Armstrong Fleming & Moore Inc Makes New Investment in Zillow Group, Inc. $Z

Armstrong Fleming & Moore Inc bought a new position in Zillow Group, Inc. (NASDAQ:Z) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,754 shares of the financial services provider’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. IFP Advisors Inc grew its stake in Zillow Group by 288.9% in the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 338 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in Zillow Group by 352.0% in the second quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider’s stock valued at $32,000 after buying an additional 352 shares in the last quarter. National Pension Service grew its position in shares of Zillow Group by 74.8% in the first quarter. National Pension Service now owns 577 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 247 shares during the period. GAMMA Investing LLC lifted its stake in Zillow Group by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 196 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Zillow Group during the first quarter worth about $49,000. 71.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Zillow Group news, insider Dan Spaulding sold 100,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the sale, the insider directly owned 68,889 shares in the company, valued at $5,918,253.99. This represents a 59.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeremy Hofmann sold 25,000 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the completion of the transaction, the chief financial officer directly owned 84,146 shares of the company’s stock, valued at $7,572,298.54. This trade represents a 22.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 657,087 shares of company stock valued at $56,286,479 in the last three months. Insiders own 25.03% of the company’s stock.

Analysts Set New Price Targets

Z has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Zillow Group from $79.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Sanford C. Bernstein raised shares of Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a report on Wednesday, September 17th. Mizuho raised shares of Zillow Group to a “strong-buy” rating in a research note on Monday, September 29th. Finally, Oppenheimer assumed coverage on shares of Zillow Group in a research report on Monday. They issued a “market perform” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.38.

Zillow Group Stock Performance

Shares of NASDAQ Z opened at $71.46 on Thursday. The stock has a market cap of $17.31 billion, a P/E ratio of -274.85, a P/E/G ratio of 24.87 and a beta of 2.13. Zillow Group, Inc. has a 52-week low of $57.00 and a 52-week high of $93.88. The firm has a 50 day moving average price of $82.74 and a 200 day moving average price of $74.18.

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.