20,468 Shares in Zillow Group, Inc. (NASDAQ:Z) Purchased by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management acquired a new stake in Zillow Group, purchasing 20,468 shares valued at approximately $1.40 million during the first quarter.
• Several institutional investors, including Ninety One UK Ltd, have recently increased their holdings in Zillow Group, indicating strong interest with 71.01% of shares held by institutional investors.
• Insider actions included COO Jun Choo and CEO Jeremy Wacksman selling shares valued at over $1.5 million, reflecting a decrease in their positions.

Neo Ivy Capital Management acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,468 shares of the financial services provider's stock, valued at approximately $1,403,000.

A number of other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc increased its holdings in shares of Zillow Group by 288.9% in the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 338 shares during the period. GAMMA Investing LLC increased its holdings in shares of Zillow Group by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 196 shares during the period. National Bank of Canada FI acquired a new position in shares of Zillow Group in the 4th quarter valued at about $55,000. Natixis acquired a new position in shares of Zillow Group in the 4th quarter valued at about $80,000. Finally, Parallel Advisors LLC increased its holdings in shares of Zillow Group by 141.8% in the 1st quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock valued at $115,000 after purchasing an additional 984 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zillow Group news, CFO Jeremy Hofmann sold 7,959 shares of Zillow Group stock in a transaction on Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $549,011.82. Following the completion of the sale, the chief financial officer owned 97,481 shares of the company's stock, valued at approximately $6,724,239.38. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dan Spaulding sold 5,534 shares of Zillow Group stock in a transaction on Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $381,735.32. Following the completion of the sale, the insider directly owned 68,889 shares of the company's stock, valued at $4,751,963.22. The trade was a 7.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,093 shares of company stock worth $6,989,688. 23.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on Z. Wells Fargo & Company upgraded shares of Zillow Group to a "hold" rating in a report on Monday, April 28th. JPMorgan Chase & Co. lowered their price objective on Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. William Blair began coverage on Zillow Group in a research report on Monday, April 21st. They set a "market perform" rating for the company. Wedbush reiterated an "outperform" rating and issued a $100.00 price objective on shares of Zillow Group in a research report on Monday, May 5th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of 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. Eight analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.71.

Zillow Group Stock Down 2.5%

Shares of Z stock traded down $2.04 during mid-day trading on Tuesday, reaching $79.78. 498,368 shares of the stock traded hands, compared to its average volume of 2,610,535. The company has a market cap of $19.26 billion, a price-to-earnings ratio of -234.64, a price-to-earnings-growth ratio of 14.99 and a beta of 2.11. The stock's fifty day simple moving average is $71.84 and its two-hundred day simple moving average is $72.30. Zillow Group, Inc. has a 1-year low of $41.67 and a 1-year 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.