Zillow Group, Inc. $Z Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC has increased its holdings in Zillow Group by 69.8%, bringing their total shares to 49,791, valued at approximately $3.41 million.
• Several hedge funds, including Vanguard Group and Altimeter Capital Management, also adjusted their stakes in Zillow Group, demonstrating strong institutional interest with 71.01% of shares owned by institutional investors.
• Insider trading reports reveal that key executives sold significant shares on August 7, with a total of 580,379 shares sold in the past 90 days, amounting to nearly $49.3 million in value.

Ieq Capital LLC increased its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 69.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,791 shares of the financial services provider's stock after purchasing an additional 20,468 shares during the period. Ieq Capital LLC's holdings in Zillow Group were worth $3,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in Z. Vanguard Group Inc. increased its stake in Zillow Group by 7.8% in the first quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider's stock valued at $1,548,767,000 after acquiring an additional 1,628,577 shares during the last quarter. Independent Franchise Partners LLP increased its position in shares of Zillow Group by 2.5% during the first quarter. Independent Franchise Partners LLP now owns 11,153,697 shares of the financial services provider's stock worth $764,697,000 after acquiring an additional 271,084 shares in the last quarter. Ninety One UK Ltd grew its position in Zillow Group by 11.4% in the 1st quarter. Ninety One UK Ltd now owns 4,029,503 shares of the financial services provider's stock worth $276,263,000 after purchasing an additional 411,742 shares in the last quarter. Dorsal Capital Management LP grew its position in Zillow Group by 4.7% in the 4th quarter. Dorsal Capital Management LP now owns 3,350,000 shares of the financial services provider's stock worth $248,068,000 after purchasing an additional 150,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Zillow Group by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,584,537 shares of the financial services provider's stock valued at $108,636,000 after acquiring an additional 45,828 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

Z has been the topic of a number of research analyst reports. Bank of America increased their price target on shares of Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. 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 research report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $88.29.

Insider Buying and Selling

In related news, CFO Jeremy Hofmann sold 8,168 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.35, for a total value of $697,138.80. Following the transaction, the chief financial officer owned 84,146 shares of the company's stock, valued at $7,181,861.10. This represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dan Spaulding sold 5,680 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $85.22, for a total value of $484,049.60. Following the transaction, the insider directly owned 59,616 shares in the company, valued at $5,080,475.52. This trade represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 580,379 shares of company stock valued at $49,319,729 in the last ninety days. 25.03% of the stock is owned by insiders.

Zillow Group Trading Up 2.1%

Zillow Group stock traded up $1.69 during midday trading on Wednesday, reaching $83.50. The stock had a trading volume of 1,694,220 shares, compared to its average volume of 2,662,249. Zillow Group, Inc. has a 12 month low of $52.86 and a 12 month high of $89.39. The company has a market capitalization of $20.23 billion, a P/E ratio of -321.15, a PEG ratio of 15.88 and a beta of 2.04. The company has a fifty day moving average price of $79.45 and a two-hundred day moving average price of $72.78.

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.