Wealthfront Advisers LLC Sells 557 Shares of Zillow Group, Inc. $Z

Wealthfront Advisers LLC cut its stake in Zillow Group, Inc. (NASDAQ:Z) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,491 shares of the financial services provider’s stock after selling 557 shares during the period. Wealthfront Advisers LLC’s holdings in Zillow Group were worth $2,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. 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 in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Zillow Group by 352.0% in the 2nd quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 352 shares during the period. National Pension Service lifted its stake in shares of Zillow Group by 74.8% in the 1st 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 period. GAMMA Investing LLC boosted its position in shares of Zillow Group by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 196 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Zillow Group during the first quarter worth $49,000. 71.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Z has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped 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. Mizuho upgraded shares of Zillow Group to a “strong-buy” rating in a research report on Monday, September 29th. Sanford C. Bernstein raised shares of Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research note on Wednesday, September 17th. Bank of America boosted their price objective on shares of Zillow Group from $81.00 to $88.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Finally, Gordon Haskett upgraded shares of Zillow Group to a “strong-buy” rating in a report on Friday, October 3rd. Three investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and an average target price of $90.43.

Zillow Group Stock Performance

Shares of Z opened at $71.72 on Friday. The firm has a market cap of $17.38 billion, a P/E ratio of -275.85, a PEG ratio of 24.46 and a beta of 2.13. Zillow Group, Inc. has a twelve month low of $57.51 and a twelve month high of $93.88. The firm’s 50 day moving average price is $79.96 and its two-hundred day moving average price is $74.97.

Insiders Place Their Bets

In other news, CTO David A. Beitel sold 22,510 shares of the business’s stock in a transaction dated 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 directly owned 144,549 shares in the company, valued at $13,149,622.53. The trade was a 13.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Erik C. Blachford sold 966 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $81.91, for a total value of $79,125.06. Following the transaction, the director directly owned 34,508 shares of the company’s stock, valued at $2,826,550.28. This represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 657,087 shares of company stock worth $56,286,479 in the last ninety days. 25.03% of the stock is 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.