abrdn plc Acquires 24,247 Shares of Zillow Group, Inc. (NASDAQ:Z)

abrdn plc grew its holdings in Zillow Group, Inc. (NASDAQ:Z) by 98.0% in the 3rd quarter, Holdings Channel reports. The fund owned 48,990 shares of the financial services provider’s stock after purchasing an additional 24,247 shares during the quarter. abrdn plc’s holdings in Zillow Group were worth $3,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Larson Financial Group LLC grew its position in Zillow Group by 364.4% during the second 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. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Zillow Group by 400.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 400 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Zillow Group during the 3rd quarter worth approximately $35,000. Fidelis Capital Partners LLC bought a new stake in shares of Zillow Group during the first quarter valued at approximately $37,000. Finally, Blue Trust Inc. raised its stake in shares of Zillow Group by 66.3% in the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 313 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on Z shares. Cantor Fitzgerald upgraded shares of Zillow Group to a “hold” rating in a research note on Thursday, September 5th. 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 report on Friday, August 9th. Bank of America increased their price target on shares of Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley lifted their price objective on Zillow Group from $46.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Thursday, August 8th. Four research 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.33.

Zillow Group Stock Performance

NASDAQ Z opened at $59.80 on Monday. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of -98.03 and a beta of 1.95. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group, Inc. has a 1-year low of $33.80 and a 1-year high of $68.73. The company has a 50 day moving average of $60.65 and a 200-day moving average of $51.21.

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

Insider Activity

In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now directly owns 582 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction 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 approximately $379,983.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,999 shares of company stock worth $11,780,363. 23.76% of the stock is owned by corporate insiders.

Zillow Group 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.