bank of America increased their price objective on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $88.29.

Zillow Group Price Performance

NASDAQ:Z traded up $4.67 during mid-day trading on Wednesday, reaching $84.84. The company's stock had a trading volume of 4,995,004 shares, compared to its average volume of 2,668,503. The company's fifty day simple moving average is $75.36 and its two-hundred day simple moving average is $72.77. Zillow Group, Inc. has a twelve month low of $51.94 and a twelve month high of $89.39. The stock has a market cap of $20.48 billion, a P/E ratio of -326.31, a P/E/G ratio of 13.02 and a beta of 2.09.

Insider Transactions at Zillow Group

In other Zillow Group news, Director April Underwood sold 595 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $86.01, for a total value of $51,175.95. Following the sale, the director directly owned 725 shares of the company's stock, valued at approximately $62,357.25. This trade represents a 45.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jun Choo sold 45,710 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $85.21, for a total value of $3,894,949.10. Following the completion of the sale, the chief operating officer directly owned 117,098 shares in the company, valued at approximately $9,977,920.58. The trade was a 28.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,713 shares of company stock worth $16,197,138 in the last quarter. 25.03% of the stock is currently owned by corporate insiders.

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.