Picton Mahoney Asset Management Acquires New Shares in Zillow Group, Inc. (NASDAQ:Z)

Picton Mahoney Asset Management acquired a new position in Zillow Group, Inc. (NASDAQ:Z) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 67,959 shares of the financial services provider’s stock, valued at approximately $4,661,000.

Several other large investors also recently bought and sold shares of the business. Ninety One UK Ltd lifted its holdings in shares of Zillow Group by 11.4% during the 1st quarter. Ninety One UK Ltd now owns 4,029,503 shares of the financial services provider’s stock valued at $276,263,000 after buying an additional 411,742 shares during the period. Dorsal Capital Management LP increased its position in Zillow Group by 4.7% during the fourth quarter. Dorsal Capital Management LP now owns 3,350,000 shares of the financial services provider’s stock valued at $248,068,000 after acquiring an additional 150,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Zillow Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,878,124 shares of the financial services provider’s stock valued at $212,745,000 after acquiring an additional 28,728 shares during the period. Dimensional Fund Advisors LP boosted its position in Zillow Group by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,540,831 shares of the financial services provider’s stock worth $114,109,000 after purchasing an additional 65,724 shares during the last quarter. Finally, Altimeter Capital Management LP boosted its position in Zillow Group by 52.0% in the fourth quarter. Altimeter Capital Management LP now owns 1,300,738 shares of the financial services provider’s stock worth $96,320,000 after purchasing an additional 445,158 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on Z. Wedbush reaffirmed an “outperform” rating and set a $100.00 price target on shares of Zillow Group in a research report on Monday, May 5th. Wells Fargo & Company raised shares of Zillow Group to a “hold” rating in a report on Monday, April 28th. JPMorgan Chase & Co. dropped their price target on shares of Zillow Group from $93.00 to $79.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Keefe, Bruyette & Woods reduced their price objective on Zillow Group from $80.00 to $76.00 and set a “market perform” rating for the company in a research note on Wednesday, May 7th. Finally, William Blair started coverage on Zillow Group in a report on Monday, April 21st. They issued a “market perform” rating on the stock. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.71.

Zillow Group Stock Down 2.4%

NASDAQ:Z opened at $79.84 on Wednesday. The business’s 50-day simple moving average is $71.84 and its two-hundred day simple moving average is $72.30. Zillow Group, Inc. has a 52 week low of $41.67 and a 52 week high of $89.39. The stock has a market cap of $19.28 billion, a PE ratio of -234.82, a P/E/G ratio of 15.11 and a beta of 2.11.

Insider Activity

In related news, CEO Jeremy Wacksman sold 10,984 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $757,676.32. Following the completion of the transaction, the chief executive officer directly owned 171,517 shares of the company’s stock, valued at approximately $11,831,242.66. This trade represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Bradley D. Owens sold 3,466 shares of Zillow Group stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.96, for a total transaction of $239,015.36. Following the completion of the sale, the general counsel owned 47,215 shares in the company, valued at approximately $3,255,946.40. This represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,093 shares of company stock valued at $6,989,688 in the last three months. 23.76% of the stock is currently owned by 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.