Edgestream Partners L.P. Purchases 8,660 Shares of Zillow Group, Inc. (NASDAQ:Z)

Edgestream Partners L.P. increased its holdings in Zillow Group, Inc. (NASDAQ:Z) by 89.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,359 shares of the financial services provider’s stock after purchasing an additional 8,660 shares during the quarter. Edgestream Partners L.P.’s holdings in Zillow Group were worth $852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Zillow Group in the 4th quarter worth approximately $34,718,000. True Vision MN LLC purchased a new stake in Zillow Group in the fourth quarter worth $442,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Zillow Group by 30.4% in the first 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 in the last quarter. Allianz Asset Management GmbH increased its position in Zillow Group by 100.7% during 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 position in Zillow Group in the 4th quarter worth $1,181,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Activity at Zillow Group

In related news, insider Dan Spaulding sold 2,991 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the sale, the insider now directly owns 70,342 shares of the company’s stock, valued at $3,740,787.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Dan Spaulding sold 2,991 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total transaction of $159,061.38. Following the transaction, the insider now owns 70,342 shares in the company, valued at $3,740,787.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer Rock sold 4,050 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the sale, the chief accounting officer now owns 79,694 shares in the company, valued at approximately $3,923,335.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,999 shares of company stock valued at $11,780,363. 23.76% of the stock is owned by corporate insiders.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $67.09 on Friday. The company has a market capitalization of $15.53 billion, a PE ratio of -97.23 and a beta of 1.94. The business has a fifty day moving average price of $53.47 and a 200-day moving average price of $48.53. Zillow Group, Inc. has a 1-year low of $33.80 and a 1-year high of $68.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12.

Zillow Group (NASDAQ:Z) last issued 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. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The business had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $539.74 million. As a group, equities analysts expect that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on Z. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 9th. UBS Group upgraded Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and raised their target price for the company from $50.00 to $80.00 in a research note on Monday, September 16th. Cantor Fitzgerald upgraded Zillow Group to a “hold” rating in a research report on Thursday, September 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Thursday, August 8th. Three investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.20.

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.