Resona Asset Management Co. Ltd. Makes New $3.30 Million Investment in Zillow Group, Inc. (NASDAQ:Z)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Zillow Group by 0.8% in the fourth 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 buying an additional 11,727 shares during the period. 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 bought a new stake in Zillow Group in the 4th quarter valued at $1,187,000. Donoghue Forlines LLC acquired a new stake in Zillow Group during the 4th quarter valued at $1,932,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted 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 purchasing an additional 6,900 shares during the period. 71.01% of the stock is owned by institutional investors.

Insider Activity at Zillow Group

In related news, insider Errol G. Samuelson sold 6,967 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $541,475.24. Following the completion of the sale, the insider now directly owns 127,467 shares of the company's stock, valued at $9,906,735.24. The trade was a 5.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeremy Hofmann sold 23,388 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.98, for a total value of $1,987,512.24. Following the completion of the transaction, the chief financial officer now owns 99,362 shares in the company, valued at approximately $8,443,782.76. The trade was a 19.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,919 shares of company stock worth $7,869,478 in the last 90 days. Corporate insiders own 23.76% of the company's stock.

Analyst Upgrades and Downgrades

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

Zillow Group Stock Performance

Shares of NASDAQ:Z traded up $1.20 during mid-day trading on Tuesday, reaching $63.83. 592,563 shares of the company's stock were exchanged, compared to its average volume of 3,379,190. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of -135.62, a PEG ratio of 9.24 and a beta of 2.19. Zillow Group, Inc. has a twelve month low of $38.45 and a twelve month high of $89.39. The business's fifty day moving average price is $73.01 and its 200-day moving average price is $73.22.

Zillow Group (NASDAQ:Z - Get Free Report) last announced its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) EPS 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%. Analysts predict that Zillow Group, Inc. will post 0.32 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.