Independent Advisor Alliance Sells 302 Shares of Zillow Group, Inc. (NASDAQ:Z)

Independent Advisor Alliance decreased its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 8.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,318 shares of the financial services provider’s stock after selling 302 shares during the quarter. Independent Advisor Alliance’s holdings in Zillow Group were worth $227,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Zillow Group by 7.8% in the first quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider’s stock worth $1,548,767,000 after purchasing an additional 1,628,577 shares in the last quarter. Caxton Associates LP bought a new position in Zillow Group in the fourth quarter worth approximately $51,835,000. Castle Hook Partners LP bought a new position in Zillow Group in the fourth quarter worth approximately $49,887,000. Polar Capital Holdings Plc bought a new position in Zillow Group in the fourth quarter worth approximately $33,504,000. Finally, Altimeter Capital Management LP grew its stake in Zillow Group by 52.0% in the fourth quarter. Altimeter Capital Management LP now owns 1,300,738 shares of the financial services provider’s stock worth $96,320,000 after purchasing an additional 445,158 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Z has been the subject of a number of analyst reports. Wells Fargo & Company upgraded Zillow Group to a “hold” rating in a report on Monday, April 28th. Wedbush restated an “outperform” rating and set a $100.00 target price on shares of Zillow Group in a report on Monday, May 5th. JPMorgan Chase & Co. increased their price objective on Zillow Group from $79.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Bank of America increased their price objective on Zillow Group from $81.00 to $88.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Finally, William Blair started coverage on Zillow Group in a report on Monday, April 21st. They set a “market perform” rating for the company. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $88.29.

Zillow Group Trading Down 0.2%

Shares of Zillow Group stock opened at $85.11 on Friday. The firm has a market capitalization of $20.55 billion, a PE ratio of -327.35, a P/E/G ratio of 13.83 and a beta of 2.09. Zillow Group, Inc. has a twelve month low of $52.45 and a twelve month high of $89.39. The firm’s 50-day moving average price is $75.96 and its 200 day moving average price is $72.74.

Insider Transactions at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $85.91, for a total value of $8,591,000.00. Following the transaction, the insider directly owned 68,889 shares of the company’s stock, valued at $5,918,253.99. This trade represents a 59.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jeremy Hofmann sold 8,168 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.35, for a total transaction of $697,138.80. Following the completion of the transaction, the chief financial officer directly owned 84,146 shares in the company, valued at $7,181,861.10. This trade represents a 8.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,379 shares of company stock worth $19,483,729 in the last three months. 25.03% of the stock is owned by corporate insiders.

Zillow Group 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.