UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Position in Zillow Group, Inc. $Z

Key Points

• UBS AM increased its holdings in Zillow Group, Inc. by 2.6%, owning 985,003 shares worth approximately $67.5 million as of the end of the first quarter.
• Analysts have raised their price targets for Zillow Group, with JPMorgan Chase setting it at $94 and Bank of America at $88, indicating a "Moderate Buy" consensus rating.
• Insider trading activity includes significant sales by COO Jun Choo and CTO David A. Beitel, who sold shares valued at $3.89 million and $2.05 million, respectively.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 985,003 shares of the financial services provider's stock after acquiring an additional 24,951 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.41% of Zillow Group worth $67,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc lifted 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 during the period. National Pension Service lifted its stake in Zillow Group by 74.8% during the 1st quarter. National Pension Service now owns 577 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 247 shares during the period. GAMMA Investing LLC lifted its stake in Zillow Group by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 196 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Zillow Group during the 1st quarter valued at approximately $49,000. Finally, Parallel Advisors LLC lifted its stake in Zillow Group by 141.8% during the 1st quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 984 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on Z shares. JPMorgan Chase & Co. lifted 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. Bank of America lifted 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 investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Zillow Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.29.

Zillow Group Trading Down 1.7%

Shares of NASDAQ:Z opened at $87.78 on Friday. The stock's 50-day moving average price is $82.05 and its two-hundred day moving average price is $73.27. Zillow Group, Inc. has a 12-month low of $56.82 and a 12-month high of $91.93. The firm has a market cap of $21.27 billion, a price-to-earnings ratio of -337.62, a PEG ratio of 9.36 and a beta of 2.04.

Insider Activity

In other Zillow Group news, COO Jun Choo sold 45,710 shares of Zillow Group stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.21, for a total transaction of $3,894,949.10. Following the sale, the chief operating officer directly owned 117,098 shares in the company, valued at $9,977,920.58. The trade was a 28.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO David A. Beitel sold 22,510 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $90.97, for a total value of $2,047,734.70. Following the completion of the sale, the chief technology officer directly owned 144,549 shares in the company, valued at $13,149,622.53. This represents a 13.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 657,087 shares of company stock worth $56,286,479 in the last ninety days. 25.03% of the stock is currently owned by company insiders.

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.

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