Daiwa Securities Group Inc. Increases Stock Holdings in Zillow Group, Inc. (NASDAQ:Z)

Daiwa Securities Group Inc. grew its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 8.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,836 shares of the financial services provider’s stock after acquiring an additional 800 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Zillow Group were worth $503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concord Wealth Partners bought a new stake in shares of Zillow Group in the 1st quarter valued at approximately $26,000. Larson Financial Group LLC raised its stake in shares of Zillow Group by 364.4% in the 2nd quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after buying an additional 481 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Zillow Group during the first quarter valued at approximately $37,000. Principal Securities Inc. acquired a new position in shares of Zillow Group in the 4th quarter worth $53,000. Finally, Mather Group LLC. purchased a new stake in Zillow Group during the first quarter valued at about $62,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Trading Up 4.8 %

NASDAQ Z opened at $62.59 on Tuesday. The company has a market cap of $14.49 billion, a price-to-earnings ratio of -90.71 and a beta of 1.94. 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 $63.05. The business has a 50 day moving average price of $51.80 and a 200-day moving average price of $48.16.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $572.00 million during the quarter, compared to analyst estimates of $539.74 million. As a group, equities analysts expect that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on Z. Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Thursday, August 8th. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $80.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their target price on Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, UBS Group raised 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 assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.20.

Insiders Place Their Bets

In other news, insider Susan Daimler sold 3,484 shares of Zillow Group stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total transaction of $188,763.12. Following the sale, the insider now owns 22,464 shares of the company’s stock, valued at approximately $1,217,099.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Lloyd D. Frink sold 150,000 shares of the stock in a transaction dated 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 owns 582 shares in the company, valued at $29,583.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Daimler sold 3,484 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the sale, the insider now owns 22,464 shares in the company, valued at $1,217,099.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 198,548 shares of company stock valued at $10,221,048. 23.76% of the stock is currently owned by corporate insiders.

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.