Mirador Capital Partners LP Has $5.21 Million Holdings in Zillow Group, Inc. $Z

Key Points

• Mirador Capital Partners LP increased its stake in Zillow Group by 9.4%, owning 74,364 shares worth approximately $5.21 million after acquiring an additional 6,414 shares in the second quarter.
• Securities analysts have raised price targets for Zillow Group, with Bank of America increasing its target from $81 to $88 and JPMorgan Chase from $79 to $94, indicating a generally positive outlook on the stock.
• Insider trading activity has been notable, including CFO Jeremy Hofmann selling 25,000 shares for about $2.25 million, resulting in a 22.91% decrease in his ownership.

Mirador Capital Partners LP boosted its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 9.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,364 shares of the financial services provider's stock after purchasing an additional 6,414 shares during the period. Mirador Capital Partners LP's holdings in Zillow Group were worth $5,209,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of Z. Vanguard Group Inc. raised its stake in shares of Zillow Group by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider's stock valued at $1,548,767,000 after acquiring an additional 1,628,577 shares during the period. Atreides Management LP purchased a new position in shares of Zillow Group in the 1st quarter valued at $32,159,000. AQR Capital Management LLC raised its stake in shares of Zillow Group by 320.0% in the 1st quarter. AQR Capital Management LLC now owns 550,217 shares of the financial services provider's stock valued at $37,222,000 after acquiring an additional 419,202 shares during the period. Ninety One UK Ltd raised its stake in shares of Zillow Group by 11.4% in the 1st quarter. Ninety One UK Ltd now owns 4,029,503 shares of the financial services provider's stock valued at $276,263,000 after acquiring an additional 411,742 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Zillow Group in the 1st quarter valued at $24,709,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Insiders Place Their Bets

In other Zillow Group news, COO Jun Choo sold 45,710 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $85.21, for a total transaction of $3,894,949.10. Following the completion of the transaction, the chief operating officer directly owned 117,098 shares of the company's stock, valued at $9,977,920.58. The trade was a 28.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard N. Barton sold 200,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $84.92, for a total transaction of $16,984,000.00. Following the completion of the sale, the chairman directly owned 843,248 shares of the company's stock, valued at approximately $71,608,620.16. This represents a 19.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 657,087 shares of company stock worth $56,286,479. Corporate insiders own 25.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Bank of America raised their target price on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Sanford C. Bernstein raised shares of Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price target on the stock in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of "Moderate Buy" and an average price target of $90.38.

Zillow Group Stock Down 3.6%

Shares of Z traded down $3.24 during midday trading on Friday, hitting $86.74. The company had a trading volume of 4,524,635 shares, compared to its average volume of 2,569,500. The company's 50 day moving average price is $83.36 and its 200 day moving average price is $73.71. The stock has a market cap of $21.01 billion, a price-to-earnings ratio of -333.62, a PEG ratio of 24.15 and a beta of 2.04. Zillow Group, Inc. has a 52 week low of $57.00 and a 52 week high of $93.88.

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.