Ninety One SA PTY Ltd Increases Stake in Zillow Group, Inc.

Ninety One SA PTY Ltd has increased its investment in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 10.4% during the fourth quarter, as indicated in its latest 13F filing with the SEC. The firm now holds 48,988 shares of the well-known financial services provider's stock, following the acquisition of an additional 4,606 shares during this timeframe. At the conclusion of the reporting period, the value of Ninety One SA PTY Ltd's holdings in Zillow Group was approximately $3,628,000.

Institutional Investments in Zillow Group

Other institutional investors have also been active in adjusting their positions with Zillow Group shares. FMR LLC significantly raised its holdings by 179.5% in the third quarter, amassing 5,095,336 shares, valued at around $325,337,000 after acquiring another 3,272,118 shares. Groupama Asset Management also entered the picture by purchasing a new stake valued at $83,005,000 during the same quarter.

Moreover, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Zillow Group worth $38,310,000, while Bridgewater Associates LP increased its stake by an impressive 428.2%, owning now 523,772 shares valued at about $33,443,000. International Assets Investment Management LLC showed even more substantial growth, upping its holdings by 8,162.8% and holding 246,397 shares valued at around $15,732,000. Notably, institutional investors currently own 71.01% of the outstanding shares of Zillow Group.

Insider Activities

In recent insider trading news, General Counsel Bradley D. Owens executed a sale of 1,212 shares on November 13th at an average price of $73.98, totaling approximately $89,663.76. Following this transaction, Owens's direct ownership in the company decreased to 31,739 shares, valued at around $2,348,051.22. This sale, which reflects a 3.68% reduction in ownership, was disclosed in a filing with the Securities & Exchange Commission. Similarly, CFO Jeremy Hofmann also sold shares, transferring 1,612 shares on January 28th, valued at $136,987.76, which led to a slight ownership decline of 1.60%.

In the last 90 days, insiders sold a total of 164,689 shares, amounting to $12,520,379 worth of company stock. There is currently a 23.76% ownership of Zillow Group stock among corporate insiders.

Zillow Group Performance Overview

As for stock performance, shares of Zillow Group (Z) opened at $84.45 recently. The stock is observed to have a fifty-day simple moving average of $78.59 and a two-hundred-day simple moving average of $66.74. Over the past year, Zillow Group has seen a low of $38.45 and a high of $86.88. The company’s market capitalization stands at about $19.72 billion, with a PE ratio of -148.16 and a PEG ratio of 11.41.

Analyst Ratings and Projections

Various equity research analysts have shared their insights regarding Zillow Group. Needham & Company LLC maintained a "hold" rating for the shares in a report published on November 7th. In contrast, Bank of America adjusted its target price from $54.00 to $71.00, assigning a "neutral" rating in its report from October 18th. Morgan Stanley raised the target price from $60.00 to $75.00 while indicating an "equal weight" rating on January 13th. KeyCorp recommended an upgrade from hold to a "strong-buy" rating, and Baird R W also assigned a "hold" rating in their January 31st report.

Across the board, five investment analysts rate Zillow Group as a hold, four as a buy, and three suggest a strong buy, giving it an overall average rating of "Moderate Buy" with a consensus price target of $72.83.

About Zillow Group

Zillow Group, Inc. operates various real estate brands across mobile applications and websites throughout the United States. The company provides several services, including the premier agent and rentals marketplace, new construction marketplace, advertising solutions, mortgage origination, and title and escrow services. It also offers technological solutions to enhance business operations.

Zillow, Investment, Stocks