Teacher Retirement System of Texas Acquires 1,572 Shares of Zillow Group, Inc. $Z

Teacher Retirement System of Texas raised its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 6.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 24,875 shares of the financial services provider’s stock after purchasing an additional 1,572 shares during the period. Teacher Retirement System of Texas’ holdings in Zillow Group were worth $1,742,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Zillow Group by 7.8% during the first quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider’s stock valued at $1,548,767,000 after purchasing an additional 1,628,577 shares in the last quarter. Independent Franchise Partners LLP lifted its holdings in Zillow Group by 2.5% during the first quarter. Independent Franchise Partners LLP now owns 11,153,697 shares of the financial services provider’s stock worth $764,697,000 after buying an additional 271,084 shares during the period. Ninety One UK Ltd lifted its holdings in Zillow Group by 17.4% during the second quarter. Ninety One UK Ltd now owns 4,731,948 shares of the financial services provider’s stock worth $331,473,000 after buying an additional 702,445 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Zillow Group by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,584,537 shares of the financial services provider’s stock valued at $108,636,000 after acquiring an additional 45,828 shares in the last quarter. Finally, Altimeter Capital Management LP increased its holdings in shares of Zillow Group by 1.8% in the 1st quarter. Altimeter Capital Management LP now owns 1,323,554 shares of the financial services provider’s stock valued at $90,743,000 after acquiring an additional 22,816 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Activity

In other Zillow Group 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 value of $2,249,750.00. Following the sale, the chief financial officer directly 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director April Underwood sold 3,621 shares of the firm’s stock in a transaction 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 owned 483 shares in the company, valued at $43,527.96. The trade was a 88.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 657,087 shares of company stock valued at $56,286,479. 23.76% of the stock is owned by corporate insiders.

Zillow Group Price Performance

Shares of NASDAQ Z opened at $74.67 on Tuesday. The company has a market cap of $18.09 billion, a price-to-earnings ratio of -533.32, a price-to-earnings-growth ratio of 25.64 and a beta of 2.11. The stock’s 50-day moving average is $79.47 and its two-hundred day moving average is $75.31. Zillow Group, Inc. has a 1-year low of $57.51 and a 1-year high of $93.88.

Wall Street Analyst Weigh In

Z has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their price objective on Zillow Group from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Monday. Gordon Haskett upgraded shares of Zillow Group to a “strong-buy” rating in a report on Friday, October 3rd. Bank of America increased their price target on shares of Zillow Group from $81.00 to $88.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, October 8th. Finally, Oppenheimer began coverage on shares of Zillow Group in a research note on Monday, October 6th. They set a “market perform” rating for the company. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and an average target price of $91.14.

About Zillow Group

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.