Kennondale Capital Management LLC Invests $1.51 Million in Zillow Group, Inc. (NASDAQ:Z)

Kennondale Capital Management LLC purchased a new position in Zillow Group, Inc. (NASDAQ:Z) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 20,333 shares of the financial services provider’s stock, valued at approximately $1,506,000. Zillow Group accounts for 1.2% of Kennondale Capital Management LLC’s holdings, making the stock its 20th largest holding.

A number of other large investors have also bought and sold shares of the stock. Cibc World Markets Corp grew its holdings in Zillow Group by 4.8% in the fourth quarter. Cibc World Markets Corp now owns 51,254 shares of the financial services provider’s stock worth $3,795,000 after purchasing an additional 2,332 shares during the period. American Assets Capital Advisers LLC acquired a new stake in Zillow Group in the fourth quarter worth $504,000. Envestnet Portfolio Solutions Inc. grew its holdings in Zillow Group by 10.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,117 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 467 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Zillow Group by 267.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,480 shares of the financial services provider’s stock worth $14,846,000 after purchasing an additional 145,889 shares during the period. Finally, Avantax Advisory Services Inc. bought a new position in shares of Zillow Group in the fourth quarter valued at $206,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on Z shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley raised their price objective on shares of Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. KeyCorp raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Finally, Wedbush reissued an “outperform” rating and set a $100.00 price target on shares of Zillow Group in a research report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.00.

Zillow Group Price Performance

Z opened at $70.94 on Tuesday. Zillow Group, Inc. has a fifty-two week low of $38.45 and a fifty-two week high of $89.39. The company’s 50-day moving average is $77.65 and its 200 day moving average is $72.15. The firm has a market capitalization of $17.21 billion, a P/E ratio of -150.94, a PEG ratio of 9.24 and a beta of 2.27.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. On average, equities research analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Jun Choo sold 55,000 shares of Zillow Group stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the transaction, the chief operating officer now owns 86,853 shares in the company, valued at $6,790,167.54. This trade represents a 38.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Errol G. Samuelson sold 6,967 shares of Zillow Group stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $541,475.24. Following the completion of the transaction, the insider now owns 127,467 shares of the company’s stock, valued at $9,906,735.24. The trade was a 5.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,065 shares of company stock worth $7,660,165. Insiders own 23.76% of the company’s stock.

Zillow Group Company Profile

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.