Alliancebernstein L.P. Grows Stock Position in Zillow Group, Inc. $Z

Key Points

• Alliancebernstein L.P. increased its stake in Zillow Group, Inc. by 57.5%, owning 345,153 shares valued at approximately $23.66 million after purchasing an additional 126,069 shares.
• Vanguard Group Inc. also raised its position in Zillow, holding 22.5 million shares worth about $1.55 billion, reflecting a 7.8% increase in their stake.
• Zillow Group's stock is currently trading at $85.71 with a 12-month range between $53.90 and $91.93, while analysts have a consensus rating of "Moderate Buy" with an average price target of $88.29.

Alliancebernstein L.P. raised its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 57.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 345,153 shares of the financial services provider's stock after buying an additional 126,069 shares during the period. Alliancebernstein L.P. owned about 0.14% of Zillow Group worth $23,664,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Zillow Group by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider's stock valued at $1,548,767,000 after buying an additional 1,628,577 shares during the last quarter. Independent Franchise Partners LLP raised its stake in shares of Zillow Group by 2.5% during the 1st quarter. Independent Franchise Partners LLP now owns 11,153,697 shares of the financial services provider's stock valued at $764,697,000 after buying an additional 271,084 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of Zillow Group by 11.4% during the 1st quarter. Ninety One UK Ltd now owns 4,029,503 shares of the financial services provider's stock valued at $276,263,000 after buying an additional 411,742 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Zillow Group by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,584,537 shares of the financial services provider's stock valued at $108,636,000 after buying an additional 45,828 shares during the last quarter. Finally, Altimeter Capital Management LP raised its stake in shares of Zillow Group by 1.8% during the 1st quarter. Altimeter Capital Management LP now owns 1,323,554 shares of the financial services provider's stock valued at $90,743,000 after buying an additional 22,816 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Zillow Group Trading Down 1.7%

Zillow Group stock opened at $85.71 on Thursday. Zillow Group, Inc. has a twelve month low of $53.90 and a twelve month high of $91.93. The stock's fifty day simple moving average is $81.41 and its 200-day simple moving average is $73.13. The firm has a market capitalization of $20.76 billion, a P/E ratio of -329.65, a P/E/G ratio of 9.14 and a beta of 2.04.

Insider Transactions at Zillow Group

In related news, CFO Jeremy Hofmann sold 25,000 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $89.99, for a total value of $2,249,750.00. Following the transaction, the chief financial officer owned 84,146 shares of the company's stock, valued at $7,572,298.54. This represents a 22.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jun Choo sold 45,710 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $85.21, for a total value of $3,894,949.10. Following the completion of the transaction, the chief operating officer directly owned 117,098 shares in the company, valued at $9,977,920.58. This trade represents a 28.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 657,087 shares of company stock valued at $56,286,479 over the last ninety days. Company insiders own 25.03% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on Z shares. Bank of America lifted their price target on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.29.

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.

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