Fortis Capital Advisors LLC Makes New $691,000 Investment in 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 bought 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 (SEC). The fund bought 10,083 shares of the financial services provider's stock, valued at approximately $691,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc increased its holdings in shares of Zillow Group by 288.9% in the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 338 shares during the last quarter. National Pension Service boosted its position in shares of Zillow Group by 74.8% during the first quarter. National Pension Service now owns 577 shares of the financial services provider's stock worth $40,000 after buying an additional 247 shares during the period. GAMMA Investing LLC boosted its position in shares of Zillow Group by 47.7% during the first 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. Strategic Investment Solutions Inc. IL acquired a new stake in Zillow Group in the first quarter worth approximately $49,000. Finally, Parallel Advisors LLC lifted its position in 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. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Zillow Group

In other Zillow Group news, Chairman Richard N. Barton sold 200,000 shares of the firm'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 transaction, the chairman directly owned 843,248 shares of the company's stock, valued at approximately $71,608,620.16. This trade represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David A. Beitel sold 22,510 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $90.97, for a total transaction of $2,047,734.70. Following the completion of the transaction, the chief technology officer directly owned 144,549 shares in the company, valued at $13,149,622.53. This trade represents a 13.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 657,087 shares of company stock valued at $56,286,479. Corporate insiders own 25.03% 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 1-year low of $53.90 and a 1-year high of $91.93. The firm has a market capitalization of $20.76 billion, a price-to-earnings ratio of -329.65, a price-to-earnings-growth ratio of 9.14 and a beta of 2.04. The firm's fifty day moving average price is $81.41 and its two-hundred day moving average price is $73.13.

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.

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