PFG Investments LLC Takes $310,000 Position in Zillow Group, Inc. (NASDAQ:Z)

PFG Investments LLC acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,527 shares of the financial services provider's stock, valued at approximately $310,000.

A number of other hedge funds have also made changes to their positions in Z. Caxton Associates LP acquired a new stake in Zillow Group in the 4th quarter valued at approximately $51,835,000. Castle Hook Partners LP acquired a new stake in Zillow Group in the 4th quarter valued at approximately $49,887,000. Polar Capital Holdings Plc acquired a new stake in Zillow Group in the 4th quarter valued at approximately $33,504,000. Altimeter Capital Management LP grew its holdings in Zillow Group by 52.0% in 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 buying an additional 445,158 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Zillow Group in the 4th quarter valued at approximately $27,769,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a research report on Monday, April 28th. Wedbush reiterated an "outperform" rating and issued a $100.00 price objective on shares of Zillow Group in a research report on Monday, May 5th. William Blair started coverage on Zillow Group in a research report on Monday, April 21st. They set a "market perform" rating for the company. Finally, Keefe, Bruyette & Woods cut their target price on Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Zillow Group has a consensus rating of "Moderate Buy" and an average price target of $83.71.

Insider Buying and Selling

In other Zillow Group news, insider Dan Spaulding sold 5,534 shares of Zillow Group stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $381,735.32. Following the transaction, the insider now directly owns 68,889 shares in the company, valued at approximately $4,751,963.22. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Erik C. Blachford sold 965 shares of Zillow Group stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $70.35, for a total value of $67,887.75. Following the transaction, the director now owns 35,474 shares in the company, valued at approximately $2,495,595.90. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,093 shares of company stock valued at $6,989,688 over the last three months. Company insiders own 25.03% of the company's stock.

Zillow Group Stock Performance

NASDAQ Z opened at $68.45 on Thursday. The stock has a fifty day moving average of $67.69 and a 200-day moving average of $72.47. The stock has a market capitalization of $16.53 billion, a P/E ratio of -201.32, a price-to-earnings-growth ratio of 12.97 and a beta of 2.12. Zillow Group, Inc. has a 52 week low of $41.67 and a 52 week 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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