Zillow Group, Inc. (NASDAQ:Z) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 21.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,468 shares of the financial services provider's stock after acquiring an additional 12,150 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Zillow Group were worth $4,694,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its stake in shares of Zillow Group by 2.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 7,148 shares of the financial services provider's stock worth $529,000 after purchasing an additional 148 shares during the last quarter. DoubleLine ETF Adviser LP lifted its holdings in Zillow Group by 1.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 10,868 shares of the financial services provider's stock valued at $805,000 after buying an additional 163 shares during the period. GAMMA Investing LLC lifted its holdings in Zillow Group by 47.7% in the first 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 during the period. Keel Point LLC raised its holdings in shares of Zillow Group by 1.7% during the fourth quarter. Keel Point LLC now owns 13,760 shares of the financial services provider's stock valued at $1,019,000 after purchasing an additional 234 shares during the period. Finally, ERn Financial LLC raised its holdings in shares of Zillow Group by 3.2% during the first quarter. ERn Financial LLC now owns 11,598 shares of the financial services provider's stock valued at $795,000 after purchasing an additional 359 shares during the period. 71.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on Z shares. JPMorgan Chase & Co. dropped their price target on shares of Zillow Group from $93.00 to $79.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Wells Fargo & Company raised shares of Zillow Group to a "hold" rating in a report on Monday, April 28th. William Blair assumed coverage on shares of Zillow Group in a report on Monday, April 21st. They set a "market perform" rating on the stock. Wedbush reissued an "outperform" rating and issued a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Eight analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.71.

Insider Activity at Zillow Group

In other news, COO Jun Choo sold 11,725 shares of Zillow Group stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $68.77, for a total transaction of $806,328.25. Following the completion of the transaction, the chief operating officer directly owned 130,186 shares of the company's stock, valued at $8,952,891.22. The trade was a 8.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Wacksman sold 10,984 shares of Zillow Group stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $757,676.32. Following the transaction, the chief executive officer directly owned 171,517 shares of the company's stock, valued at approximately $11,831,242.66. This trade represents a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,093 shares of company stock worth $6,989,688 in the last ninety days. 25.03% of the stock is owned by company insiders.

Zillow Group Stock Performance

Zillow Group stock traded up $0.76 during midday trading on Friday, hitting $81.16. 1,929,159 shares of the company's stock were exchanged, compared to its average volume of 2,330,228. Zillow Group, Inc. has a 12 month low of $41.67 and a 12 month high of $89.39. The company has a market cap of $19.60 billion, a PE ratio of -238.71, a P/E/G ratio of 14.85 and a beta of 2.11. The firm has a 50-day moving average of $71.33 and a two-hundred day moving average of $72.15.

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.