SVB Wealth LLC Makes New Investment in Zillow Group, Inc. (NASDAQ:Z)

SVB Wealth LLC bought a new stake in Zillow Group, Inc. (NASDAQ:Z) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,049 shares of the financial services provider’s stock, valued at approximately $393,000.

A number of other institutional investors have also recently made changes to their positions in Z. GAMMA Investing LLC acquired a new position in Zillow Group during the fourth quarter worth about $25,000. Concord Wealth Partners acquired a new stake in shares of Zillow Group in the first quarter valued at approximately $26,000. Fidelis Capital Partners LLC purchased a new position in Zillow Group during the first quarter worth approximately $37,000. Principal Securities Inc. acquired a new position in Zillow Group during the fourth quarter worth $53,000. Finally, Mather Group LLC. purchased a new stake in Zillow Group in the 1st quarter valued at $62,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Zillow Group Price Performance

Z traded down $0.78 on Tuesday, hitting $48.36. 459,880 shares of the company were exchanged, compared to its average volume of 3,806,658. The firm has a 50-day moving average price of $46.15 and a two-hundred day moving average price of $48.77. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.21. Zillow Group, Inc. has a twelve month low of $33.80 and a twelve month high of $61.13.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.42). Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. The firm had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $509.30 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. Equities research analysts expect that Zillow Group, Inc. will post -0.42 EPS for the current year.

Insider Buying and Selling

In other news, insider Susan Daimler sold 5,907 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $47.74, for a total transaction of $282,000.18. Following the completion of the sale, the insider now owns 29,665 shares in the company, valued at approximately $1,416,207.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Susan Daimler sold 5,907 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $47.74, for a total value of $282,000.18. Following the completion of the sale, the insider now directly owns 29,665 shares of the company’s stock, valued at approximately $1,416,207.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer Rock sold 2,640 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $44.17, for a total value of $116,608.80. Following the transaction, the chief accounting officer now owns 83,744 shares in the company, valued at approximately $3,698,972.48. The disclosure for this sale can be found here. Insiders sold a total of 60,041 shares of company stock worth $2,637,477 over the last 90 days. 23.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on Z. Wedbush decreased their target price on shares of Zillow Group from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price objective on Zillow Group from $65.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.20.

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.