Zillow Group, Inc. $Z Shares Bought by Alliancebernstein L.P.

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. lifted its position in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 57.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,153 shares of the financial services provider's stock after acquiring an additional 126,069 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Zillow Group worth $23,664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in Zillow Group by 320.0% during the 1st quarter. AQR Capital Management LLC now owns 550,217 shares of the financial services provider's stock valued at $37,222,000 after purchasing an additional 419,202 shares during the period. Altimeter Capital Management LP boosted its stake in shares of Zillow Group by 1.8% during the first quarter. Altimeter Capital Management LP now owns 1,323,554 shares of the financial services provider's stock valued at $90,743,000 after purchasing an additional 22,816 shares in the last quarter. Amundi increased its holdings in Zillow Group by 77.9% during the first quarter. Amundi now owns 579,429 shares of the financial services provider's stock valued at $39,697,000 after buying an additional 253,804 shares during the period. Atreides Management LP purchased a new position in Zillow Group during the first quarter valued at approximately $32,159,000. Finally, PDT Partners LLC bought a new position in Zillow Group in the first quarter worth approximately $590,000. 71.01% of the stock is currently owned by institutional investors.

Insider Activity at Zillow Group

In related news, CFO Jeremy Hofmann sold 25,000 shares of the company's stock in a transaction that occurred 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 directly owned 84,146 shares in the company, valued at approximately $7,572,298.54. This represents a 22.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dan Spaulding sold 100,000 shares of Zillow Group stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the sale, the insider owned 68,889 shares of the company's stock, valued at approximately $5,918,253.99. This represents a 59.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 657,087 shares of company stock valued at $56,286,479 over the last ninety days. Corporate insiders own 23.76% of the company's stock.

Zillow Group Stock Performance

Shares of NASDAQ Z traded up $1.43 during trading on Tuesday, hitting $88.55. 2,653,153 shares of the company were exchanged, compared to its average volume of 2,352,865. The company has a fifty day moving average price of $82.66 and a 200-day moving average price of $73.43. The firm has a market capitalization of $21.45 billion, a PE ratio of -340.58, a P/E/G ratio of 24.26 and a beta of 2.04. Zillow Group, Inc. has a 12-month low of $57.00 and a 12-month high of $91.93.

Analyst Ratings Changes

Z has been the topic of several recent research reports. Bank of America increased their target price on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Zillow Group presently has an average rating of "Moderate Buy" and a consensus 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.