Northwest & Ethical Investments L.P. Makes New $356,000 Investment in Zillow Group, Inc. $Z

Key Points

• Northwest & Ethical Investments L.P. invested approximately $356,000 in Zillow Group, acquiring 5,200 shares during the 1st quarter.
• Vanguard Group Inc. increased its holdings by 7.8%, now owning 22.6 million shares valued at around $1.55 billion.
• Multiple analysts have adjusted price targets for Zillow Group, with Bank of America raising its target from $81 to $88, indicating a "neutral" rating.

Northwest & Ethical Investments L.P. bought a new position in Zillow Group, Inc. (NASDAQ:Z - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,200 shares of the financial services provider's stock, valued at approximately $356,000.

Several other hedge funds also recently bought and sold shares of Z. Vanguard Group Inc. increased its holdings in shares of Zillow Group by 7.8% during 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 last quarter. Caxton Associates LP acquired a new position in shares of Zillow Group during the 4th quarter valued at about $51,835,000. Castle Hook Partners LP acquired a new position in shares of Zillow Group during the 4th quarter valued at about $49,887,000. Polar Capital Holdings Plc acquired a new position in shares of Zillow Group during the 4th quarter valued at about $33,504,000. Finally, Altimeter Capital Management LP increased its holdings in shares of Zillow Group by 52.0% during the 4th quarter. Altimeter Capital Management LP now owns 1,300,738 shares of the financial services provider's stock valued at $96,320,000 after acquiring an additional 445,158 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zillow Group

In other Zillow Group news, Director Thielke Claire Cormier sold 8,247 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $79.86, for a total value of $658,605.42. Following the completion of the sale, the director directly owned 725 shares in the company, valued at $57,898.50. This represents a 91.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jun Choo sold 45,710 shares of Zillow Group stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $85.21, for a total value 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 trade represents a 28.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 580,379 shares of company stock valued at $49,319,729. 23.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Bank of America increased their price objective on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Wedbush reissued 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. increased their price objective on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Wells Fargo & Company raised Zillow Group to a "hold" rating in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods decreased their target price on Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $88.29.

Zillow Group Price Performance

Zillow Group stock opened at $83.50 on Wednesday. The firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of -321.15, a PEG ratio of 15.91 and a beta of 2.09. The company's 50 day simple moving average is $76.49 and its 200 day simple moving average is $72.75. Zillow Group, Inc. has a fifty-two week low of $52.86 and a fifty-two week 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.

Want to see what other hedge funds are holding Z? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zillow Group, Inc. (NASDAQ:Z - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.