Mitsubishi UFJ Asset Management Co. Ltd. Buys 19,885 Shares of Zillow Group, Inc. (NASDAQ:Z)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Zillow Group by 19.3%, now owning 122,727 shares worth approximately $8.41 million.
• A variety of institutional investors, including Charles Schwab and Vanguard Group, have made significant changes to their positions in Zillow Group, with institutional ownership accounting for 71.01% of the stock.
• Analysts have set a new average target price of $88.29 for Zillow Group, with most ratings categorized as "hold" and others ranging from "neutral" to "overweight."

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 19.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 122,727 shares of the financial services provider's stock after purchasing an additional 19,885 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.05% of Zillow Group worth $8,414,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of Z. Charles Schwab Investment Management Inc. increased its stake 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 valued at $108,636,000 after acquiring an additional 45,828 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in Zillow Group in the first quarter valued at $1,548,000. Vanguard Group Inc. increased its stake 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 valued at $1,548,767,000 after acquiring an additional 1,628,577 shares during the last quarter. American Assets Investment Management LLC bought a new position in shares of Zillow Group during the 1st quarter valued at about $468,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Zillow Group during the 1st quarter valued at about $49,000. 71.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zillow Group

In related news, COO Jun Choo sold 45,710 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer owned 117,098 shares in the company, valued at $9,977,920.58. This represents a 28.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thielke Claire Cormier sold 8,247 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $79.86, for a total value of $658,605.42. Following the transaction, the director directly owned 725 shares in the company, valued at $57,898.50. The trade was a 91.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,713 shares of company stock worth $16,197,138. 25.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on Z. Wells Fargo & Company raised shares of Zillow Group to a "hold" rating in a report on Monday, April 28th. Wedbush reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Zillow Group in a research note on Monday, May 5th. William Blair started coverage on Zillow Group in a research note on Monday, April 21st. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods reduced their price target on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Finally, Zelman & Associates restated a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $88.29.

Zillow Group Trading Up 5.8%

Zillow Group stock traded up $4.67 during mid-day trading on Wednesday, hitting $84.84. The company had a trading volume of 4,995,004 shares, compared to its average volume of 2,668,503. The company has a market capitalization of $20.48 billion, a PE ratio of -326.31, a price-to-earnings-growth ratio of 13.02 and a beta of 2.09. The stock's 50 day moving average price is $75.36 and its two-hundred day moving average price is $72.77. Zillow Group, Inc. has a 12 month low of $51.94 and a 12 month high of $89.39.

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.