Emmett Investment Management LP Purchases 39,604 Shares of Zillow Group, Inc. $Z

Key Points

• Emmett Investment Management LP significantly increased its stake in Zillow Group, acquiring an additional 39,604 shares, bringing its total holdings to 78,529 shares, valued at approximately $5.3 million.
• As of the latest reporting period, 71.01% of Zillow Group's stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Recent analyst ratings show a mix of opinions, with targets ranging from $76 to $100 and an average price target of $88.29, reflecting a generally favorable outlook.

Emmett Investment Management LP boosted its position in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 101.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,529 shares of the financial services provider's stock after acquiring an additional 39,604 shares during the period. Zillow Group accounts for 4.9% of Emmett Investment Management LP's portfolio, making the stock its 9th largest position. Emmett Investment Management LP's holdings in Zillow Group were worth $5,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in Z. Envestnet Asset Management Inc. raised its holdings in Zillow Group by 2.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 56,318 shares of the financial services provider's stock worth $4,170,000 after purchasing an additional 1,243 shares during the last quarter. Mariner LLC boosted its stake in shares of Zillow Group by 19.9% in the 4th quarter. Mariner LLC now owns 17,475 shares of the financial services provider's stock valued at $1,294,000 after purchasing an additional 2,897 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Zillow Group by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,540,831 shares of the financial services provider's stock worth $114,109,000 after buying an additional 65,724 shares during the period. First Trust Advisors LP acquired a new stake in shares of Zillow Group during the 4th quarter worth approximately $442,000. Finally, Natixis bought a new stake in shares of Zillow Group during the fourth quarter worth approximately $80,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $83.50 on Wednesday. The firm has a 50-day moving average of $76.49 and a 200-day moving average of $72.75. Zillow Group, Inc. has a 52-week low of $52.86 and a 52-week high of $89.39. The stock has a market cap of $20.23 billion, a PE ratio of -321.15, a PEG ratio of 15.91 and a beta of 2.09.

Insiders Place Their Bets

In other news, CEO Jeremy Wacksman sold 11,275 shares of Zillow Group stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $85.73, for a total value of $966,605.75. Following the completion of the sale, the chief executive officer directly owned 153,113 shares in the company, valued at approximately $13,126,377.49. The trade was a 6.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeremy Hofmann sold 8,168 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $85.35, for a total value of $697,138.80. Following the completion of the sale, the chief financial officer owned 84,146 shares of the company's stock, valued at approximately $7,181,861.10. This trade represents a 8.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 580,379 shares of company stock worth $49,319,729. 23.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

Z has been the topic of a number of recent research reports. Wedbush reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of Zillow Group in a research note on Monday, May 5th. Wells Fargo & Company raised Zillow Group to a "hold" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. raised their price target on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Keefe, Bruyette & Woods cut their target price 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. Finally, Bank of America raised their target price on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of "Hold" and an average target price of $88.29.

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.

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