Strs Ohio Purchases New Stake in Zillow Group, Inc. $Z

Key Points

• Strs Ohio made a new investment in Zillow Group, purchasing 12,070 shares valued at approximately $828,000 during the first quarter.
• Analysts have recently increased their price targets for Zillow Group, with JPMorgan targeting $94.00 and Sanford C. Bernstein giving an "outperform" rating with a price target of $105.00.
• Over the last quarter, insiders have sold over 657,000 shares of Zillow Group, indicating a significant degree of insider selling activity amidst fluctuating stock performance.

Strs Ohio acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,070 shares of the financial services provider's stock, valued at approximately $828,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in Zillow Group by 288.9% during the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 338 shares during the period. National Pension Service boosted its position in Zillow Group by 74.8% during the 1st quarter. National Pension Service now owns 577 shares of the financial services provider's stock worth $40,000 after acquiring an additional 247 shares during the period. GAMMA Investing LLC boosted its position in Zillow Group by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock worth $42,000 after acquiring an additional 196 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Zillow Group during the 1st quarter worth $49,000. Finally, Parallel Advisors LLC boosted its position in Zillow Group by 141.8% during the 1st quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock worth $115,000 after acquiring an additional 984 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on Z. Sanford C. Bernstein upgraded Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price target for the company in a research report on Wednesday, September 17th. JPMorgan Chase & Co. boosted their price target on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Bank of America boosted their price target on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.38.

Zillow Group Price Performance

Shares of Z traded down $0.64 during mid-day trading on Tuesday, reaching $80.40. The company had a trading volume of 424,867 shares, compared to its average volume of 2,679,420. Zillow Group, Inc. has a twelve month low of $57.00 and a twelve month high of $93.88. The company's 50-day moving average is $83.40 and its 200-day moving average is $73.75. The company has a market capitalization of $19.48 billion, a P/E ratio of -311.75, a P/E/G ratio of 24.15 and a beta of 2.04.

Insiders Place Their Bets

In related news, insider Dan Spaulding sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the sale, the insider directly owned 68,889 shares in the company, valued at $5,918,253.99. This represents a 59.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard N. Barton sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $84.92, for a total value of $16,984,000.00. Following the sale, the chairman owned 843,248 shares in the company, valued at approximately $71,608,620.16. This trade represents a 19.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 657,087 shares of company stock worth $56,286,479 in the last 90 days. 23.76% of the stock is owned by corporate insiders.

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.