GM Advisory Group LLC Buys Shares of 92,725 Zillow Group, Inc. $Z

Key Points

• GM Advisory Group LLC initiated a new position in Zillow Group, buying 92,725 shares worth about $3.84 million in the first quarter.
• Several other institutional investors also added to or increased their Zillow holdings, and institutions now own 71.01% of the company’s stock.
• Insider selling continued, with CEO Jeremy Wacksman and other insiders trimming shares; Zillow also reported earnings that beat estimates, while analysts currently rate the stock a Moderate Buy with an average target price of $76.

GM Advisory Group LLC bought a new stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 92,725 shares of the financial services provider's stock, valued at approximately $3,837,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in Z. Doliver Advisors LP increased its stake in Zillow Group by 1.8% in the fourth quarter. Doliver Advisors LP now owns 9,687 shares of the financial services provider's stock valued at $661,000 after acquiring an additional 171 shares during the last quarter. Empowered Funds LLC lifted its stake in Zillow Group by 4.7% during the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider's stock worth $262,000 after purchasing an additional 171 shares during the last quarter. GAMMA Investing LLC lifted its stake in Zillow Group by 21.4% during the fourth quarter. GAMMA Investing LLC now owns 1,186 shares of the financial services provider's stock worth $81,000 after purchasing an additional 209 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Zillow Group by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 7,550 shares of the financial services provider's stock valued at $515,000 after purchasing an additional 220 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Zillow Group by 6.9% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 3,923 shares of the financial services provider's stock valued at $268,000 after purchasing an additional 252 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Insider Activity at Zillow Group

In other news, CEO Jeremy Wacksman sold 9,072 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the transaction, the chief executive officer directly owned 153,699 shares in the company, valued at $5,616,161.46. This trade represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Errol G. Samuelson sold 2,939 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total value of $111,593.83. Following the completion of the sale, the insider owned 134,039 shares in the company, valued at $5,089,460.83. The trade was a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 42,910 shares of company stock valued at $1,605,732 over the last ninety days. Insiders own 25.03% of the company's stock.

Zillow Group Price Performance

NASDAQ Z opened at $33.43 on Friday. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 133.72, a PEG ratio of 1.43 and a beta of 1.98. Zillow Group, Inc. has a twelve month low of $29.23 and a twelve month high of $93.88. The stock has a fifty day simple moving average of $36.41 and a 200 day simple moving average of $47.72.

Zillow Group (NASDAQ:Z - Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.10 million. Research analysts expect that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on Z shares. JPMorgan Chase & Co. lowered their price target on Zillow Group from $84.00 to $76.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada reduced their price objective on Zillow Group from $95.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft decreased their target price on Zillow Group from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Keefe, Bruyette & Woods lowered their target price on Zillow Group from $60.00 to $50.00 and set a "market perform" rating for the company in a research note on Thursday, May 7th. Finally, UBS Group dropped their target price on shares of Zillow Group from $80.00 to $75.00 and set a "buy" rating for the company in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.00.

Zillow Group Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company's platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company's automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.

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