Resona Asset Management Co. Ltd. Acquires New Shares in Zillow Group, Inc. (NASDAQ:Z)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:Z) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 44,403 shares of the financial services provider’s stock, valued at approximately $3,300,000.

Several other hedge funds also recently modified their holdings of the company. National Bank of Canada FI bought a new stake in Zillow Group in the 4th quarter valued at about $55,000. Assetmark Inc. increased its position in Zillow Group by 7,410.0% in the 4th quarter. Assetmark Inc. now owns 751 shares of the financial services provider’s stock valued at $56,000 after buying an additional 741 shares in the last quarter. Blue Trust Inc. increased its position in Zillow Group by 17.5% in the 4th quarter. Blue Trust Inc. now owns 922 shares of the financial services provider’s stock valued at $68,000 after buying an additional 137 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Zillow Group by 53.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider’s stock valued at $79,000 after buying an additional 367 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Zillow Group by 86.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,250 shares of the financial services provider’s stock valued at $94,000 after buying an additional 579 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Zillow Group Price Performance

Zillow Group stock opened at $66.06 on Thursday. Zillow Group, Inc. has a one year low of $38.45 and a one year high of $89.39. The business has a fifty day moving average price of $74.35 and a 200-day moving average price of $73.26. The firm has a market capitalization of $16.02 billion, a P/E ratio of -140.55, a PEG ratio of 9.24 and a beta of 2.19.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) 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%. Sell-side analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Baird R W raised Zillow Group to a “hold” rating in a research report on Friday, January 31st. Wedbush reissued an “outperform” rating and set a $100.00 price objective on shares of Zillow Group in a report on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a report on Wednesday, February 12th. Keefe, Bruyette & Woods began coverage on Zillow Group in a report on Friday, March 28th. They set a “market perform” rating and a $80.00 price objective for the company. Finally, KeyCorp raised Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, February 2nd. Six analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $81.71.

Insider Buying and Selling

In other news, CFO Jeremy Hofmann sold 1,612 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total transaction of $136,987.76. Following the transaction, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at approximately $8,443,782.76. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jun Choo sold 1,277 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $99,248.44. Following the transaction, the chief operating officer now directly owns 86,853 shares in the company, valued at $6,750,215.16. This trade represents a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,919 shares of company stock worth $7,869,478. Corporate insiders own 23.76% of the company’s stock.

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.