abrdn plc Buys 24,247 Shares of Zillow Group, Inc. (NASDAQ:Z)

abrdn plc raised its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 98.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,990 shares of the financial services provider's stock after purchasing an additional 24,247 shares during the quarter. abrdn plc's holdings in Zillow Group were worth $3,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of Z. Vanguard Group Inc. increased its position in shares of Zillow Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 21,313,573 shares of the financial services provider's stock valued at $1,039,676,000 after acquiring an additional 176,449 shares during the last quarter. Capital World Investors grew its stake in Zillow Group by 2.8% in the 1st quarter. Capital World Investors now owns 8,846,232 shares of the financial services provider's stock valued at $431,519,000 after purchasing an additional 238,554 shares during the period. Dorsal Capital Management LP increased its position in shares of Zillow Group by 59.8% during the 2nd quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider's stock valued at $143,809,000 after purchasing an additional 1,160,000 shares during the last quarter. Greencape Capital Pty Ltd raised its stake in shares of Zillow Group by 93.0% during the 1st quarter. Greencape Capital Pty Ltd now owns 1,632,790 shares of the financial services provider's stock worth $79,647,000 after purchasing an additional 786,600 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Zillow Group by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,423,257 shares of the financial services provider's stock worth $66,032,000 after buying an additional 139,489 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Insider Activity

In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the firm's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the sale, the chairman now owns 582 shares of the company's stock, valued at $29,583.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the company's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now directly owns 582 shares in the company, valued at approximately $29,583.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of the business's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now owns 5,652 shares in the company, valued at $379,983.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,999 shares of company stock valued at $11,780,363. 23.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on Z shares. Wedbush raised shares of Zillow Group from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Cantor Fitzgerald raised Zillow Group to a "hold" rating in a report on Thursday, September 5th. Craig Hallum raised shares of Zillow Group to a "strong-buy" rating in a report on Thursday, August 8th. UBS Group raised shares of Zillow Group to a "strong-buy" rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group lifted their price objective on shares of Zillow Group from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $70.33.

Zillow Group Price Performance

Shares of Z traded up $0.81 during midday trading on Monday, reaching $60.61. The stock had a trading volume of 2,835,519 shares, compared to its average volume of 3,731,506. The company has a market capitalization of $14.03 billion, a price-to-earnings ratio of -98.03 and a beta of 1.95. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group, Inc. has a 12-month low of $35.44 and a 12-month high of $68.73. The company's 50-day moving average is $60.65 and its 200 day moving average is $51.27.

Zillow Group (NASDAQ:Z - Get Free Report) last released its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.13. The company had revenue of $572.00 million for the quarter, compared to analyst estimates of $539.74 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. On average, equities analysts predict that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

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.