Zillow Group, Inc. $Z Shares Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Zillow Group by 24.7%, acquiring a total of 30,475 shares worth approximately $2.09 million.
• Several institutional investors have also increased their investments in Zillow Group, with the National Pension Service growing its position by 74.8% in the first quarter.
• Wall Street analysts have mixed ratings on Zillow Group, with a consensus target price of $88.29 and varying ratings from Strong Buy to Hold.

OMERS ADMINISTRATION Corp grew its position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 24.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,475 shares of the financial services provider's stock after buying an additional 6,027 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Zillow Group were worth $2,089,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Flynn Zito Capital Management LLC grew its holdings in shares of Zillow Group by 4.5% during the first quarter. Flynn Zito Capital Management LLC now owns 3,856 shares of the financial services provider's stock valued at $264,000 after buying an additional 166 shares during the last quarter. True Vision MN LLC boosted its stake in shares of Zillow Group by 2.4% in the 1st quarter. True Vision MN LLC now owns 7,599 shares of the financial services provider's stock worth $521,000 after buying an additional 176 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 acquiring an additional 196 shares during the period. National Pension Service grew its holdings in shares of Zillow Group by 74.8% in the first quarter. National Pension Service now owns 577 shares of the financial services provider's stock worth $40,000 after acquiring an additional 247 shares during the period. Finally, IFP Advisors Inc increased its position in Zillow Group by 288.9% during the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 338 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Zillow Group Stock Up 2.1%

Shares of NASDAQ Z traded up $1.69 during trading hours on Wednesday, hitting $83.50. 1,694,220 shares of the stock were exchanged, compared to its average volume of 2,662,249. The company has a market cap of $20.23 billion, a PE ratio of -321.15, a PEG ratio of 15.88 and a beta of 2.04. The firm has a fifty day moving average price of $79.45 and a 200-day moving average price of $72.78. Zillow Group, Inc. has a 12 month low of $52.86 and a 12 month high of $89.39.

Insider Activity

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 transaction of $8,591,000.00. Following the completion of the transaction, the insider owned 68,889 shares in the company, valued at $5,918,253.99. The trade was a 59.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeremy Wacksman sold 11,275 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.73, for a total transaction of $966,605.75. Following the transaction, the chief executive officer owned 153,113 shares of the company's stock, valued at approximately $13,126,377.49. This trade represents a 6.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 580,379 shares of company stock worth $49,319,729 over the last 90 days. 25.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Bank of America raised their target price on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Keefe, Bruyette & Woods lowered 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 note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 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 company presently has an average rating of "Hold" and a consensus price target of $88.29.

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.