Envestnet Portfolio Solutions Inc. Grows Stock Holdings in Zillow Group, Inc. $Z

Envestnet Portfolio Solutions Inc. raised its holdings in Zillow Group, Inc. (NASDAQ:Z) by 42.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,012 shares of the financial services provider’s stock after purchasing an additional 1,488 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Zillow Group were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in Z. Vanguard Group Inc. increased its position in Zillow Group by 7.8% during the 1st 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 during the period. Ninety One UK Ltd increased its position in Zillow Group by 17.4% during the 2nd quarter. Ninety One UK Ltd now owns 4,731,948 shares of the financial services provider’s stock worth $331,473,000 after purchasing an additional 702,445 shares during the period. Atreides Management LP acquired a new position in Zillow Group during the 1st quarter worth approximately $32,159,000. AQR Capital Management LLC increased its position in Zillow Group by 320.0% during the 1st quarter. AQR Capital Management LLC now owns 550,217 shares of the financial services provider’s stock worth $37,222,000 after purchasing an additional 419,202 shares during the period. Finally, Nuveen LLC acquired a new position in Zillow Group during the 1st quarter worth approximately $24,709,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Transactions at Zillow Group

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on Z shares. JPMorgan Chase & Co. boosted their target price on Zillow Group from $79.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Bank of America boosted their target price on Zillow Group from $81.00 to $88.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Sanford C. Bernstein raised Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research note on Wednesday, September 17th. Gordon Haskett raised Zillow Group to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Mizuho raised Zillow Group to a “strong-buy” rating in a research note on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.43.

Zillow Group Stock Performance

Z stock opened at $78.04 on Friday. Zillow Group, Inc. has a 1 year low of $57.00 and a 1 year high of $93.88. The stock’s 50 day moving average price is $80.82 and its 200 day moving average price is $74.48. The firm has a market cap of $18.91 billion, a P/E ratio of -300.15, a PEG ratio of 26.46 and a beta of 2.13.

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.