Forum Financial Management LP Makes New Investment in Zillow Group, Inc. (NASDAQ:Z)

Forum Financial Management LP acquired a new position in Zillow Group, Inc. (NASDAQ:Z) in the third quarter, HoldingsChannel reports. The institutional investor acquired 4,086 shares of the financial services provider’s stock, valued at approximately $261,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dorsal Capital Management LP raised its stake in Zillow Group by 59.8% during the 2nd quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider’s stock valued at $143,809,000 after purchasing an additional 1,160,000 shares during the period. Natixis purchased a new position in shares of Zillow Group in the first quarter worth $41,129,000. Greencape Capital Pty Ltd boosted its position in shares of Zillow Group by 93.0% during the first quarter. Greencape Capital Pty Ltd now owns 1,632,790 shares of the financial services provider’s stock worth $79,647,000 after acquiring an additional 786,600 shares during the last quarter. Coronation Fund Managers Ltd. grew its stake in Zillow Group by 238.9% during the second quarter. Coronation Fund Managers Ltd. now owns 864,733 shares of the financial services provider’s stock valued at $40,115,000 after acquiring an additional 609,575 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Zillow Group by 8,162.8% in the 3rd quarter. International Assets Investment Management LLC now owns 246,397 shares of the financial services provider’s stock valued at $15,732,000 after acquiring an additional 243,415 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on Z. Jefferies Financial Group raised their price objective on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. UBS Group upgraded Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Bank of America increased their price objective on shares of Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

Zillow Group Trading Up 3.6 %

Z stock opened at $62.80 on Wednesday. Zillow Group, Inc. has a twelve month low of $35.44 and a twelve month high of $68.73. The stock has a market capitalization of $14.53 billion, a price-to-earnings ratio of -102.95 and a beta of 1.95. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm’s fifty day simple moving average is $60.82 and its two-hundred day simple moving average is $51.55.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.13. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate of $539.74 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. As a group, analysts anticipate that Zillow Group, Inc. will post -0.33 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares of the company’s stock, valued at $3,923,335.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Jennifer Rock sold 4,050 shares of Zillow Group stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the sale, the chief accounting officer now owns 79,694 shares in the company, valued at $3,923,335.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the transaction, the director now owns 5,652 shares in the company, valued at $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock worth $11,780,363 over the last 90 days. Company insiders own 23.76% of the company’s stock.

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.