Canada Pension Plan Investment Board Raises Holdings in Zillow Group, Inc. (NASDAQ:Z)

Canada Pension Plan Investment Board increased its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 28.4% in the 2nd quarter, Holdings Channel reports. The firm owned 191,200 shares of the financial services provider’s stock after purchasing an additional 42,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Zillow Group were worth $8,870,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Concord Wealth Partners acquired a new position in Zillow Group during the first quarter worth $26,000. Larson Financial Group LLC boosted its stake in Zillow Group by 364.4% during the second quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after buying an additional 481 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Zillow Group during the first quarter worth $37,000. Mather Group LLC. acquired a new position in Zillow Group during the first quarter worth $62,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in Zillow Group by 77.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,415 shares of the financial services provider’s stock worth $82,000 after buying an additional 618 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Trading Up 2.7 %

Z opened at $67.26 on Wednesday. Zillow Group, Inc. has a one year low of $33.80 and a one year high of $68.73. The company has a market cap of $15.89 billion, a P/E ratio of -97.48 and a beta of 1.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The business’s 50-day simple moving average is $54.01 and its 200-day simple moving average is $48.61.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Craig Hallum raised Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price target on Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald raised Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Finally, Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and upped their price target for the company from $50.00 to $80.00 in a research note on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Zillow Group has an average rating of “Moderate Buy” and an average price target of $63.20.

Insiders Place Their Bets

In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the sale, the chairman now directly owns 582 shares of the company’s stock, valued at approximately $29,583.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the sale, the chairman now directly owns 582 shares of the company’s stock, valued at approximately $29,583.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total value of $159,061.38. Following the completion of the sale, the insider now directly owns 70,342 shares of the company’s stock, valued at $3,740,787.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,999 shares of company stock valued at $11,780,363. 23.76% of the stock is owned by company insiders.

About Zillow Group

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.