Proficio Capital Partners LLC Acquires New Stake in Zillow Group, Inc. (NASDAQ:Z)

Proficio Capital Partners LLC purchased a new position in Zillow Group, Inc. (NASDAQ:Z - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 99,597 shares of the financial services provider's stock, valued at approximately $7,375,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in Z. CIBC Asset Management Inc raised its holdings in shares of Zillow Group by 5.5% during the 3rd quarter. CIBC Asset Management Inc now owns 6,076 shares of the financial services provider's stock valued at $388,000 after buying an additional 318 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in Zillow Group during the third quarter valued at approximately $6,267,000. Swiss National Bank raised its stake in shares of Zillow Group by 0.7% during the third quarter. Swiss National Bank now owns 466,834 shares of the financial services provider's stock worth $29,807,000 after acquiring an additional 3,300 shares in the last quarter. IVY Lane Capital Management LLC lifted its holdings in shares of Zillow Group by 35.0% in the 3rd quarter. IVY Lane Capital Management LLC now owns 135,000 shares of the financial services provider's stock worth $8,620,000 after acquiring an additional 35,000 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Zillow Group in the 3rd quarter valued at $234,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Analyst Ratings Changes

Z has been the topic of a number of analyst reports. Wedbush reiterated an "outperform" rating and issued a $100.00 target price on shares of Zillow Group in a research report on Wednesday, February 12th. Morgan Stanley lifted their price objective on Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 12th. Baird R W upgraded Zillow Group to a "hold" rating in a research report on Friday, January 31st. Finally, KeyCorp upgraded Zillow Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, February 2nd. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Zillow Group currently has a consensus rating of "Moderate Buy" and an average target price of $82.00.

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Zillow Group Trading Up 0.5 %

NASDAQ Z traded up $0.37 on Thursday, hitting $70.94. The company's stock had a trading volume of 2,629,398 shares, compared to its average volume of 3,335,401. Zillow Group, Inc. has a 52-week low of $38.45 and a 52-week high of $89.39. The firm has a market cap of $17.21 billion, a P/E ratio of -151.89, a PEG ratio of 9.24 and a beta of 2.27. The company's 50-day simple moving average is $77.58 and its 200 day simple moving average is $72.24.

Zillow Group (NASDAQ:Z - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. On average, research analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the completion of the transaction, the chief operating officer now owns 86,853 shares of the company's stock, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeremy Hofmann sold 23,388 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the completion of the sale, the chief financial officer now directly owns 99,362 shares in the company, valued at $8,443,782.76. This represents a 19.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,065 shares of company stock valued at $7,660,165. Corporate insiders own 23.76% of the company's stock.

Zillow Group 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.