Zillow Group, Inc. $Z Position Increased by Altimeter Capital Management LP

Key Points

• Altimeter Capital Management LP increased its position in Zillow Group by 1.8%, owning 1,323,554 shares after purchasing an additional 22,816 shares in the first quarter.
• Analysts have mixed opinions on Zillow Group, with price targets ranging from $76 to $94 and an average rating of "Hold" based on recent research reports.
• Insider trading activity saw Director Thielke Claire Cormier and Chairman Richard N. Barton each selling significant shares, reducing their ownership by 91.92% and 19.17%, respectively.

Altimeter Capital Management LP raised its position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 1.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,323,554 shares of the financial services provider's stock after buying an additional 22,816 shares during the quarter. Zillow Group accounts for 1.8% of Altimeter Capital Management LP's portfolio, making the stock its 14th largest position. Altimeter Capital Management LP owned about 0.55% of Zillow Group worth $90,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc lifted its stake in Zillow Group by 288.9% during the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after buying an additional 338 shares in the last quarter. National Pension Service lifted its position in shares of 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 purchasing an additional 247 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 196 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Zillow Group in the first quarter worth approximately $49,000. Finally, Parallel Advisors LLC lifted its position in shares of Zillow Group by 141.8% in the first quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock worth $115,000 after purchasing an additional 984 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on Z shares. JPMorgan Chase & Co. increased their price target on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Keefe, Bruyette & Woods reduced their price target on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Finally, Bank of America increased their price target on shares of Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One research 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $88.29.

Zillow Group Stock Down 3.0%

Shares of Z stock opened at $81.81 on Wednesday. Zillow Group, Inc. has a 12 month low of $52.86 and a 12 month high of $89.39. The business's 50 day moving average is $79.45 and its two-hundred day moving average is $72.78. The company has a market cap of $19.82 billion, a PE ratio of -314.65, a price-to-earnings-growth ratio of 15.88 and a beta of 2.04.

Insider Activity at Zillow Group

In other Zillow Group news, Director Thielke Claire Cormier sold 8,247 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $79.86, for a total transaction of $658,605.42. Following the transaction, the director owned 725 shares in the company, valued at $57,898.50. This trade represents a 91.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard N. Barton sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $84.92, for a total value of $16,984,000.00. Following the transaction, the chairman owned 843,248 shares in the company, valued at approximately $71,608,620.16. This trade represents a 19.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 580,379 shares of company stock valued at $49,319,729. 23.76% of the stock is owned by company insiders.

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.

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