Zillow Group, Inc. (NASDAQ:Z) Shares Acquired by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its holdings in Zillow Group by 25.7% in Q1, owning 48,960 shares valued at $3.36 million after acquiring an additional 10,013 shares.
• Several other institutional investors also boosted their stakes, with TB Alternative Assets Ltd. increasing its share by 49.0% to own 570,913 shares valued at $39.14 million.
• Zillow Group's stock received mixed ratings from analysts, with a consensus price target of $83.71 and eight analysts rating it a "hold".

Victory Capital Management Inc. grew its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 25.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,960 shares of the financial services provider's stock after buying an additional 10,013 shares during the quarter. Victory Capital Management Inc.'s holdings in Zillow Group were worth $3,357,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Zillow Group by 47.7% during the first 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 last quarter. National Bank of Canada FI bought a new stake in Zillow Group in the 4th quarter valued at $55,000. Natixis bought a new stake in Zillow Group in the 4th quarter valued at $80,000. Point72 Hong Kong Ltd bought a new stake in Zillow Group in the 4th quarter valued at $119,000. Finally, Parallel Advisors LLC increased its holdings in Zillow Group by 141.8% in the 1st quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 984 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on Z. Wedbush restated an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped their target price 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. JPMorgan Chase & Co. dropped their target price on Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, William Blair began coverage on Zillow Group in a report on Monday, April 21st. They issued a "market perform" rating for the company. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $83.71.

Insider Transactions at Zillow Group

In related news, CEO Jeremy Wacksman sold 10,984 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $757,676.32. Following the completion of the transaction, the chief executive officer owned 171,517 shares of the company's stock, valued at approximately $11,831,242.66. This represents a 6.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Erik C. Blachford sold 965 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $70.35, for a total value of $67,887.75. Following the completion of the transaction, the director directly owned 35,474 shares of the company's stock, valued at $2,495,595.90. The trade was a 2.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,093 shares of company stock valued at $6,989,688. 25.03% of the stock is owned by insiders.

Zillow Group Price Performance

Zillow Group stock traded up $0.86 during trading hours on Thursday, hitting $79.89. 316,515 shares of the stock traded hands, compared to its average volume of 2,598,691. The firm's 50 day moving average price is $72.09 and its 200-day moving average price is $72.35. The stock has a market capitalization of $19.29 billion, a price-to-earnings ratio of -234.73, a P/E/G ratio of 14.75 and a beta of 2.11. Zillow Group, Inc. has a 1 year low of $41.67 and a 1 year high of $89.39.

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.