Synovus Financial Corp Acquires Shares of 4,870 Zillow Group, Inc. (NASDAQ:Z)

Synovus Financial Corp bought a new position in shares of Zillow Group, Inc. (NASDAQ:Z) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,870 shares of the financial services provider’s stock, valued at approximately $311,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC raised its position in Zillow Group by 2.4% in the 3rd quarter. Brighton Jones LLC now owns 6,953 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 166 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Zillow Group by 0.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 41,430 shares of the financial services provider’s stock valued at $2,645,000 after buying an additional 198 shares during the period. Doliver Advisors LP raised its position in shares of Zillow Group by 3.3% during the third quarter. Doliver Advisors LP now owns 9,681 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 310 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Zillow Group by 66.3% during the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 313 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Zillow Group by 5.5% in the third quarter. CIBC Asset Management Inc now owns 6,076 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 318 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on Z shares. Bank of America lifted their price target on shares of Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and upped their target price for the company from $50.00 to $80.00 in a research report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Thursday, November 7th. Morgan Stanley lifted their price objective on Zillow Group from $46.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Cantor Fitzgerald raised Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

Insider Buying and Selling at Zillow Group

In related news, CAO Jennifer Rock sold 3,187 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $74.00, for a total transaction of $235,838.00. Following the sale, the chief accounting officer now owns 69,649 shares of the company’s stock, valued at $5,154,026. This represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Bradley D. Owens sold 1,212 shares of Zillow Group stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total value of $89,663.76. Following the completion of the transaction, the general counsel now directly owns 31,739 shares of the company’s stock, valued at $2,348,051.22. This represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 139,689 shares of company stock valued at $10,395,879 in the last quarter. 23.76% of the stock is currently owned by insiders.

Zillow Group Stock Performance

NASDAQ Z opened at $75.47 on Thursday. The firm’s fifty day moving average price is $72.01 and its two-hundred day moving average price is $59.40. Zillow Group, Inc. has a 1 year low of $38.45 and a 1 year high of $86.88. The firm has a market capitalization of $17.63 billion, a P/E ratio of -132.40 and a beta of 2.01. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group 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.