GAMMA Investing LLC Grows Stake in Zillow Group, Inc. $Z

GAMMA Investing LLC lifted its position in Zillow Group, Inc. (NASDAQ:Z) by 46.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 886 shares of the financial services provider’s stock after buying an additional 279 shares during the period. GAMMA Investing LLC’s holdings in Zillow Group were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of Z. IFP Advisors Inc boosted its stake in shares of Zillow Group by 288.9% in the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider’s stock worth $31,000 after buying an additional 338 shares during the last quarter. National Pension Service boosted 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 worth $40,000 after buying an additional 247 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Zillow Group in the 1st quarter worth $49,000. Farther Finance Advisors LLC boosted its stake in shares of Zillow Group by 25.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 792 shares of the financial services provider’s stock worth $55,000 after buying an additional 159 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Zillow Group by 141.8% in the 1st quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider’s stock worth $115,000 after buying an additional 984 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Z has been the topic of a number of research reports. Bank of America raised their price target on Zillow Group from $81.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a research note on Saturday, September 27th. JPMorgan Chase & Co. lifted their target price on Zillow Group from $79.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Sanford C. Bernstein upgraded Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research report on Wednesday, September 17th. Finally, Mizuho upgraded Zillow Group to a “strong-buy” rating in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.38.

Zillow Group Trading Up 2.6%

Shares of Z opened at $76.79 on Friday. Zillow Group, Inc. has a 12 month low of $57.00 and a 12 month high of $93.88. The stock has a fifty day moving average price of $83.19 and a 200-day moving average price of $74.14. The firm has a market cap of $18.60 billion, a PE ratio of -295.35, a P/E/G ratio of 20.84 and a beta of 2.13.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $85.91, for a total value of $8,591,000.00. Following the completion of the transaction, the insider owned 68,889 shares in the company, valued at $5,918,253.99. This trade represents a 59.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeremy Hofmann sold 25,000 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $89.99, for a total value of $2,249,750.00. Following the completion of the transaction, the chief financial officer owned 84,146 shares of the company’s stock, valued at $7,572,298.54. This trade represents a 22.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 657,087 shares of company stock worth $56,286,479 over the last three months. Corporate insiders own 25.03% of the company’s stock.

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.