Zevenbergen Capital Investments LLC Sells 45,627 Shares of Zillow Group, Inc. $Z

Key Points

• Zevenbergen Capital Investments LLC reduced its stake in Zillow Group by 5.2%, selling 45,627 shares, leaving it with 824,544 shares valued at approximately $57.8 million.
• Multiple institutional investors have increased their positions in Zillow Group, with IFP Advisors Inc's holdings rising by 288.9% during the first quarter.
• Analysts have boosted target prices for Zillow Group, with JPMorgan Chase raising it from $79 to $94 and Bank of America increasing it from $81 to $88, reflecting a generally positive outlook.

Zevenbergen Capital Investments LLC lessened its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 824,544 shares of the financial services provider's stock after selling 45,627 shares during the period. Zillow Group accounts for approximately 1.1% of Zevenbergen Capital Investments LLC's holdings, making the stock its 26th biggest position. Zevenbergen Capital Investments LLC owned 0.34% of Zillow Group worth $57,759,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. IFP Advisors Inc increased its holdings in shares of Zillow Group by 288.9% in the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock worth $31,000 after buying an additional 338 shares during the last quarter. National Pension Service increased its holdings in shares of Zillow Group by 74.8% in the 1st quarter. National Pension Service now owns 577 shares of the financial services provider's stock worth $40,000 after buying an additional 247 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Zillow Group by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock worth $42,000 after buying an additional 196 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Zillow Group in the 1st quarter worth about $49,000. Finally, Parallel Advisors LLC increased its holdings in shares of Zillow Group by 141.8% in the 1st 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 during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on Z. JPMorgan Chase & Co. boosted their target price on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Bank of America boosted their target price on shares of Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. One equities research 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 stock. According to data from MarketBeat, Zillow Group currently has an average rating of "Moderate Buy" and a consensus target price of $88.29.

Insiders Place Their Bets

In other Zillow Group news, CTO David A. Beitel sold 22,510 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $90.97, for a total value of $2,047,734.70. Following the completion of the transaction, the chief technology officer owned 144,549 shares of the company's stock, valued at approximately $13,149,622.53. This trade represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jun Choo sold 45,710 shares of the firm's stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 117,098 shares of the company's stock, valued at approximately $9,977,920.58. This represents a 28.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 657,087 shares of company stock valued at $56,286,479. Corporate insiders own 25.03% of the company's stock.

Zillow Group Stock Down 1.7%

Shares of Z opened at $87.78 on Friday. The company has a market cap of $21.27 billion, a price-to-earnings ratio of -337.62, a price-to-earnings-growth ratio of 9.36 and a beta of 2.04. Zillow Group, Inc. has a twelve month low of $56.82 and a twelve month high of $91.93. The company has a 50 day moving average of $82.05 and a two-hundred day moving average of $73.27.

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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