231,002 Zillow Group, Inc. $Z Shares Bought by IFP Advisors Inc

IFP Advisors Inc boosted its holdings in Zillow Group, Inc. (NASDAQ:Z) by 97.0% in the third quarter, Holdings Channel reports. The institutional investor owned 469,184 shares of the financial services provider’s stock after buying an additional 231,002 shares during the period. IFP Advisors Inc’s holdings in Zillow Group were worth $12,729,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. NFSG Corp bought a new stake in Zillow Group during the 3rd quarter worth approximately $98,000. Assenagon Asset Management S.A. increased its position in Zillow Group by 9.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 331,762 shares of the financial services provider’s stock valued at $9,001,000 after acquiring an additional 27,832 shares during the period. Fortitude Family Office LLC acquired a new position in Zillow Group in the 3rd quarter valued at approximately $27,000. Farther Finance Advisors LLC increased its position in Zillow Group by 704.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,631 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 4,931 shares during the period. Finally, Engineers Gate Manager LP bought a new position in shares of Zillow Group during the second quarter valued at $4,676,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on Z. Jefferies Financial Group cut their price target on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Morgan Stanley reduced their price objective on shares of Zillow Group from $60.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 13th. Evercore downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Weiss Ratings restated a “sell (d)” rating on shares of Zillow Group in a report on Wednesday, August 19th. Finally, Wall Street Zen lowered Zillow Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Zillow Group has an average rating of “Hold” and an average price target of $57.71.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 3,169 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $35.37, for a total transaction of $112,087.53. Following the completion of the sale, the insider owned 44,561 shares of the company’s stock, valued at $1,576,122.57. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the sale, the chief financial officer owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. The trade was a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 38,539 shares of company stock worth $1,323,800 over the last three months. Insiders own 25.03% of the company’s stock.

Zillow Group Stock Down 2.0%

Z stock opened at $30.82 on Friday. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 140.10, a PEG ratio of 1.36 and a beta of 2.04. Zillow Group, Inc. has a 12-month low of $26.67 and a 12-month high of $79.40. The company’s fifty day simple moving average is $31.82 and its 200 day simple moving average is $34.99.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The firm had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. Research analysts expect that Zillow Group, Inc. will post 0.88 earnings per share for the current year.

About Zillow Group

Zillow Group, Inc is a technology company that operates digital real estate marketplaces and related services in the United States. Its platforms help consumers search for homes to buy or rent, research neighborhoods and property values, connect with real estate professionals, and manage aspects of the transaction process.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, along with services such as Zillow Premier Agent, Zillow Rentals, ShowingTime+ and Zillow Home Loans.