Ninety One UK Ltd Has $276.26 Million Stock Position in Zillow Group, Inc. (NASDAQ:Z)

Ninety One UK Ltd grew its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 11.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,029,503 shares of the financial services provider's stock after buying an additional 411,742 shares during the period. Ninety One UK Ltd owned approximately 1.66% of Zillow Group worth $276,263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Zillow Group by 47.7% in the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock worth $42,000 after purchasing an additional 196 shares during the period. National Bank of Canada FI bought a new position in shares of Zillow Group in the fourth quarter worth about $55,000. Assetmark Inc. increased its stake in shares of Zillow Group by 7,410.0% in the fourth quarter. Assetmark Inc. now owns 751 shares of the financial services provider's stock worth $56,000 after purchasing an additional 741 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Zillow Group by 53.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider's stock worth $79,000 after purchasing an additional 367 shares during the period. Finally, Natixis bought a new position in shares of Zillow Group in the fourth quarter worth about $80,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Insiders Place Their Bets

In related news, Director Erik C. Blachford sold 965 shares of Zillow Group stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.35, for a total value of $67,887.75. Following the transaction, the director directly owned 35,474 shares of the company's stock, valued at $2,495,595.90. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dan Spaulding sold 5,534 shares of Zillow Group stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $381,735.32. Following the completion of the transaction, the insider directly owned 68,889 shares in the company, valued at $4,751,963.22. This trade represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,093 shares of company stock worth $6,989,688 in the last three months. Insiders own 23.76% of the company's stock.

Zillow Group Stock Performance

NASDAQ:Z traded up $0.23 during mid-day trading on Tuesday, hitting $72.62. The stock had a trading volume of 2,402,772 shares, compared to its average volume of 2,987,609. Zillow Group, Inc. has a twelve month low of $41.67 and a twelve month high of $89.39. The stock has a market cap of $17.53 billion, a price-to-earnings ratio of -213.59, a PEG ratio of 13.40 and a beta of 2.11. The company's 50 day simple moving average is $68.86 and its 200 day simple moving average is $71.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. William Blair assumed coverage on Zillow Group in a report on Monday, April 21st. They set a "market perform" rating on the stock. Wedbush reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Zillow Group in a report on Monday, May 5th. JPMorgan Chase & Co. decreased their price objective on Zillow Group from $93.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Keefe, Bruyette & Woods reduced their target price on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company raised Zillow Group to a "hold" rating in a report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $83.71.

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.