Invesco Ltd. Acquires 209,614 Shares of Zillow Group, Inc. $Z

Key Points

• Invesco Ltd. increased its holdings in Zillow Group by 71.6%, acquiring an additional 209,614 shares, bringing their total ownership to 502,403 shares valued at approximately $34.4 million.
• Other institutional investors, including Vanguard Group Inc. and Ninety One UK Ltd., also raised their stakes in Zillow Group during the same period, indicating growing interest in the company.
• Zillow Group's stock currently has a market capitalization of $20.40 billion and has been rated as "Hold" by several analysts, with a consensus target price of $88.29.

Invesco Ltd. grew its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 71.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 502,403 shares of the financial services provider's stock after acquiring an additional 209,614 shares during the quarter. Invesco Ltd. owned 0.21% of Zillow Group worth $34,445,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Zillow Group by 7.8% in 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 purchasing an additional 1,628,577 shares during the period. Ninety One UK Ltd lifted its position in Zillow Group by 11.4% in 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 during the period. Dorsal Capital Management LP lifted its position in Zillow Group by 4.7% in 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 during the period. Charles Schwab Investment Management Inc. lifted its position in Zillow Group by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,584,537 shares of the financial services provider's stock worth $108,636,000 after purchasing an additional 45,828 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Zillow Group by 4.5% in 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 during the period. 71.01% of the stock is owned by institutional investors.

Zillow Group Price Performance

NASDAQ:Z opened at $84.50 on Tuesday. Zillow Group, Inc. has a fifty-two week low of $52.86 and a fifty-two week high of $89.39. The stock has a market capitalization of $20.40 billion, a PE ratio of -325.00, a price-to-earnings-growth ratio of 16.03 and a beta of 2.09. The business's 50-day simple moving average is $76.25 and its 200-day simple moving average is $72.67.

Analyst Ratings Changes

Z has been the subject of several recent analyst reports. William Blair initiated coverage on Zillow Group in a research note on Monday, April 21st. They set a "market perform" rating for the company. Bank of America increased their price objective on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods dropped their price objective on Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Finally, Wedbush reiterated an "outperform" rating and set a $100.00 price objective on shares of Zillow Group in a research note on Monday, May 5th. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $88.29.

Insider Transactions at Zillow Group

In other Zillow Group news, Chairman Richard N. Barton sold 150,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.68, for a total transaction of $12,852,000.00. Following the transaction, the chairman owned 2,501,225 shares of the company's stock, valued at $214,304,958. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $85.35, for a total value of $697,138.80. Following the transaction, the chief financial officer directly owned 84,146 shares in the company, valued at $7,181,861.10. This trade represents a 8.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 580,379 shares of company stock worth $49,319,729. Corporate insiders own 25.03% of the company's stock.

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.

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