IFP Advisors Inc significantly increased its stake in Zillow Group, Inc. (NASDAQ: Z), growing its holdings by 97% in the third quarter. The firm now owns 469,184 shares of the financial services provider, worth $12,729,000, according to its latest SEC filing. This acquisition represents 0.21% of Zillow Group's total shares.
Other institutional investors have also been active in adjusting their positions in Zillow Group. Tiger Global Management LLC increased its holdings by 21.7% during the first quarter, now owning 7,368,957 shares worth $304,927,000. Dimensional Fund Advisors LP boosted its stake by 21.8%, holding 1,896,206 shares valued at $78,461,000. Quantinno Capital Management LP saw a substantial increase of 455.6%, now owning 641,618 shares worth $26,550,000. Swiss National Bank and Hsbc Holdings PLC also expanded their positions by 7.2% and 199.9%, respectively.
Zillow Group's stock opened at $30.82 on Friday, with a 52-week range of $26.67 to $79.40. The company has a market cap of $6.93 billion and a price-to-earnings ratio of 140.10. Institutional investors collectively own 71.01% of the company's stock.
In recent earnings news, Zillow Group reported $0.52 earnings per share for the quarter, surpassing analysts' estimates of $0.45. The company's revenue was $772.00 million, compared to expectations of $758.10 million. However, analysts have given the stock a mixed rating, with an average price target of $57.71.