Optas LLC Makes New $315,000 Investment in Zillow Group, Inc. (NASDAQ:Z)

Optas LLC bought a new stake in shares of Zillow Group, Inc. (NASDAQ:Z) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,930 shares of the financial services provider’s stock, valued at approximately $315,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in 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 worth $32,677,000 after acquiring an additional 156,249 shares in the last quarter. Prudential PLC purchased a new position in Zillow Group during the 2nd quarter worth $474,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Zillow Group by 32.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 85,233 shares of the financial services provider’s stock worth $4,158,000 after purchasing an additional 20,729 shares during the period. Empowered Funds LLC lifted its holdings in shares of Zillow Group by 14.6% in the 1st quarter. Empowered Funds LLC now owns 4,752 shares of the financial services provider’s stock worth $232,000 after buying an additional 606 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Zillow Group by 10.3% during the 1st quarter. Nordea Investment Management AB now owns 10,721 shares of the financial services provider’s stock worth $534,000 after buying an additional 1,003 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. UBS Group upgraded Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Bank of America raised their price target on Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price target on Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $50.00 to $80.00 in a research note on Monday, September 16th. Finally, Jefferies Financial Group lifted their target price on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

Zillow Group Trading Down 0.5 %

Zillow Group stock opened at $59.80 on Monday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group, Inc. has a 52 week low of $33.80 and a 52 week high of $68.73. The company has a market capitalization of $13.84 billion, a price-to-earnings ratio of -98.03 and a beta of 1.95. The stock has a 50-day moving average price of $60.65 and a 200 day moving average price of $51.21.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. The company had revenue of $572.00 million during the quarter, compared to the consensus estimate of $539.74 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. Sell-side analysts anticipate that Zillow Group, Inc. will post -0.33 EPS for the current year.

Insider Activity

In related 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 transaction of $7,624,500.00. Following the completion of the sale, the chairman now directly owns 582 shares in the company, valued at approximately $29,583.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 transaction of $7,624,500.00. Following the completion of the sale, the chairman now directly owns 582 shares in the company, valued at approximately $29,583.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the sale, the director now owns 5,652 shares of the company’s stock, valued at $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock worth $11,780,363 over the last three months. 23.76% of the stock is currently owned by corporate insiders.

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.