Quantbot Technologies LP Invests $611,000 in Zillow Group, Inc. $Z

Key Points

• Quantbot Technologies LP has invested approximately $611,000 in Zillow Group by purchasing 8,917 shares, indicating growing interest in the real estate market.
• Zillow Group's stock has seen a 0.6% decline, currently priced at $86.94, with a market cap of $21.06 billion and a notable price-to-earnings ratio of -334.38.
• Recent insider transactions included significant share sales by executives, with Dan Spaulding selling 100,000 shares for $8.59 million, reflecting a 59.21% decrease in ownership.

Quantbot Technologies LP bought a new stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,917 shares of the financial services provider's stock, valued at approximately $611,000.

Other large investors have also modified their holdings of the company. TB Alternative Assets Ltd. grew its stake in shares of Zillow Group by 49.0% in the first 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 Zillow Group in the first quarter valued at about $468,000. Alberta Investment Management Corp purchased a new position in Zillow Group in the first quarter valued at about $3,661,000. Cerity Partners LLC boosted its holdings in Zillow Group by 67.0% in the first quarter. Cerity Partners LLC now owns 20,475 shares of the financial services provider's stock valued at $1,404,000 after purchasing an additional 8,215 shares during the last quarter. Finally, G&S Capital LLC boosted its holdings in Zillow Group by 132.2% in the first quarter. G&S Capital LLC now owns 33,933 shares of the financial services provider's stock valued at $2,326,000 after purchasing an additional 19,319 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Buying and Selling

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,014 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.35, for a total value of $257,244.90. Following the completion of the sale, the general counsel owned 42,593 shares in the company, valued at approximately $3,635,312.55. This trade represents a 6.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard N. Barton sold 150,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.68, for a total value of $12,852,000.00. Following the completion of the sale, the chairman owned 2,501,225 shares of the company's stock, valued at $214,304,958. This represents a 5.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 580,379 shares of company stock worth $49,319,729. 25.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods reduced their price target on Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Wedbush reissued an "outperform" rating and issued a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. JPMorgan Chase & Co. increased their price target on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Bank of America increased their price target 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, four have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $88.29.

Zillow Group Trading Up 1.3%

Z traded up $1.11 during midday trading on Thursday, reaching $85.30. The company's stock had a trading volume of 1,256,706 shares, compared to its average volume of 3,201,537. The stock has a market cap of $20.67 billion, a P/E ratio of -328.08, a PEG ratio of 15.86 and a beta of 2.09. The company has a fifty day simple moving average of $78.59 and a 200 day simple moving average of $72.78. Zillow Group, Inc. has a twelve month low of $52.86 and a twelve month high of $89.39.

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.