PDT Partners LLC Invests $590,000 in Zillow Group, Inc. $Z

Key Points

• PDT Partners LLC has made a new investment in Zillow Group, acquiring 8,600 shares valued at approximately $590,000.
• Several large investors, including Vanguard Group Inc. and Assenagon Asset Management S.A., have significantly increased their stakes in Zillow Group during the first quarter.
• Analysts have raised their price targets for Zillow Group, with JPMorgan Chase & Co. increasing its target from $79.00 to $94.00, reflecting a growing optimism about the company's stock performance.

PDT Partners LLC bought a new position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,600 shares of the financial services provider's stock, valued at approximately $590,000.

A number of other institutional investors also recently modified their holdings of the company. Flynn Zito Capital Management LLC boosted 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 worth $264,000 after purchasing an additional 166 shares during the period. True Vision MN LLC raised its stake in Zillow Group by 2.4% in the first 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 in the last quarter. GAMMA Investing LLC raised its stake in 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 buying an additional 196 shares in the last quarter. National Pension Service raised its stake in 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 buying an additional 247 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Zillow Group by 288.9% in the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock worth $31,000 after buying an additional 338 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on Z shares. Bank of America increased their price target on shares of Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.29.

Zillow Group Price Performance

Shares of Zillow Group stock traded up $0.25 during trading hours on Wednesday, reaching $87.44. The company's stock had a trading volume of 488,293 shares, compared to its average volume of 2,650,883. The firm has a 50 day moving average price of $81.11 and a 200-day moving average price of $73.05. Zillow Group, Inc. has a one year low of $53.90 and a one year high of $91.93. The stock has a market cap of $21.18 billion, a P/E ratio of -335.31, a P/E/G ratio of 12.43 and a beta of 2.04.

Insider Transactions at Zillow Group

In related news, General Counsel Bradley D. Owens sold 3,014 shares of Zillow Group stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $85.35, for a total transaction of $257,244.90. Following the completion of the transaction, the general counsel directly owned 42,593 shares of the company's stock, valued at approximately $3,635,312.55. The trade was a 6.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dan Spaulding sold 5,680 shares of Zillow Group stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $85.22, for a total transaction of $484,049.60. Following the transaction, the insider directly owned 59,616 shares of the company's stock, valued at approximately $5,080,475.52. This represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 580,622 shares of company stock worth $49,350,788. 23.76% of the stock is currently owned by corporate insiders.

Zillow Group 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.