Zillow Group, Inc. $Z Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Zillow Group, Inc. by 6.5%, acquiring a total of 108,323 shares valued at approximately $7.59 million.
• Other institutional investors also significantly raised their holdings in Zillow, with TD Private Client Wealth LLC increasing theirs by 352% and National Pension Service by 74.8% in the second quarter.
• New analyst ratings for Zillow include a "strong-buy" from Mizuho and an upgrade to "outperform" with a price target of $105 by Sanford C. Bernstein.

Aberdeen Group plc grew its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,323 shares of the financial services provider's stock after buying an additional 6,620 shares during the period. Aberdeen Group plc's holdings in Zillow Group were worth $7,588,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. TD Private Client Wealth LLC raised its position in Zillow Group by 352.0% in the 2nd quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 352 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Zillow Group by 288.9% in 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 in the last quarter. National Pension Service grew its stake in Zillow Group by 74.8% in the 1st quarter. National Pension Service now owns 577 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 247 shares during the last quarter. GAMMA Investing LLC grew its stake in Zillow Group by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 196 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Zillow Group in the 1st quarter valued at about $49,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Transactions at Zillow Group

In related news, CFO Jeremy Hofmann sold 25,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $89.99, for a total value of $2,249,750.00. Following the completion of the sale, the chief financial officer directly owned 84,146 shares in the company, valued at approximately $7,572,298.54. The trade was a 22.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Erik C. Blachford sold 966 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $81.91, for a total value of $79,125.06. Following the transaction, the director owned 34,508 shares of the company's stock, valued at approximately $2,826,550.28. This trade represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 657,087 shares of company stock worth $56,286,479. 25.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on Z. Mizuho raised shares of Zillow Group to a "strong-buy" rating in a research note on Monday, September 29th. Sanford C. Bernstein upgraded shares of Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price objective on the stock in a research note on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Oppenheimer started coverage on shares of Zillow Group in a research report on Monday, October 6th. They set a "market perform" rating for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Zillow Group in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $90.38.

Zillow Group Stock Performance

Shares of NASDAQ Z opened at $74.01 on Friday. The business has a 50 day simple moving average of $81.42 and a 200 day simple moving average of $74.20. Zillow Group, Inc. has a 52 week low of $57.00 and a 52 week high of $93.88. The stock has a market cap of $17.93 billion, a price-to-earnings ratio of -284.65, a PEG ratio of 25.03 and a beta of 2.13.

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.

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