Great Lakes Advisors LLC Takes Position in Zillow Group, Inc. $Z

Great Lakes Advisors LLC acquired a new stake in Zillow Group, Inc. (NASDAQ:Z) during the first quarter, HoldingsChannel reports. The firm acquired 88,709 shares of the financial services provider’s stock, valued at approximately $6,082,000.

Other hedge funds have also made changes to their positions in the company. Jump Financial LLC purchased a new position in shares of Zillow Group in the 1st quarter valued at about $334,000. TB Alternative Assets Ltd. increased its holdings in shares of Zillow Group by 49.0% in the 1st quarter. TB Alternative Assets Ltd. now owns 570,913 shares of the financial services provider’s stock valued at $39,142,000 after acquiring an additional 187,671 shares during the last quarter. American Assets Investment Management LLC purchased a new position in Zillow Group during the 1st quarter worth approximately $468,000. Alberta Investment Management Corp purchased a new position in Zillow Group during the 1st quarter worth approximately $3,661,000. Finally, Cerity Partners LLC grew its stake in Zillow Group by 67.0% during the 1st quarter. Cerity Partners LLC now owns 20,475 shares of the financial services provider’s stock worth $1,404,000 after buying an additional 8,215 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Trading Down 3.0%

Zillow Group stock opened at $87.19 on Wednesday. Zillow Group, Inc. has a twelve month low of $53.67 and a twelve month high of $91.93. The stock has a 50 day moving average of $81.11 and a two-hundred day moving average of $73.05. The stock has a market capitalization of $21.12 billion, a price-to-earnings ratio of -335.35, a PEG ratio of 12.43 and a beta of 2.04.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on Z. Bank of America raised their price target on Zillow Group from $81.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on Zillow Group from $79.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.29.

Insider Activity at Zillow Group

In other news, insider Dan Spaulding sold 5,680 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.22, for a total value of $484,049.60. Following the completion of the sale, the insider directly owned 59,616 shares of the company’s stock, valued at $5,080,475.52. This trade represents a 8.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik C. Blachford sold 966 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $81.91, for a total value of $79,125.06. Following the completion of the sale, the director directly owned 34,508 shares of the company’s stock, valued at $2,826,550.28. This represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 580,622 shares of company stock worth $49,350,788 in the last ninety days. Company 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.