UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 24,951 Shares of 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 position 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 disclosure with the Securities and Exchange Commission. The institutional investor owned 985,003 shares of the financial services provider's stock after buying an additional 24,951 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.41% of Zillow Group worth $67,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of Z. IFP Advisors Inc increased its holdings in shares of Zillow Group by 288.9% during the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock worth $31,000 after buying an additional 338 shares in the last quarter. National Pension Service increased its holdings in shares of Zillow Group by 74.8% during the first quarter. National Pension Service now owns 577 shares of the financial services provider's stock worth $40,000 after buying an additional 247 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Zillow Group by 47.7% during the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock worth $42,000 after buying an additional 196 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Zillow Group during the first quarter worth approximately $49,000. Finally, Parallel Advisors LLC increased its holdings in shares of Zillow Group by 141.8% during the first quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock worth $115,000 after buying an additional 984 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Insiders Place Their Bets

In related news, CTO David A. Beitel sold 22,510 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $90.97, for a total transaction of $2,047,734.70. Following the completion of the sale, the chief technology officer owned 144,549 shares of the company's stock, valued at $13,149,622.53. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jun Choo sold 45,710 shares of the stock in a transaction dated 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 owned 117,098 shares in the company, valued at $9,977,920.58. The trade was a 28.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 657,087 shares of company stock valued at $56,286,479 over the last 90 days. 25.03% of the stock is owned by company insiders.

Zillow Group Price Performance

Zillow Group stock traded down $0.34 during mid-day trading on Thursday, reaching $89.98. 2,562,191 shares of the company were exchanged, compared to its average volume of 2,538,278. The firm has a market cap of $21.80 billion, a PE ratio of -346.08, a PEG ratio of 25.15 and a beta of 2.04. The company has a fifty day simple moving average of $83.18 and a 200-day simple moving average of $73.65. Zillow Group, Inc. has a 12 month low of $57.00 and a 12 month high of $93.88.

Analyst Upgrades and Downgrades

Z has been the subject of a number of research reports. Sanford C. Bernstein raised shares of Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price target for the company in a report on Wednesday. Bank of America raised their price target 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. Finally, JPMorgan Chase & Co. raised their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $90.38.

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.