Northern Trust Corp Has $69.65 Million Stock Holdings in Zillow Group, Inc. $Z

Key Points

• Northern Trust Corp increased its stake in Zillow Group by 4.7%, acquiring an additional 45,376 shares, bringing its total ownership to 1,015,899 shares valued at approximately $69.65 million.
• A variety of institutional investors, including DoubleLine ETF Adviser LP and Flynn Zito Capital Management LLC, also adjusted their holdings in Zillow Group during recent quarters, indicating growing interest from institutional investors.
• Research analysts have varying ratings for Zillow Group, with a consensus rating of “Hold” and an average price target of $88.29, suggesting cautious optimism among analysts.

Northern Trust Corp lifted its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,015,899 shares of the financial services provider's stock after purchasing an additional 45,376 shares during the quarter. Northern Trust Corp owned about 0.42% of Zillow Group worth $69,650,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. IFP Advisors Inc boosted its position 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 worth $31,000 after purchasing an additional 338 shares in the last quarter. National Pension Service lifted its position in Zillow Group by 74.8% in the 1st quarter. National Pension Service now owns 577 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 247 shares in the last quarter. GAMMA Investing LLC lifted its position in 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 acquiring an additional 196 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Zillow Group in the 1st quarter valued at approximately $49,000. Finally, Point72 Hong Kong Ltd bought a new position in Zillow Group in the 4th quarter valued at approximately $119,000. 71.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on Z. Keefe, Bruyette & Woods lowered their price target 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. JPMorgan Chase & Co. increased their price target on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Bank of America increased their price target on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Wedbush reissued an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $88.29.

Zillow Group Trading Up 1.3%

Shares of NASDAQ:Z traded up $1.11 during midday trading on Thursday, hitting $85.30. The stock had a trading volume of 1,256,706 shares, compared to its average volume of 3,201,537. The company has a market capitalization of $20.67 billion, a PE ratio of -328.08, a P/E/G ratio of 15.86 and a beta of 2.09. The stock has a 50 day moving average price of $78.59 and a two-hundred day moving average price of $72.78. Zillow Group, Inc. has a 1 year low of $52.86 and a 1 year high of $89.39.

Insiders Place Their Bets

In related news, insider Dan Spaulding sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $85.91, for a total value of $8,591,000.00. Following the completion of the sale, the insider directly owned 68,889 shares in the company, valued at approximately $5,918,253.99. The trade was a 59.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jun Choo sold 45,710 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.21, for a total transaction of $3,894,949.10. Following the sale, the chief operating officer owned 117,098 shares of the company's stock, valued at approximately $9,977,920.58. This represents a 28.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 580,379 shares of company stock valued at $49,319,729. 25.03% of the stock is currently owned by insiders.

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.