Edgestream Partners L.P. Has $852,000 Position in Zillow Group, Inc. (NASDAQ:Z)

Edgestream Partners L.P. raised its stake in Zillow Group, Inc. (NASDAQ:Z) by 89.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,359 shares of the financial services provider’s stock after buying an additional 8,660 shares during the period. Edgestream Partners L.P.’s holdings in Zillow Group were worth $852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in Z. Norges Bank bought a new position in Zillow Group during the fourth quarter worth $34,718,000. True Vision MN LLC bought a new position in shares of Zillow Group in the 4th quarter worth about $442,000. Sumitomo Mitsui Trust Holdings Inc. raised its position 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 worth $32,677,000 after acquiring an additional 156,249 shares in the last quarter. Allianz Asset Management GmbH lifted its stake 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 purchasing an additional 18,686 shares during the period. Finally, CenterBook Partners LP bought a new stake in shares of Zillow Group during the 4th quarter valued at about $1,181,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on Z. Cantor Fitzgerald raised shares of Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft increased their target price on Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 9th. UBS Group upgraded shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Finally, Craig Hallum upgraded shares of Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Three 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 stock. Based on data from MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.20.

Insider Transactions at Zillow Group

In other news, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total value of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Jennifer Rock sold 4,050 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the transaction, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Lloyd D. Frink sold 150,000 shares of the company’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 completion of the sale, the chairman now directly owns 582 shares of the company’s stock, valued at approximately $29,583.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,999 shares of company stock valued at $11,780,363. 23.76% of the stock is owned by corporate insiders.

Zillow Group Stock Down 1.1 %

Shares of NASDAQ Z opened at $67.09 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The company has a market cap of $15.53 billion, a P/E ratio of -97.23 and a beta of 1.94. Zillow Group, Inc. has a 52 week low of $33.80 and a 52 week high of $68.73. The business has a 50-day simple moving average of $53.47 and a two-hundred day simple moving average of $48.53.

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