Zillow Group, Inc. $Z Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its holdings in Zillow Group, Inc. (NASDAQ:Z) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,903 shares of the financial services provider’s stock after acquiring an additional 652 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Zillow Group were worth $554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jump Financial LLC purchased a new position in Zillow Group during the first quarter valued at $334,000. American Assets Investment Management LLC purchased a new position in shares of Zillow Group in the first quarter worth about $468,000. Alberta Investment Management Corp purchased a new position in Zillow Group during the first quarter worth about $3,661,000. Cerity Partners LLC raised its stake in Zillow Group by 67.0% during the first quarter. Cerity Partners LLC now owns 20,475 shares of the financial services provider’s stock worth $1,404,000 after purchasing an additional 8,215 shares during the period. Finally, G&S Capital LLC raised its stake in Zillow Group by 132.2% during the first quarter. G&S Capital LLC now owns 33,933 shares of the financial services provider’s stock worth $2,326,000 after purchasing an additional 19,319 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Jeremy Hofmann sold 25,000 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the completion of the sale, the chief financial officer owned 84,146 shares of the company’s stock, valued at approximately $7,572,298.54. This represents a 22.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director April Underwood sold 3,621 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $90.12, for a total transaction of $326,324.52. Following the completion of the sale, the director directly owned 483 shares of the company’s stock, valued at $43,527.96. This trade represents a 88.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 657,087 shares of company stock worth $56,286,479. Insiders own 23.76% of the company’s stock.

Zillow Group Stock Performance

Z opened at $69.76 on Tuesday. The firm has a 50 day moving average price of $82.08 and a 200 day moving average price of $74.19. The company has a market cap of $16.90 billion, a PE ratio of -268.31, a price-to-earnings-growth ratio of 23.83 and a beta of 2.13. Zillow Group, Inc. has a 1 year low of $57.00 and a 1 year high of $93.88.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on Z shares. JPMorgan Chase & Co. lifted their price target on shares of Zillow Group from $79.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Sanford C. Bernstein upgraded shares of Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a report on Wednesday, September 17th. Oppenheimer started coverage on shares of Zillow Group in a research note on Monday, October 6th. They issued a “market perform” rating for the company. Mizuho upgraded shares of Zillow Group to a “strong-buy” rating in a research note on Monday, September 29th. Finally, Gordon Haskett upgraded shares of Zillow Group to a “strong-buy” rating in a research report on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.38.

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.