Public Employees Retirement System of Ohio Boosts Stake in Zillow Group, Inc. $Z

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Zillow Group, Inc. by 12.9% during the 2nd quarter, owning 55,151 shares valued at approximately $3.86 million post-investment.
• Multiple hedge funds have also adjusted their positions in Zillow Group, with 71.01% of the stock now held by institutional investors.
• Zillow Group's stock price is currently trading at $77.05 with a market cap of $18.67 billion, although it has seen a 4.3% decline recently.

Public Employees Retirement System of Ohio raised its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 12.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,151 shares of the financial services provider's stock after buying an additional 6,316 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Zillow Group were worth $3,863,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jump Financial LLC purchased a new position in shares of Zillow Group during the 1st quarter valued at about $334,000. TB Alternative Assets Ltd. raised its holdings in shares of Zillow Group by 49.0% during the 1st quarter. TB Alternative Assets Ltd. now owns 570,913 shares of the financial services provider's stock valued at $39,142,000 after buying an additional 187,671 shares in the last quarter. American Assets Investment Management LLC purchased a new position in shares of Zillow Group during the 1st quarter valued at about $468,000. Alberta Investment Management Corp purchased a new position in shares of Zillow Group during the 1st quarter valued at about $3,661,000. Finally, Cerity Partners LLC raised its holdings in shares of Zillow Group by 67.0% during the 1st quarter. Cerity Partners LLC now owns 20,475 shares of the financial services provider's stock valued at $1,404,000 after buying an additional 8,215 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Trading Down 4.3%

Zillow Group stock opened at $77.05 on Wednesday. The firm has a market cap of $18.67 billion, a price-to-earnings ratio of -296.35, a PEG ratio of 22.43 and a beta of 2.04. Zillow Group, Inc. has a 12 month low of $57.00 and a 12 month high of $93.88. The stock has a fifty day simple moving average of $83.53 and a two-hundred day simple moving average of $74.07.

Insider Buying and Selling

In related news, Director April Underwood sold 3,621 shares of Zillow Group stock in a transaction on Monday, September 8th. The stock was sold at an average price of $90.12, for a total value of $326,324.52. Following the completion of the sale, the director owned 483 shares of the company's stock, valued at $43,527.96. The trade was a 88.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jun Choo sold 25,575 shares of Zillow Group stock in a transaction on Monday, September 8th. The stock was sold at an average price of $91.06, for a total value of $2,328,859.50. Following the completion of the sale, the chief operating officer directly owned 114,129 shares of the company's stock, valued at $10,392,586.74. The trade was a 18.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 657,087 shares of company stock valued at $56,286,479 over the last ninety days. 23.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on Z shares. JPMorgan Chase & Co. raised 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. Sanford C. Bernstein raised Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price objective on the stock in a report on Wednesday, September 17th. Finally, Bank of America increased their target price on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Zillow Group presently has an average rating of "Moderate Buy" and a consensus target price of $90.38.

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.

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