Zillow Group, Inc. $Z Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Zillow Group, Inc. by 34.3%, selling 3,985 shares and holding a total of 7,633 shares valued at $554,000 at the end of the second quarter.
• Insider transactions revealed that Zillow's CTO and COO sold a significant amount of stock, with CTO David A. Beitel selling 22,510 shares for about $2.05 million and COO Jun Choo selling 25,575 shares for approximately $2.33 million.
• Analyst ratings for Zillow Group have varied, with upgrades from Mizuho to a "strong-buy" and JPMorgan Chase raising their price target to $94.00, while Weiss Ratings maintained a "sell" rating.

Wealth Enhancement Advisory Services LLC lessened its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 34.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,633 shares of the financial services provider's stock after selling 3,985 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Zillow Group were worth $554,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in shares of Zillow Group by 288.9% in the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 338 shares during the last quarter. National Pension Service increased its holdings 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 valued at $40,000 after purchasing an additional 247 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 valued at $42,000 after purchasing an additional 196 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Zillow Group in the first quarter valued at approximately $49,000. Finally, Parallel Advisors LLC increased its holdings 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 valued at $115,000 after purchasing an additional 984 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Transactions at Zillow Group

In related news, CTO David A. Beitel sold 22,510 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $90.97, for a total value of $2,047,734.70. Following the sale, the chief technology officer owned 144,549 shares of the company's stock, valued at approximately $13,149,622.53. This represents a 13.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jun Choo sold 25,575 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $91.06, for a total value of $2,328,859.50. Following the completion of the sale, the chief operating officer directly owned 114,129 shares in the company, valued at approximately $10,392,586.74. The trade was a 18.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 657,087 shares of company stock worth $56,286,479 in the last quarter. Insiders own 25.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Bank of America increased their price target on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Mizuho upgraded Zillow Group to a "strong-buy" rating in a research report on Monday, September 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zillow Group in a research report on Saturday, September 27th. Finally, Sanford C. Bernstein upgraded Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price objective for the company in a research report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $90.38.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $76.79 on Friday. The business's 50 day simple moving average is $83.19 and its 200-day simple moving average is $74.17. The firm has a market capitalization of $18.60 billion, a price-to-earnings ratio of -295.35, a price-to-earnings-growth ratio of 21.38 and a beta of 2.13. Zillow Group, Inc. has a 12 month low of $57.00 and a 12 month 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.

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