Zillow Group, Inc. $Z is TB Alternative Assets Ltd.'s 3rd Largest Position

Key Points

• TB Alternative Assets Ltd. increased its stake in Zillow Group by 25.4% during the second quarter, making it the third largest position in their portfolio.
• Various hedge funds, including TD Private Client Wealth LLC and Public Employees Retirement System of Ohio, have significantly raised their positions in Zillow Group during the same period.
• Analysts have positively revised Zillow Group's ratings, with several firms setting higher price objectives, showing increased confidence in the company’s stock performance.

TB Alternative Assets Ltd. lifted its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 25.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 715,951 shares of the financial services provider's stock after purchasing an additional 145,038 shares during the quarter. Zillow Group accounts for 9.3% of TB Alternative Assets Ltd.'s portfolio, making the stock its 3rd largest position. TB Alternative Assets Ltd. owned about 0.30% of Zillow Group worth $50,152,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. TD Private Client Wealth LLC lifted its position in shares of Zillow Group by 352.0% in the second quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider's stock worth $32,000 after purchasing an additional 352 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Zillow Group by 12.9% in the second quarter. Public Employees Retirement System of Ohio now owns 55,151 shares of the financial services provider's stock worth $3,863,000 after purchasing an additional 6,316 shares in the last quarter. Accurate Wealth Management LLC raised its position in Zillow Group by 19.7% during the second quarter. Accurate Wealth Management LLC now owns 35,892 shares of the financial services provider's stock valued at $2,514,000 after acquiring an additional 5,912 shares in the last quarter. Fifth Third Bancorp raised its position in Zillow Group by 19.2% during the second quarter. Fifth Third Bancorp now owns 1,405 shares of the financial services provider's stock valued at $98,000 after acquiring an additional 226 shares in the last quarter. Finally, Arlington Partners LLC raised its position in Zillow Group by 17.3% during the second quarter. Arlington Partners LLC now owns 64,042 shares of the financial services provider's stock valued at $4,486,000 after acquiring an additional 9,448 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on Z shares. Sanford C. Bernstein raised shares of Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price objective on the stock in a research report on Wednesday, September 17th. JPMorgan Chase & Co. raised their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Bank of America raised their price objective on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $90.38.

Insider Activity

In other Zillow Group news, CTO David A. Beitel sold 22,510 shares of Zillow Group stock in a transaction on 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 sale, the chief technology officer owned 144,549 shares in the company, valued at $13,149,622.53. The trade was a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director April Underwood sold 3,621 shares of Zillow Group stock in a transaction on Monday, September 8th. The stock was sold at an average price of $90.12, for a total transaction of $326,324.52. Following the sale, the director owned 483 shares in the company, valued at $43,527.96. This represents a 88.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 657,087 shares of company stock valued at $56,286,479. 25.03% of the stock is owned by insiders.

Zillow Group Trading Down 0.3%

Shares of Zillow Group stock opened at $79.00 on Thursday. The company's fifty day simple moving average is $83.49 and its 200-day simple moving average is $73.82. The company has a market cap of $19.14 billion, a price-to-earnings ratio of -303.85, a PEG ratio of 22.06 and a beta of 2.04. Zillow Group, Inc. has a 1 year low of $57.00 and a 1 year high of $93.88.

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.

Want to see what other hedge funds are holding Z? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zillow Group, Inc. (NASDAQ:Z - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.