Edgestream Partners L.P. Buys Shares of 16,153 Zillow Group, Inc. (NASDAQ:Z)

Edgestream Partners L.P. bought a new stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 16,153 shares of the financial services provider's stock, valued at approximately $1,107,000.

Several other institutional investors also recently bought and sold shares of Z. GAMMA Investing LLC grew its position in shares of 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 buying an additional 196 shares in the last quarter. National Bank of Canada FI purchased a new stake in Zillow Group in the fourth quarter valued at approximately $55,000. Natixis purchased a new stake in Zillow Group in the fourth quarter valued at approximately $80,000. Point72 Hong Kong Ltd purchased a new stake in Zillow Group in the fourth quarter valued at approximately $119,000. Finally, Parallel Advisors LLC increased its holdings 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 valued at $115,000 after purchasing an additional 984 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Bradley D. Owens sold 3,466 shares of Zillow Group stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.96, for a total value of $239,015.36. Following the completion of the transaction, the general counsel owned 47,215 shares in the company, valued at approximately $3,255,946.40. This trade represents a 6.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Erik C. Blachford sold 965 shares of Zillow Group stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $70.35, for a total value of $67,887.75. Following the completion of the transaction, the director owned 35,474 shares of the company's stock, valued at approximately $2,495,595.90. The trade was a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,093 shares of company stock worth $6,989,688 over the last quarter. Corporate insiders own 25.03% of the company's stock.

Analysts Set New Price Targets

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

Zillow Group Stock Performance

Shares of NASDAQ:Z traded down $0.14 during mid-day trading on Friday, hitting $77.46. 2,342,713 shares of the company traded hands, compared to its average volume of 2,963,749. The firm has a market cap of $18.70 billion, a P/E ratio of -227.82, a PEG ratio of 14.31 and a beta of 2.11. Zillow Group, Inc. has a 52-week low of $41.67 and a 52-week high of $89.39. The firm's 50 day simple moving average is $70.51 and its 200 day simple moving average is $71.99.

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.