Envestnet Portfolio Solutions Inc. Raises Position in Zillow Group, Inc. $Z

Envestnet Portfolio Solutions Inc. grew its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 42.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 1,628,577 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of 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 buying an additional 702,445 shares during the last quarter. Atreides Management LP acquired a new stake in shares of Zillow Group during the 1st quarter worth $32,159,000. AQR Capital Management LLC increased its holdings in shares of 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 buying an additional 419,202 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Zillow Group during the 1st quarter worth $24,709,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $78.04 on Friday. The business has a 50-day moving average of $80.82 and a 200-day moving average of $74.48. The company has a market capitalization of $18.91 billion, a PE ratio of -300.15, a P/E/G ratio of 26.46 and a beta of 2.13. Zillow Group, Inc. has a 1-year low of $57.00 and a 1-year high of $93.88.

Analyst Ratings Changes

A number of analysts have recently commented on Z shares. Bank of America upped their price objective on Zillow Group from $81.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Gordon Haskett upgraded Zillow Group to a “strong-buy” rating in a report on Friday, October 3rd. Oppenheimer assumed coverage on Zillow Group in a report on Monday, October 6th. They set a “market perform” rating for the company. Sanford C. Bernstein upgraded Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price target for the company in a report on Wednesday, September 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average price target of $90.43.

Insider Activity at Zillow Group

In other news, Director April Underwood sold 3,621 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $90.12, for a total transaction of $326,324.52. Following the completion of the sale, the director directly owned 483 shares in the company, valued at $43,527.96. This trade represents a 88.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $89.99, for a total value of $2,249,750.00. Following the sale, the chief financial officer owned 84,146 shares of the company’s stock, valued at $7,572,298.54. This represents a 22.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 657,087 shares of company stock valued at $56,286,479. 25.03% of the stock is currently owned by 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.