Kessler Investment Group LLC Increases Position in Zillow Group, Inc. (NASDAQ:Z)

Kessler Investment Group LLC grew its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,458 shares of the financial services provider's stock after purchasing an additional 8,302 shares during the period. Zillow Group makes up 3.2% of Kessler Investment Group LLC's investment portfolio, making the stock its 9th largest holding. Kessler Investment Group LLC's holdings in Zillow Group were worth $6,476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in 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 acquiring an additional 196 shares in the last quarter. National Bank of Canada FI bought a new stake in Zillow Group during the fourth quarter worth about $55,000. Assetmark Inc. boosted its stake in Zillow Group by 7,410.0% during the fourth quarter. Assetmark Inc. now owns 751 shares of the financial services provider's stock worth $56,000 after acquiring an additional 741 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Zillow Group by 53.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider's stock worth $79,000 after acquiring an additional 367 shares in the last quarter. Finally, Natixis purchased a new position in Zillow Group in the fourth quarter worth about $80,000. Institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

Z has been the subject of several recent analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Zillow Group in a report on Monday, May 5th. JPMorgan Chase & Co. cut their target price on shares of Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company upgraded shares of Zillow Group to a "hold" rating in a research report on Monday, April 28th. Keefe, Bruyette & Woods dropped their price target on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Finally, William Blair initiated coverage on shares of Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating for the company. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Zillow Group has a consensus rating of "Moderate Buy" and an average target price of $83.71.

Insider Activity

In other news, CAO Jennifer Rock sold 5,997 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $68.06, for a total value of $408,155.82. Following the sale, the chief accounting officer now owns 58,320 shares of the company's stock, valued at approximately $3,969,259.20. This represents a 9.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Erik C. Blachford sold 965 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $70.35, for a total transaction of $67,887.75. Following the completion of the sale, the director now directly owns 35,474 shares in the company, valued at approximately $2,495,595.90. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,093 shares of company stock valued at $6,989,688. 25.03% of the stock is currently owned by company insiders.

Zillow Group Stock Up 0.8%

Zillow Group stock opened at $69.74 on Friday. The company has a market cap of $16.84 billion, a price-to-earnings ratio of -205.12, a PEG ratio of 12.79 and a beta of 2.12. The firm's fifty day moving average is $67.97 and its 200 day moving average is $72.30. Zillow Group, Inc. has a 52-week low of $41.67 and a 52-week high of $89.39.

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.

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