NewEdge Wealth LLC Boosts Stock Position in Zillow Group, Inc. (NASDAQ:Z)

NewEdge Wealth LLC boosted its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 194,789 shares of the financial services provider's stock after purchasing an additional 29,067 shares during the quarter. NewEdge Wealth LLC owned about 0.08% of Zillow Group worth $14,424,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its stake in Zillow Group by 179.5% in the third quarter. FMR LLC now owns 5,095,336 shares of the financial services provider's stock valued at $325,337,000 after acquiring an additional 3,272,118 shares during the period. Groupama Asset Managment acquired a new stake in Zillow Group in the third quarter valued at approximately $83,005,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Zillow Group in the third quarter valued at approximately $38,310,000. Bridgewater Associates LP grew its stake in Zillow Group by 428.2% in the third quarter. Bridgewater Associates LP now owns 523,772 shares of the financial services provider's stock valued at $33,443,000 after acquiring an additional 424,615 shares during the period. Finally, International Assets Investment Management LLC grew its stake in Zillow Group by 8,162.8% in the third quarter. International Assets Investment Management LLC now owns 246,397 shares of the financial services provider's stock valued at $15,732,000 after acquiring an additional 243,415 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Z has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Zillow Group from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. KeyCorp raised Zillow Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, February 2nd. Wedbush reaffirmed an "outperform" rating and set a $100.00 target price on shares of Zillow Group in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Zillow Group in a research report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Zillow Group presently has a consensus rating of "Moderate Buy" and an average price target of $82.00.

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Insider Activity at Zillow Group

In related news, COO Jun Choo sold 1,277 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $99,248.44. Following the completion of the sale, the chief operating officer now directly owns 86,853 shares in the company, valued at $6,750,215.16. This represents a 1.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeremy Hofmann sold 23,388 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.98, for a total value of $1,987,512.24. Following the sale, the chief financial officer now owns 99,362 shares of the company's stock, 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 three months, insiders have sold 44,098 shares of company stock worth $3,611,337. 23.76% of the stock is owned by company insiders.

Zillow Group Price Performance

Shares of Z traded up $0.34 during mid-day trading on Friday, hitting $76.66. The stock had a trading volume of 2,845,306 shares, compared to its average volume of 2,856,046. The firm has a market cap of $18.59 billion, a P/E ratio of -163.11, a PEG ratio of 9.24 and a beta of 2.03. The business has a fifty day moving average price of $78.27 and a 200-day moving average price of $70.57. Zillow Group, Inc. has a 52 week low of $38.45 and a 52 week high of $89.39.

Zillow Group (NASDAQ:Z - Get Free Report) last issued its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (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%. As a group, research analysts expect that Zillow Group, Inc. will post 0.32 earnings per share 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.