California Public Employees Retirement System Increases Stake in Zillow Group, Inc. (NASDAQ:Z)

California Public Employees Retirement System grew its stake in Zillow Group, Inc. (NASDAQ:Z) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 201,428 shares of the financial services provider’s stock after purchasing an additional 18,798 shares during the period. California Public Employees Retirement System owned about 0.09% of Zillow Group worth $14,916,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Zillow Group by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,538,709 shares of the financial services provider’s stock valued at $113,941,000 after purchasing an additional 11,727 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Zillow Group during the 4th quarter worth approximately $7,375,000. Vinva Investment Management Ltd purchased a new position in shares of Zillow Group during the 4th quarter valued at approximately $1,187,000. Donoghue Forlines LLC acquired a new stake in Zillow Group in the 4th quarter valued at $1,932,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Zillow Group by 18.5% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 44,114 shares of the financial services provider’s stock worth $3,267,000 after acquiring an additional 6,900 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Zillow Group Price Performance

Shares of NASDAQ Z opened at $66.54 on Friday. Zillow Group, Inc. has a 1 year low of $38.45 and a 1 year high of $89.39. The company has a market capitalization of $16.14 billion, a P/E ratio of -141.57, a P/E/G ratio of 9.24 and a beta of 2.19. The company has a 50 day simple moving average of $76.28 and a 200-day simple moving average of $73.33.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. As a group, research analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Z has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods started coverage on Zillow Group in a research note on Friday, March 28th. They set a “market perform” rating and a $80.00 price objective for the company. KeyCorp upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Zillow Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Baird R W upgraded Zillow Group to a “hold” rating in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.71.

Insider Activity at Zillow Group

In other news, CTO David A. Beitel sold 2,025 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.75, for a total value of $157,443.75. Following the sale, the chief technology officer now directly owns 151,046 shares in the company, valued at approximately $11,743,826.50. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jun Choo sold 55,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $78.18, for a total value of $4,299,900.00. Following the sale, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,919 shares of company stock worth $7,869,478. 23.76% of the stock is currently owned by company insiders.

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.