Cornerstone Wealth Management LLC Takes Position in Zillow Group, Inc. (NASDAQ:Z)

Cornerstone Wealth Management LLC acquired a new position in shares of Zillow Group, Inc. (NASDAQ:Z) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,336 shares of the financial services provider’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of Z. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Zillow Group by 400.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 400 shares during the last quarter. Concord Wealth Partners acquired a new stake in Zillow Group in the 1st quarter worth approximately $26,000. Larson Financial Group LLC grew its position in Zillow Group by 364.4% during the 2nd quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 481 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Zillow Group during the 1st quarter valued at approximately $37,000. Finally, Mather Group LLC. purchased a new position in shares of Zillow Group in the first quarter worth $62,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley raised their target price on shares of Zillow Group from $46.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Wedbush raised shares of 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 report on Monday, September 16th. Finally, Craig Hallum upgraded Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Four investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.83.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $63.71 on Friday. The stock has a market capitalization of $15.05 billion, a P/E ratio of -92.33 and a beta of 1.95. The business has a 50 day simple moving average of $59.44 and a two-hundred day simple moving average of $50.19. Zillow Group, Inc. has a 12 month low of $33.80 and a 12 month high of $68.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12.

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

Insider Buying and Selling at Zillow Group

In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the transaction, the chairman now directly owns 582 shares of the company’s stock, valued at $29,583.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction 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 sale, the chairman now owns 582 shares in the company, valued at $29,583.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,999 shares of company stock worth $11,780,363 in the last three months. 23.76% of the stock is owned by corporate 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.