Fortis Capital Advisors LLC Buys Shares of 10,083 Zillow Group, Inc. $Z

Key Points

• Fortis Capital Advisors LLC has made a new investment in Zillow Group, acquiring 10,083 shares valued at approximately $691,000.
• Several institutional investors have significantly increased their stakes in Zillow Group during the first quarter, with 71.01% of the stock now owned by hedge funds and other institutions.
• Bank of America and JPMorgan Chase & Co. have revised their price targets for Zillow Group to $88.00 and $94.00, respectively, with the stock currently rated as "Moderate Buy" by analysts.

Fortis Capital Advisors LLC acquired a new position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,083 shares of the financial services provider's stock, valued at approximately $691,000.

A number of other hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC lifted its stake in Zillow Group by 21.7% in the first quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider's stock worth $1,407,000 after acquiring an additional 3,653 shares during the period. SCS Capital Management LLC bought a new stake in shares of Zillow Group during the 1st quarter valued at about $440,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Zillow Group by 2.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 985,003 shares of the financial services provider's stock valued at $67,532,000 after purchasing an additional 24,951 shares during the period. Empowered Funds LLC grew its stake in shares of Zillow Group by 4.7% during the 1st quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider's stock valued at $262,000 after purchasing an additional 171 shares during the period. Finally, Great Lakes Advisors LLC bought a new position in shares of Zillow Group during the 1st quarter valued at approximately $6,082,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zillow Group

In related news, Chairman Richard N. Barton sold 200,000 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $84.92, for a total value of $16,984,000.00. Following the sale, the chairman owned 843,248 shares in the company, valued at approximately $71,608,620.16. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jun Choo sold 45,710 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $9,977,920.58. The trade was a 28.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 657,087 shares of company stock valued at $56,286,479. 23.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Z has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.29.

Zillow Group Stock Performance

Shares of Zillow Group stock traded up $1.27 during trading on Tuesday, hitting $88.39. The company's stock had a trading volume of 766,626 shares, compared to its average volume of 2,642,462. The company has a market capitalization of $21.41 billion, a PE ratio of -340.39, a P/E/G ratio of 24.44 and a beta of 2.04. Zillow Group, Inc. has a 52 week low of $57.00 and a 52 week high of $91.93. The company has a fifty day simple moving average of $82.34 and a two-hundred day simple moving average of $73.32.

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.