American Assets Investment Management LLC Takes Position in Zillow Group, Inc. (NASDAQ:Z)

American Assets Investment Management LLC purchased a new stake in shares of Zillow Group, Inc. (NASDAQ:Z) during the 1st quarter, Holdings Channel reports. The fund purchased 6,808 shares of the financial services provider’s stock, valued at approximately $468,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in Z. IFP Advisors Inc lifted its position in shares of Zillow Group by 288.9% during the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 338 shares during the period. GAMMA Investing LLC raised its holdings in shares of Zillow Group by 47.7% in the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 196 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Zillow Group in the first quarter valued at about $49,000. National Bank of Canada FI purchased a new stake in shares of Zillow Group in the fourth quarter valued at about $55,000. Finally, Natixis bought a new position in Zillow Group during the fourth quarter valued at about $80,000. 71.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Zillow Group

In other news, General Counsel Bradley D. Owens sold 3,466 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.96, for a total transaction of $239,015.36. Following the sale, the general counsel directly owned 47,215 shares of the company’s stock, valued at $3,255,946.40. This represents a 6.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dan Spaulding sold 5,534 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $381,735.32. Following the sale, the insider directly owned 68,889 shares in the company, valued at $4,751,963.22. This trade represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,093 shares of company stock worth $6,989,688. Company insiders own 23.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Zillow Group Price Performance

Shares of Z opened at $83.65 on Tuesday. The stock has a market capitalization of $20.20 billion, a price-to-earnings ratio of -246.03, a price-to-earnings-growth ratio of 14.81 and a beta of 2.09. Zillow Group, Inc. has a 1 year low of $41.67 and a 1 year high of $89.39. The business’s 50 day simple moving average is $73.29 and its 200-day simple moving average is $72.51.

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.