Pekin Hardy Strauss Inc. Makes New Investment in Zillow Group, Inc. (NASDAQ:Z)

Pekin Hardy Strauss Inc. bought a new position in shares of Zillow Group, Inc. (NASDAQ:Z) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,675 shares of the financial services provider’s stock, valued at approximately $634,000.

Several other large investors also recently bought and sold shares of Z. Norges Bank purchased a new stake in shares of Zillow Group in the 4th quarter valued at $34,718,000. True Vision MN LLC purchased a new stake in shares of Zillow Group in the 4th quarter valued at $442,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Zillow Group by 30.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 669,892 shares of the financial services provider’s stock valued at $32,677,000 after acquiring an additional 156,249 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Zillow Group by 100.7% in the 4th quarter. Allianz Asset Management GmbH now owns 37,248 shares of the financial services provider’s stock valued at $2,155,000 after acquiring an additional 18,686 shares during the last quarter. Finally, CenterBook Partners LP purchased a new stake in shares of Zillow Group in the 4th quarter valued at $1,181,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on Z. UBS Group raised shares of Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $80.00 in a report on Monday. Finally, Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.20.

Zillow Group Price Performance

Z opened at $62.81 on Wednesday. Zillow Group, Inc. has a one year low of $33.80 and a one year high of $64.24. The business’s 50 day moving average price is $52.11 and its 200 day moving average price is $48.21. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm had revenue of $572.00 million for the quarter, compared to analysts’ expectations of $539.74 million. On average, research analysts forecast that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the sale, the chairman now owns 582 shares of the company’s stock, valued at $29,583.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the sale, the chairman now owns 582 shares of the company’s stock, valued at $29,583.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thielke Claire Cormier sold 2,826 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.11, for a total value of $172,696.86. Following the sale, the director now directly owns 2,826 shares in the company, valued at approximately $172,696.86. The disclosure for this sale can be found here. Insiders have sold a total of 201,374 shares of company stock valued at $10,393,745 over the last quarter. 23.76% of the stock is owned by company insiders.

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.