Zillow Group, Inc. (NASDAQ:Z) Stock Position Boosted by Optas LLC

Optas LLC lifted its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 117.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,205 shares of the financial services provider's stock after acquiring an additional 6,594 shares during the period. Optas LLC's holdings in Zillow Group were worth $837,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC increased its stake 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 buying an additional 196 shares during the period. National Bank of Canada FI acquired a new position in shares of Zillow Group during the fourth quarter worth about $55,000. Assetmark Inc. raised its holdings in Zillow Group by 7,410.0% during the fourth quarter. Assetmark Inc. now owns 751 shares of the financial services provider's stock worth $56,000 after purchasing an additional 741 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Zillow Group by 53.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider's stock valued at $79,000 after purchasing an additional 367 shares during the period. Finally, Natixis purchased a new stake in Zillow Group in the 4th quarter valued at approximately $80,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zillow Group

In related news, General Counsel Bradley D. Owens sold 1,154 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $68.74, for a total transaction of $79,325.96. Following the completion of the sale, the general counsel now owns 50,681 shares of the company's stock, valued at $3,483,811.94. This represents a 2.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erik C. Blachford sold 965 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $70.35, for a total transaction of $67,887.75. Following the sale, the director now owns 35,474 shares in the company, valued at approximately $2,495,595.90. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,947 shares of company stock valued at $7,199,000. Insiders own 23.76% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on Z. Wells Fargo & Company upgraded shares of Zillow Group to a "hold" rating in a research report on Monday, April 28th. William Blair began coverage on Zillow Group in a report on Monday, April 21st. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. reduced their price objective on Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Wedbush reissued an "outperform" rating and issued a $100.00 target price on shares of Zillow Group in a report on Monday, May 5th. Finally, Keefe, Bruyette & Woods dropped their price target on 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 equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Zillow Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.71.

Zillow Group Price Performance

Z traded down $0.10 during trading hours on Wednesday, reaching $67.53. 1,437,003 shares of the stock traded hands, compared to its average volume of 3,066,225. Zillow Group, Inc. has a fifty-two week low of $41.67 and a fifty-two week high of $89.39. The company has a market cap of $16.31 billion, a price-to-earnings ratio of -198.62, a PEG ratio of 13.10 and a beta of 2.12. The firm's fifty day simple moving average is $67.04 and its two-hundred day simple moving average is $72.99.

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.