Contravisory Investment Management Inc. Buys New Stake in Zillow Group, Inc. (NASDAQ:Z)

Contravisory Investment Management Inc. bought a new stake in shares of Zillow Group, Inc. (NASDAQ:Z) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 134,563 shares of the financial services provider’s stock, valued at approximately $6,763,000. Zillow Group makes up 1.8% of Contravisory Investment Management Inc.’s portfolio, making the stock its 27th biggest position. Contravisory Investment Management Inc. owned about 0.06% of Zillow Group as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in Z. Zions Bancorporation N.A. boosted its position in Zillow Group by 371.7% in the 1st quarter. Zions Bancorporation N.A. now owns 500 shares of the financial services provider’s stock valued at $25,000 after buying an additional 394 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in Zillow Group in the 4th quarter valued at about $29,000. Resurgent Financial Advisors LLC purchased a new position in Zillow Group in the 4th quarter valued at about $29,000. Eagle Bay Advisors LLC purchased a new position in Zillow Group in the 2nd quarter valued at about $36,000. Finally, Compagnie Lombard Odier SCmA boosted its position in Zillow Group by 140.8% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,445 shares of the financial services provider’s stock valued at $46,000 after buying an additional 845 shares during the last quarter. Institutional investors and hedge funds own 71.17% of the company’s stock.

Zillow Group Stock Performance

NASDAQ:Z traded down $0.31 during midday trading on Monday, reaching $47.12. The stock had a trading volume of 1,194,280 shares, compared to its average volume of 2,929,045. Zillow Group, Inc. has a 1-year low of $26.14 and a 1-year high of $57.19. The firm’s fifty day simple moving average is $52.63 and its 200-day simple moving average is $47.81. The company has a debt-to-equity ratio of 0.37, a current ratio of 10.90 and a quick ratio of 10.90. The stock has a market capitalization of $10.97 billion, a P/E ratio of -61.26 and a beta of 1.67.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter. Zillow Group had a negative net margin of 9.61% and a negative return on equity of 2.78%. The firm had revenue of $506.00 million for the quarter.

Insider Activity at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 11,568 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $52.89, for a total value of $611,831.52. Following the completion of the transaction, the chief accounting officer now directly owns 75,298 shares of the company’s stock, valued at $3,982,511.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CTO David A. Beitel sold 4,670 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $53.73, for a total transaction of $250,919.10. Following the completion of the transaction, the chief technology officer now owns 131,425 shares in the company, valued at $7,061,465.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer Rock sold 11,568 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $52.89, for a total transaction of $611,831.52. Following the completion of the transaction, the chief accounting officer now owns 75,298 shares of the company’s stock, valued at approximately $3,982,511.22. The disclosure for this sale can be found here. Insiders sold 82,745 shares of company stock valued at $4,313,262 in the last ninety days. Insiders own 15.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of Zillow Group from a “d+” rating to a “c-” rating in a research note on Wednesday, July 19th. Morgan Stanley restated an “equal weight” rating and issued a $55.00 target price on shares of Zillow Group in a research note on Thursday, August 3rd. VNET Group restated an “initiates” rating on shares of Zillow Group in a research note on Tuesday, June 27th. Jefferies Financial Group upped their target price on shares of Zillow Group from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, 51job reiterated an “initiates” rating on shares of Zillow Group in a research note on Tuesday, June 27th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.50.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands on mobile applications and Websites in the United States. The company operates through Internet, Media & Technology (IMT); Mortgages; and Homes segments. Its IMT segment offers premier agent and rentals marketplaces, as well as other services, which includes new construction marketplace, advertising, and business technology solutions, as well as display and dotloop and floor plans.