QRG Capital Management Inc. Has $1.99 Million Stock Position in Zillow Group, Inc. $Z

Key Points

• QRG Capital Management Inc. increased its stake in Zillow Group by 842.2% during Q2, acquiring an additional 25,419 shares, resulting in a total value of approximately $1.99 million.
• Several major investors, including Mirae Asset Global Investments and Truist Financial Corp, have made substantial increases in their positions in Zillow Group during the same period.
• Analysts have mixed views on Zillow Group, with Sanford C. Bernstein upgrading the stock to "outperform" and setting a target price of $105, while others maintain a "sell" rating.

QRG Capital Management Inc. lifted its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 842.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,437 shares of the financial services provider's stock after acquiring an additional 25,419 shares during the period. QRG Capital Management Inc.'s holdings in Zillow Group were worth $1,992,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Zillow Group by 425.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,376 shares of the financial services provider's stock valued at $166,000 after buying an additional 1,924 shares during the last quarter. Ninety One UK Ltd raised its position in shares of Zillow Group by 17.4% during the second quarter. Ninety One UK Ltd now owns 4,731,948 shares of the financial services provider's stock valued at $331,473,000 after buying an additional 702,445 shares during the last quarter. Truist Financial Corp raised its position in shares of Zillow Group by 133.7% during the second quarter. Truist Financial Corp now owns 7,816 shares of the financial services provider's stock valued at $548,000 after buying an additional 4,471 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of Zillow Group during the second quarter valued at about $14,065,000. Finally, TB Alternative Assets Ltd. lifted its position in Zillow Group by 25.4% in the second quarter. TB Alternative Assets Ltd. now owns 715,951 shares of the financial services provider's stock worth $50,152,000 after purchasing an additional 145,038 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Transactions at Zillow Group

In other Zillow Group news, CTO David A. Beitel sold 22,510 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $90.97, for a total value of $2,047,734.70. Following the sale, the chief technology officer owned 144,549 shares in the company, valued at approximately $13,149,622.53. The trade was a 13.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Erik C. Blachford sold 966 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $81.91, for a total value of $79,125.06. Following the completion of the sale, the director owned 34,508 shares in the company, valued at $2,826,550.28. The trade was a 2.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 657,087 shares of company stock worth $56,286,479. Corporate insiders own 23.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on Z. Sanford C. Bernstein raised Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 target price for the company in a research report on Wednesday, September 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zillow Group in a research report on Saturday, September 27th. 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. Gordon Haskett raised Zillow Group to a "strong-buy" rating in a research report on Friday, October 3rd. Finally, Oppenheimer began coverage on Zillow Group in a research report on Monday. They issued a "market perform" rating for the company. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.38.

Zillow Group Price Performance

NASDAQ:Z opened at $72.73 on Wednesday. Zillow Group, Inc. has a fifty-two week low of $57.00 and a fifty-two week high of $93.88. The stock has a market capitalization of $17.62 billion, a PE ratio of -279.73, a price-to-earnings-growth ratio of 20.61 and a beta of 2.13. The business's 50-day simple moving average is $82.89 and its 200-day simple moving average is $74.20.

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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