Belpointe Asset Management LLC Lowers Position in Zillow Group, Inc. $Z

Belpointe Asset Management LLC lowered its holdings in Zillow Group, Inc. (NASDAQ:Z) by 20.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,031 shares of the financial services provider’s stock after selling 2,052 shares during the period. Belpointe Asset Management LLC’s holdings in Zillow Group were worth $563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC raised its holdings 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 acquiring an additional 352 shares in the last quarter. IFP Advisors Inc raised its holdings 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 valued at $31,000 after acquiring an additional 338 shares in the last quarter. National Pension Service increased its position in shares of Zillow Group by 74.8% during 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 last quarter. GAMMA Investing LLC increased its position in shares of Zillow Group by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 196 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Zillow Group during the 1st quarter valued at about $49,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on Z. JPMorgan Chase & Co. raised their price target 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 raised their price target 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 upgraded Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Wednesday, September 17th. Gordon Haskett upgraded Zillow Group to a “strong-buy” rating in a research report on Friday, October 3rd. Finally, Oppenheimer began coverage on Zillow Group in a research report on Monday. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, five have issued 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 has a consensus rating of “Moderate Buy” and an average target price of $90.38.

Zillow Group Stock Performance

NASDAQ Z opened at $70.82 on Friday. Zillow Group, Inc. has a fifty-two week low of $57.00 and a fifty-two week high of $93.88. The stock has a 50 day simple moving average of $82.56 and a two-hundred day simple moving average of $74.16. The stock has a market cap of $17.16 billion, a P/E ratio of -272.38, a price-to-earnings-growth ratio of 24.44 and a beta of 2.13.

Insiders Place Their Bets

In other Zillow Group news, COO Jun Choo sold 25,575 shares of the 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 completion of the sale, the chief operating officer owned 114,129 shares in the company, valued at approximately $10,392,586.74. This trade represents a 18.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO David A. Beitel sold 22,510 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief technology officer owned 144,549 shares of the company’s stock, valued at approximately $13,149,622.53. This trade represents a 13.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 657,087 shares of company stock worth $56,286,479. Insiders own 25.03% of the company’s stock.

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.