Mackenzie Financial Corp Buys Shares of 5,916 Zillow Group, Inc. (NASDAQ:Z)

Mackenzie Financial Corp bought a new stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,916 shares of the financial services provider's stock, valued at approximately $406,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. TB Alternative Assets Ltd. grew its position in Zillow Group by 49.0% in the 1st quarter. TB Alternative Assets Ltd. now owns 570,913 shares of the financial services provider's stock worth $39,142,000 after purchasing an additional 187,671 shares during the last quarter. Cerity Partners LLC grew its holdings in Zillow Group by 67.0% in the 1st quarter. Cerity Partners LLC now owns 20,475 shares of the financial services provider's stock worth $1,404,000 after buying an additional 8,215 shares in the last quarter. G&S Capital LLC increased its position in Zillow Group by 132.2% in the 1st quarter. G&S Capital LLC now owns 33,933 shares of the financial services provider's stock valued at $2,326,000 after acquiring an additional 19,319 shares during the period. Gotham Asset Management LLC bought a new stake in Zillow Group during the 4th quarter valued at $442,000. Finally, Optas LLC boosted its position in Zillow Group by 117.5% during the 1st quarter. Optas LLC now owns 12,205 shares of the financial services provider's stock worth $837,000 after acquiring an additional 6,594 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CEO Jeremy Wacksman sold 10,984 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $757,676.32. Following the sale, the chief executive officer directly owned 171,517 shares in the company, valued at $11,831,242.66. This represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dan Spaulding sold 5,534 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $381,735.32. Following the completion of the sale, the insider directly owned 68,889 shares in the company, valued at approximately $4,751,963.22. The trade was a 7.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,371 shares of company stock valued at $5,775,204 in the last quarter. 25.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Z has been the subject of a number of research reports. Wells Fargo & Company raised Zillow Group to a "hold" rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods decreased their target price 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. William Blair started coverage on Zillow Group in a report on Monday, April 21st. They set a "market perform" rating on the stock. JPMorgan Chase & Co. upped their price target on shares of Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Bank of America raised their price objective on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday. Eight analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Zillow Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.29.

Zillow Group Stock Down 0.6%

Shares of Z stock opened at $84.63 on Friday. Zillow Group, Inc. has a 12 month low of $46.75 and a 12 month high of $89.39. The stock has a 50 day moving average of $74.33 and a 200-day moving average of $72.71. The firm has a market cap of $20.43 billion, a PE ratio of -325.50, a price-to-earnings-growth ratio of 15.73 and a beta of 2.09.

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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