Zillow Group, Inc. $Z Shares Purchased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Zillow Group, Inc. by 7.8% to a total of 47,869 shares, valued at approximately $3.28 million.
• Institutional investors now own 71.01% of Zillow's stock, with notable increases in positions from firms like Vanguard Group and Ninety One UK Ltd.
• Wall Street analysts have offered mixed ratings on Zillow, with a consensus rating of "Hold" and an average price target of $88.29.

Resona Asset Management Co. Ltd. raised its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 7.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,869 shares of the financial services provider's stock after acquiring an additional 3,466 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Zillow Group were worth $3,283,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Envestnet Asset Management Inc. grew its holdings in shares of Zillow Group by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 56,318 shares of the financial services provider's stock valued at $4,170,000 after purchasing an additional 1,243 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Zillow Group by 4.7% in the fourth quarter. Russell Investments Group Ltd. now owns 21,014 shares of the financial services provider's stock valued at $1,556,000 after purchasing an additional 948 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Zillow Group by 63.4% in the fourth quarter. Cerity Partners LLC now owns 12,260 shares of the financial services provider's stock valued at $885,000 after purchasing an additional 4,756 shares in the last quarter. Mariner LLC grew its holdings in shares of Zillow Group by 19.9% in the fourth quarter. Mariner LLC now owns 17,475 shares of the financial services provider's stock valued at $1,294,000 after purchasing an additional 2,897 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Zillow Group by 12.2% in the fourth quarter. Canada Pension Plan Investment Board now owns 214,600 shares of the financial services provider's stock valued at $15,891,000 after purchasing an additional 23,400 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Price Performance

NASDAQ Z traded down $2.40 during mid-day trading on Wednesday, hitting $81.10. The company's stock had a trading volume of 1,988,884 shares, compared to its average volume of 2,667,301. Zillow Group, Inc. has a 52-week low of $52.86 and a 52-week high of $89.39. The stock's fifty day simple moving average is $76.49 and its two-hundred day simple moving average is $72.75. The firm has a market capitalization of $19.65 billion, a P/E ratio of -311.92, a price-to-earnings-growth ratio of 15.91 and a beta of 2.09.

Insider Transactions at Zillow Group

In related news, COO Jun Choo sold 45,710 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $85.21, for a total value of $3,894,949.10. Following the transaction, the chief operating officer owned 117,098 shares in the company, valued at approximately $9,977,920.58. This trade represents a 28.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Richard N. Barton sold 200,000 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $84.92, for a total transaction of $16,984,000.00. Following the completion of the transaction, the chairman owned 843,248 shares in the company, valued at $71,608,620.16. The trade was a 19.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 580,379 shares of company stock valued at $49,319,729 in the last three months. 23.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on Z. Bank of America lifted their price objective on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Wedbush reiterated an "outperform" rating and issued a $100.00 price target on shares of Zillow Group in a research note on Monday, May 5th. Wells Fargo & Company upgraded shares of Zillow Group to a "hold" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. lifted their price target on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Zillow Group has an average rating of "Hold" and a consensus price target of $88.29.

Zillow Group Company 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.