Accurate Wealth Management LLC Grows Stake in Zillow Group, Inc. $Z

Key Points

• Accurate Wealth Management LLC increased its stake in Zillow Group, Inc. by 19.7%, bringing its holdings to 35,892 shares valued at approximately $2.51 million at the end of the second quarter.
• Recent insider transactions revealed that Zillow's Director and CTO sold significant amounts of stock, with the director reducing their holdings by 88.23% and the CTO by 13.47%.
• Zillow Group's stock has seen various ratings adjustments from analysts, with Bank of America and JPMorgan Chase raising their price targets to $88.00 and $94.00, respectively.

Accurate Wealth Management LLC increased its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 19.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,892 shares of the financial services provider's stock after purchasing an additional 5,912 shares during the quarter. Accurate Wealth Management LLC's holdings in Zillow Group were worth $2,514,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc grew its position in shares of Zillow Group by 288.9% during the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock worth $31,000 after purchasing an additional 338 shares in the last quarter. National Pension Service grew its position in shares of Zillow Group by 74.8% during the first quarter. National Pension Service now owns 577 shares of the financial services provider's stock worth $40,000 after purchasing an additional 247 shares in the last quarter. GAMMA Investing LLC grew its holdings in Zillow Group by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after buying an additional 196 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Zillow Group during the 1st quarter valued at approximately $49,000. Finally, Farther Finance Advisors LLC grew its holdings in Zillow Group by 25.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 792 shares of the financial services provider's stock valued at $55,000 after buying an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Insiders Place Their Bets

In other news, Director April Underwood sold 3,621 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $90.12, for a total value of $326,324.52. Following the completion of the sale, the director directly owned 483 shares of the company's stock, valued at $43,527.96. This trade represents a 88.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO David A. Beitel sold 22,510 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $90.97, for a total value of $2,047,734.70. Following the completion of the sale, the chief technology officer directly owned 144,549 shares of the company's stock, valued at $13,149,622.53. The trade was a 13.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 657,087 shares of company stock worth $56,286,479. 23.76% of the stock is currently owned by company insiders.

Zillow Group Price Performance

NASDAQ:Z opened at $79.23 on Wednesday. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of -304.73, a PEG ratio of 22.57 and a beta of 2.04. Zillow Group, Inc. has a 1 year low of $57.00 and a 1 year high of $93.88. The business has a 50 day simple moving average of $83.45 and a 200-day simple moving average of $73.79.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on Z shares. Bank of America raised their price target on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Sanford C. Bernstein upgraded Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price target for the company in a report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Zillow Group currently has an average rating of "Moderate Buy" and a consensus target price of $90.38.

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.

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