Nuveen LLC Purchases New Stake in Zillow Group, Inc. $Z

Key Points

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Nuveen LLC purchased a new stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 360,402 shares of the financial services provider's stock, valued at approximately $24,709,000. Nuveen LLC owned approximately 0.15% of Zillow Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Zillow Group by 7.8% during the first quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider's stock worth $1,548,767,000 after acquiring an additional 1,628,577 shares in the last quarter. Ninety One UK Ltd increased its stake in shares of Zillow Group by 11.4% in the first quarter. Ninety One UK Ltd now owns 4,029,503 shares of the financial services provider's stock valued at $276,263,000 after buying an additional 411,742 shares during the period. Dorsal Capital Management LP increased its stake in shares of Zillow Group by 4.7% in the fourth quarter. Dorsal Capital Management LP now owns 3,350,000 shares of the financial services provider's stock valued at $248,068,000 after buying an additional 150,000 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of 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 buying an additional 45,828 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Zillow Group by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,540,831 shares of the financial services provider's stock valued at $114,109,000 after buying an additional 65,724 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Richard N. Barton sold 150,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.68, for a total value of $12,852,000.00. Following the completion of the sale, the chairman directly owned 2,501,225 shares of the company's stock, valued at approximately $214,304,958. This represents a 5.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Bradley D. Owens sold 3,014 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $85.35, for a total value of $257,244.90. Following the sale, the general counsel directly owned 42,593 shares of the company's stock, valued at approximately $3,635,312.55. This represents a 6.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 580,379 shares of company stock worth $49,319,729 in the last three months. 25.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on Z shares. Wedbush reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of Zillow Group in a research note on Monday, May 5th. Bank of America increased their price target on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut 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. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Zillow Group presently has an average rating of "Hold" and an average target price of $88.29.

Zillow Group Trading Down 0.7%

NASDAQ Z opened at $84.50 on Tuesday. The firm has a market capitalization of $20.40 billion, a P/E ratio of -325.00, a PEG ratio of 16.03 and a beta of 2.09. The business has a fifty day simple moving average of $76.25 and a 200 day simple moving average of $72.67. Zillow Group, Inc. has a 12 month low of $52.86 and a 12 month high of $89.39.

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.

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