Plato Investment Management Ltd Grows Stake in Zillow Group, Inc. (NASDAQ:Z)

Plato Investment Management Ltd boosted its stake in Zillow Group, Inc. (NASDAQ:Z) by 475.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,531 shares of the financial services provider’s stock after buying an additional 2,091 shares during the quarter. Plato Investment Management Ltd’s holdings in Zillow Group were worth $188,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new position in Zillow Group in the 3rd quarter valued at $204,000. First Trust Direct Indexing L.P. acquired a new stake in shares of Zillow Group in the third quarter valued at about $215,000. Gladstone Institutional Advisory LLC purchased a new position in shares of Zillow Group in the third quarter worth about $213,000. Forum Financial Management LP purchased a new position in shares of Zillow Group in the third quarter worth about $261,000. Finally, Entropy Technologies LP acquired a new position in Zillow Group during the third quarter worth about $1,370,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Jennifer Rock sold 3,033 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $82.78, for a total transaction of $251,071.74. Following the transaction, the chief accounting officer now owns 57,166 shares in the company, valued at $4,732,201.48. This trade represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 1,612 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the transaction, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at $8,443,782.76. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,098 shares of company stock valued at $7,911,237 over the last three months. Company insiders own 23.76% of the company’s stock.

Zillow Group Trading Up 0.2 %

Shares of Zillow Group stock opened at $74.43 on Wednesday. The company has a fifty day moving average price of $78.22 and a 200 day moving average price of $70.96. Zillow Group, Inc. has a twelve month low of $38.45 and a twelve month high of $89.39. The stock has a market cap of $18.05 billion, a price-to-earnings ratio of -158.36, a price-to-earnings-growth ratio of 9.24 and a beta of 2.03.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. Analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on Z. Deutsche Bank Aktiengesellschaft raised their target price on shares of Zillow Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley upped their target price on Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Baird R W upgraded Zillow Group to a “hold” rating in a report on Friday, January 31st. Wedbush reissued an “outperform” rating and set a $100.00 price target on shares of Zillow Group in a research report on Wednesday, February 12th. Finally, KeyCorp upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

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.