Optas LLC Sells 5,937 Shares of Zillow Group, Inc. $Z

Key Points

• Optas LLC has reduced its stake in Zillow Group, Inc. by 48.6%, now holding 6,268 shares valued at approximately $439,000 following the sale of 5,937 shares.
• Insider selling activity included Director Erik C. Blachford and COO Jun Choo, who sold shares at values of approximately $79,125 and $2.33 million, respectively, reflecting significant decreases in their holdings.
• Zillow Group's stock has received mixed ratings from analysts, with several upgrades and a consensus price target of $90.38 as of recent evaluations.

Optas LLC reduced its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 48.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,268 shares of the financial services provider's stock after selling 5,937 shares during the quarter. Optas LLC's holdings in Zillow Group were worth $439,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in Z. GAMMA Investing LLC lifted its position in Zillow Group by 10,025.5% in the 1st quarter. GAMMA Investing LLC now owns 41,616 shares of the financial services provider's stock valued at $2,853,000 after acquiring an additional 41,205 shares in the last quarter. Wedmont Private Capital bought a new stake in Zillow Group during the 1st quarter worth about $229,000. Park Avenue Securities LLC lifted its position in Zillow Group by 20.0% during the 1st quarter. Park Avenue Securities LLC now owns 12,292 shares of the financial services provider's stock worth $843,000 after buying an additional 2,045 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in Zillow Group during the 1st quarter worth about $317,000. Finally, SG Americas Securities LLC lifted its position in Zillow Group by 221.1% during the 1st quarter. SG Americas Securities LLC now owns 67,321 shares of the financial services provider's stock worth $4,616,000 after buying an additional 46,355 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Erik C. Blachford sold 966 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $81.91, for a total value of $79,125.06. Following the sale, the director directly owned 34,508 shares of the company's stock, valued at approximately $2,826,550.28. This represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jun Choo sold 25,575 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $91.06, for a total transaction of $2,328,859.50. Following the completion of the transaction, the chief operating officer directly owned 114,129 shares in the company, valued at approximately $10,392,586.74. This represents a 18.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 657,087 shares of company stock worth $56,286,479 in the last 90 days. 25.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Sanford C. Bernstein raised shares of Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price target on the stock in a research report on Wednesday, September 17th. Bank of America boosted their price target on shares of Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Zillow Group in a research report on Wednesday. Finally, Gordon Haskett raised shares of Zillow Group to a "strong-buy" rating in a research report on Friday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.38.

Zillow Group Stock Performance

Shares of Z stock opened at $70.82 on Friday. The firm's 50-day moving average is $82.56 and its 200-day moving average is $74.16. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of -272.38, a PEG ratio of 24.44 and a beta of 2.13. Zillow Group, Inc. has a 52-week low of $57.00 and a 52-week high of $93.88.

Zillow Group 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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