Cetera Investment Advisers Grows Position in Zillow Group, Inc. (NASDAQ:Z)

Cetera Investment Advisers increased its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 54.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,593 shares of the financial services provider's stock after buying an additional 4,792 shares during the period. Cetera Investment Advisers' holdings in Zillow Group were worth $932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in Z. IFP Advisors Inc boosted its position in Zillow Group by 288.9% during the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock worth $31,000 after acquiring an additional 338 shares during the last quarter. GAMMA Investing LLC increased its position in Zillow Group by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock worth $42,000 after buying an additional 196 shares during the period. Natixis bought a new position in shares of Zillow Group in the fourth quarter worth $80,000. Parallel Advisors LLC increased its position in shares of Zillow Group by 141.8% in the first quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock worth $115,000 after purchasing an additional 984 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Zillow Group in the fourth quarter valued at about $119,000. 71.01% of the stock is owned by institutional investors.

Zillow Group Stock Performance

Z traded down $0.16 on Friday, hitting $85.11. 2,391,941 shares of the company were exchanged, compared to its average volume of 2,926,148. The firm has a fifty day simple moving average of $75.96 and a two-hundred day simple moving average of $72.81. Zillow Group, Inc. has a 12 month low of $52.45 and a 12 month high of $89.39. The stock has a market capitalization of $20.55 billion, a PE ratio of -327.35, a price-to-earnings-growth ratio of 13.85 and a beta of 2.09.

Insider Buying and Selling

In related news, COO Jun Choo sold 45,710 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.21, for a total transaction of $3,894,949.10. Following the completion of the transaction, the chief operating officer owned 117,098 shares of the company's stock, valued at $9,977,920.58. This trade represents a 28.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 8,168 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $85.35, for a total value of $697,138.80. Following the transaction, the chief financial officer directly owned 84,146 shares of the company's stock, valued at approximately $7,181,861.10. This trade represents a 8.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,379 shares of company stock worth $19,483,729 over the last quarter. Company insiders own 25.03% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on Z shares. Keefe, Bruyette & Woods cut their price target on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. William Blair started coverage on Zillow Group in a research note on Monday, April 21st. They issued a "market perform" rating on the stock. Wedbush reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of Zillow Group in a research note on Monday, May 5th. Bank of America lifted their price objective on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $88.29.

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.