Zillow Group, Inc. $Z is Independent Franchise Partners LLP's 6th Largest Position

Key Points

• Independent Franchise Partners LLP increased its stake in Zillow Group, owning over 11 million shares after a 2.5% boost, making it the sixth largest position in their portfolio.
• Zillow Group has seen a significant increase in institutional investment, with hedge funds owning 71.01% of the stock, demonstrating growing confidence among large investors.
• CEO Jeremy Wacksman and CFO Jeremy Hofmann sold a combined total of $1.66 million in Zillow stock recently, indicating a decrease in their ownership percentages.

Independent Franchise Partners LLP grew its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,153,697 shares of the financial services provider's stock after acquiring an additional 271,084 shares during the period. Zillow Group comprises approximately 5.5% of Independent Franchise Partners LLP's investment portfolio, making the stock its 6th biggest holding. Independent Franchise Partners LLP owned approximately 4.60% of Zillow Group worth $764,697,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. IFP Advisors Inc raised 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 worth $31,000 after buying an additional 338 shares in the last quarter. National Pension Service raised 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 worth $40,000 after buying an additional 247 shares in the last quarter. GAMMA Investing LLC raised 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 worth $42,000 after buying an additional 196 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Zillow Group in the first quarter worth approximately $49,000. Finally, Natixis bought a new position in Zillow Group in the fourth quarter worth approximately $80,000. Institutional investors own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Wedbush reissued an "outperform" rating and issued a $100.00 price objective on shares of Zillow Group in a research note on Monday, May 5th. Finally, Bank of America upped their price target on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Zillow Group has an average rating of "Hold" and an average target price of $88.29.

Insider Transactions at Zillow Group

In other Zillow Group news, CEO Jeremy Wacksman sold 11,275 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $85.73, for a total value of $966,605.75. Following the completion of the transaction, the chief executive officer owned 153,113 shares in the company, valued at $13,126,377.49. The trade was a 6.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Richard N. Barton sold 150,000 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.68, for a total transaction of $12,852,000.00. Following the completion of the transaction, the chairman owned 2,501,225 shares of the company's stock, valued at approximately $214,304,958. This trade represents a 5.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 580,379 shares of company stock worth $49,319,729 in the last three months. Company insiders own 25.03% of the company's stock.

Zillow Group Stock Down 1.7%

Zillow Group stock traded down $1.49 during trading on Wednesday, hitting $84.19. The company had a trading volume of 1,934,525 shares, compared to its average volume of 3,168,658. Zillow Group, Inc. has a 1-year low of $52.86 and a 1-year high of $89.39. The company's 50 day simple moving average is $78.24 and its 200-day simple moving average is $72.80.

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.