Vident Advisory LLC Boosts Stock Position in Zillow Group, Inc. $Z

Key Points

• Vident Advisory LLC increased its stake in Zillow Group by 209.6% during the 1st quarter, now holding 12,828 shares valued at approximately $879,000.
• Several institutional investors also expanded their positions, with IFP Advisors Inc. growing its stake by 288.9%, while hedge funds own 71.01% of Zillow Group's stock.
• Analysts have raised price targets for Zillow Group, with Bank of America setting a new target of $88.00, which indicates an overall "Moderate Buy" rating for the stock.

Vident Advisory LLC raised its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 209.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,828 shares of the financial services provider's stock after purchasing an additional 8,684 shares during the period. Vident Advisory LLC's holdings in Zillow Group were worth $879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in Zillow Group by 288.9% in the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 338 shares during the last quarter. National Pension Service grew its stake in Zillow Group by 74.8% in the first quarter. National Pension Service now owns 577 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 247 shares during the last quarter. GAMMA Investing LLC grew its stake in Zillow Group by 47.7% in the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 196 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Zillow Group in the first quarter valued at about $49,000. Finally, Point72 Hong Kong Ltd purchased a new position in Zillow Group in the fourth quarter valued at about $119,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on Z shares. Bank of America boosted their price target on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Zillow Group has an average rating of "Moderate Buy" and an average price target of $88.29.

Zillow Group Stock Up 0.2%

Shares of NASDAQ:Z opened at $83.70 on Friday. The business has a fifty day moving average of $80.04 and a two-hundred day moving average of $72.88. The stock has a market cap of $20.28 billion, a P/E ratio of -321.92, a PEG ratio of 15.73 and a beta of 2.04. Zillow Group, Inc. has a 52-week low of $52.86 and a 52-week high of $89.39.

Insider Buying and Selling

In other Zillow Group news, CEO Jeremy Wacksman sold 11,275 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.73, for a total value of $966,605.75. Following the completion of the sale, the chief executive officer directly owned 153,113 shares in the company, valued at $13,126,377.49. This represents a 6.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 8,168 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $85.35, for a total value of $697,138.80. Following the completion of the sale, the chief financial officer owned 84,146 shares of the company's stock, valued at approximately $7,181,861.10. The trade was a 8.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 581,587 shares of company stock worth $49,418,676 over the last quarter. Corporate insiders own 25.03% of the company's stock.

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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