HB Wealth Management LLC Acquires New Position in Zillow Group, Inc. $Z

Key Points

• HB Wealth Management LLC has acquired a new stake in Zillow Group, Inc., purchasing 200,780 shares valued at approximately $14.07 million during the second quarter.
• Insider selling has been significant, with COO Jun Choo selling over 45,700 shares and Dan Spaulding selling 100,000 shares, which represent decreases of 28.08% and 59.21% in their holdings respectively.
• Analysts have shown a positive outlook for Zillow, with JPMorgan boosting its target price from $79.00 to $94.00 and several upgrades to "outperform" ratings, indicating growing confidence in the stock's performance.

HB Wealth Management LLC acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 200,780 shares of the financial services provider's stock, valued at approximately $14,065,000. HB Wealth Management LLC owned approximately 0.08% of Zillow Group at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. IFP Advisors Inc grew its stake in Zillow Group by 288.9% during 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 in the last quarter. TD Private Client Wealth LLC grew its stake in Zillow Group by 352.0% during the 2nd quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 352 shares in the last quarter. National Pension Service boosted its holdings in Zillow Group by 74.8% in the 1st quarter. National Pension Service now owns 577 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 247 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Zillow Group by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 196 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Zillow Group in the 1st quarter valued at about $49,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Zillow Group Stock Performance

Z stock opened at $80.54 on Tuesday. Zillow Group, Inc. has a one year low of $57.00 and a one year high of $93.88. The stock has a market capitalization of $19.51 billion, a PE ratio of -309.77, a price-to-earnings-growth ratio of 22.13 and a beta of 2.04. The company has a fifty day moving average of $83.59 and a 200-day moving average of $74.05.

Insiders Place Their Bets

In other news, COO Jun Choo sold 45,710 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $85.21, for a total value of $3,894,949.10. Following the completion of the transaction, the chief operating officer owned 117,098 shares in the company, valued at $9,977,920.58. This trade represents a 28.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dan Spaulding sold 100,000 shares of the 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 completion of the transaction, the insider owned 68,889 shares of the company's stock, valued at $5,918,253.99. This represents a 59.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 657,087 shares of company stock worth $56,286,479. Insiders own 23.76% of the company's stock.

Analyst Ratings Changes

Z has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Sanford C. Bernstein upgraded shares of Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 target price on the stock in a report on Wednesday, September 17th. Finally, Bank of America boosted their target price on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $90.38.

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.

Want to see what other hedge funds are holding Z? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zillow Group, Inc. (NASDAQ:Z - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.