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Koss Olinger Consulting LLC Makes New Investment in Zillow Group, Inc. (NASDAQ:Z)

Zillow Group logo with Computer and Technology background

Key Points

  • Koss Olinger Consulting LLC has acquired 7,048 shares of Zillow Group, Inc., investing approximately $483,000 in the company during the first quarter.
  • Institutional investors now own 71.01% of Zillow Group's stock, with Vanguard Group increasing its stake by 7.8%.
  • As of May, Zillow Group has an average analyst rating of "Hold" and a target price of $88.29, reflecting mixed sentiment from market analysts.
  • Need Better Tools to Track Zillow Group? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Koss Olinger Consulting LLC purchased a new position in Zillow Group, Inc. (NASDAQ:Z - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,048 shares of the financial services provider's stock, valued at approximately $483,000.

Several other institutional investors have also modified their holdings of Z. Vanguard Group Inc. grew its stake in shares of Zillow Group by 7.8% during 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 in the last quarter. Caxton Associates LP acquired a new position in shares of Zillow Group during the fourth quarter worth $51,835,000. Castle Hook Partners LP acquired a new position in shares of Zillow Group during the fourth quarter worth $49,887,000. Polar Capital Holdings Plc acquired a new position in shares of Zillow Group during the fourth quarter worth $33,504,000. Finally, Altimeter Capital Management LP grew its stake in shares of Zillow Group by 52.0% during the fourth quarter. Altimeter Capital Management LP now owns 1,300,738 shares of the financial services provider's stock worth $96,320,000 after purchasing an additional 445,158 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. William Blair assumed coverage on shares of Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating for the company. Zelman & Associates reissued a "neutral" rating on shares of Zillow Group in a research report on Friday. Wells Fargo & Company raised shares of Zillow Group to a "hold" rating in a research report on Monday, April 28th. Wedbush reissued an "outperform" rating and issued a $100.00 price target on shares of Zillow Group in a research report on Monday, May 5th. Finally, Keefe, Bruyette & Woods reduced 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. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $88.29.

Get Our Latest Analysis on Zillow Group

Insiders Place Their Bets

In other news, CFO Jeremy Hofmann sold 7,959 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $549,011.82. Following the sale, the chief financial officer directly owned 97,481 shares in the company, valued at $6,724,239.38. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dan Spaulding sold 5,534 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $381,735.32. Following the sale, the insider owned 68,889 shares in the company, valued at approximately $4,751,963.22. This trade represents a 7.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,371 shares of company stock valued at $5,775,204. Corporate insiders own 25.03% of the company's stock.

Zillow Group Stock Down 4.4%

NASDAQ Z opened at $80.92 on Friday. The stock has a market capitalization of $19.54 billion, a P/E ratio of -311.23, a P/E/G ratio of 14.95 and a beta of 2.09. Zillow Group, Inc. has a 52-week low of $49.63 and a 52-week high of $89.39. The firm has a 50-day moving average price of $74.62 and a 200 day moving average price of $72.69.

About Zillow Group

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding Z? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zillow Group, Inc. (NASDAQ:Z - Free Report).

Institutional Ownership by Quarter for Zillow Group (NASDAQ:Z)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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