Legacy Capital Group California Inc. Buys New Shares in Zillow Group, Inc. (NASDAQ:Z)

Legacy Capital Group California Inc. bought a new stake in Zillow Group, Inc. (NASDAQ:Z) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,530 shares of the financial services provider’s stock, valued at approximately $429,000.

Several other institutional investors have also recently added to or reduced their stakes in Z. Raymond James Financial Services Advisors Inc. increased its stake in Zillow Group by 7.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 25,595 shares of the financial services provider’s stock valued at $1,262,000 after purchasing an additional 1,839 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Zillow Group by 38.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,878 shares of the financial services provider’s stock worth $487,000 after acquiring an additional 2,746 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Zillow Group during the first quarter worth about $531,000. Great West Life Assurance Co. Can increased its stake in Zillow Group by 52.5% during the first quarter. Great West Life Assurance Co. Can now owns 102,746 shares of the financial services provider’s stock worth $5,368,000 after acquiring an additional 35,379 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Zillow Group by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 671,137 shares of the financial services provider’s stock worth $33,103,000 after acquiring an additional 9,463 shares during the last quarter. 71.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zillow Group

In other news, Director Erik C. Blachford sold 21,855 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $37.55, for a total value of $820,655.25. Following the completion of the transaction, the director now directly owns 27,164 shares in the company, valued at $1,020,008.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Jeremy Wacksman sold 3,125 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $40.72, for a total transaction of $127,250.00. Following the completion of the sale, the chief operating officer now directly owns 73,965 shares in the company, valued at $3,011,854.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Erik C. Blachford sold 21,855 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $37.55, for a total value of $820,655.25. Following the completion of the transaction, the director now directly owns 27,164 shares in the company, valued at approximately $1,020,008.20. The disclosure for this sale can be found here. Insiders sold 68,505 shares of company stock worth $2,943,479 in the last 90 days. Corporate insiders own 15.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on Z. Morgan Stanley decreased their target price on Zillow Group from $55.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 7th. Wells Fargo & Company increased their price target on Zillow Group from $50.00 to $55.00 in a report on Friday, August 4th. Jefferies Financial Group increased their price target on Zillow Group from $55.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Finally, TheStreet downgraded Zillow Group from a “c-” rating to a “d+” rating in a report on Thursday, October 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.75.

Zillow Group Stock Performance

Shares of Zillow Group stock traded down $1.62 on Friday, reaching $39.09. 3,963,537 shares of the company were exchanged, compared to its average volume of 4,429,327. Zillow Group, Inc. has a 1-year low of $31.10 and a 1-year high of $57.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.84 and a current ratio of 3.84. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of -58.34 and a beta of 1.73. The company’s 50-day moving average is $42.32 and its two-hundred day moving average is $47.22.

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.