Mark Asset Management LP Buys New Shares in Zillow Group, Inc. (NASDAQ:Z)

Mark Asset Management LP bought a new stake in Zillow Group, Inc. (NASDAQ:Z) during the second quarter, HoldingsChannel reports. The fund bought 60,220 shares of the financial services provider’s stock, valued at approximately $2,794,000.

A number of other institutional investors have also added to or reduced their stakes in the company. MBB Public Markets I LLC bought a new position in shares of Zillow Group during the second quarter valued at about $499,000. Dorsal Capital Management LP grew its stake in shares of Zillow Group by 59.8% during the second quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider’s stock valued at $143,809,000 after buying an additional 1,160,000 shares during the last quarter. APG Asset Management N.V. grew its stake in shares of Zillow Group by 182.4% during the second quarter. APG Asset Management N.V. now owns 21,058 shares of the financial services provider’s stock valued at $911,000 after buying an additional 13,600 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Zillow Group by 63.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,145 shares of the financial services provider’s stock valued at $1,398,000 after buying an additional 11,725 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Zillow Group by 6.2% during the second quarter. Public Sector Pension Investment Board now owns 15,778 shares of the financial services provider’s stock valued at $732,000 after buying an additional 916 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Zillow Group to a “hold” rating in a report on Thursday, September 5th. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and increased their target price 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 research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.20.

Insiders Place Their Bets

In other Zillow Group news, General Counsel Bradley D. Owens sold 752 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total transaction of $39,953.76. Following the completion of the transaction, the general counsel now owns 35,259 shares of the company’s stock, valued at $1,873,310.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Jennifer Rock sold 4,050 shares of Zillow Group stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares in the company, valued at approximately $3,923,335.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Bradley D. Owens sold 752 shares of Zillow Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the transaction, the general counsel now owns 35,259 shares in the company, valued at approximately $1,873,310.67. 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. Company insiders own 23.76% of the company’s stock.

Zillow Group Stock Performance

Shares of Z opened at $65.53 on Friday. 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, Inc. has a one year low of $33.80 and a one year high of $68.73. The company has a 50-day simple moving average of $54.58 and a two-hundred day simple moving average of $48.85. The firm has a market capitalization of $15.48 billion, a PE ratio of -94.97 and a beta of 1.94.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) 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 analyst estimates of $539.74 million. On average, analysts anticipate that Zillow Group, Inc. will post -0.33 EPS 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.