Zillow Group, Inc. $Z Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP has reduced its holdings in Zillow Group by 4.1% in the first quarter, equating to a total of 92,651 shares valued at approximately $6.35 million.
• Insider selling has occurred, with CFO Jeremy Hofmann and CEO Jeremy Wacksman selling significant amounts of stock in recent transactions, totaling nearly $1.66 million.
• Analysts have varied ratings on Zillow Group, with adjustments to target prices; JPMorgan Chase raised its target from $79 to $94, while the stock maintains an average rating of "Hold" among analysts.

Korea Investment CORP decreased its position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,651 shares of the financial services provider's stock after selling 3,978 shares during the quarter. Korea Investment CORP's holdings in Zillow Group were worth $6,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. DoubleLine ETF Adviser LP boosted its position in shares of Zillow Group by 1.5% during the 4th quarter. DoubleLine ETF Adviser LP now owns 10,868 shares of the financial services provider's stock valued at $805,000 after acquiring an additional 163 shares during the last quarter. Flynn Zito Capital Management LLC boosted its position in shares of Zillow Group by 4.5% during the 1st quarter. Flynn Zito Capital Management LLC now owns 3,856 shares of the financial services provider's stock valued at $264,000 after acquiring an additional 166 shares during the last quarter. True Vision MN LLC boosted its position in shares of Zillow Group by 2.4% during the 1st quarter. True Vision MN LLC now owns 7,599 shares of the financial services provider's stock valued at $521,000 after acquiring an additional 176 shares during the last quarter. GAMMA Investing LLC lifted its position 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 buying an additional 196 shares during the last quarter. Finally, Keel Point LLC lifted its position in Zillow Group by 1.7% in the fourth quarter. Keel Point LLC now owns 13,760 shares of the financial services provider's stock valued at $1,019,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Zillow Group Stock Performance

Shares of Z opened at $87.44 on Friday. The stock has a market capitalization of $21.18 billion, a PE ratio of -336.31, a P/E/G ratio of 15.33 and a beta of 2.09. 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 $77.22 and its 200-day simple moving average is $72.82.

Insider Buying and Selling at Zillow Group

In other news, CFO Jeremy Hofmann sold 8,168 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $85.35, for a total transaction of $697,138.80. Following the sale, the chief financial officer owned 84,146 shares of the company's stock, valued at approximately $7,181,861.10. This represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Wacksman sold 11,275 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.73, for a total transaction of $966,605.75. Following the sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 580,379 shares of company stock valued at $49,319,729. Corporate insiders own 25.03% of the company's stock.

Analyst Ratings Changes

Z has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price 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. Wells Fargo & Company raised shares of Zillow Group to a "hold" rating in a research report on Monday, April 28th. Keefe, Bruyette & Woods decreased their target price on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Wedbush reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Zillow Group in a research report on Monday, May 5th. Finally, Bank of America upped their target price 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 research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $88.29.

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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