Independent Advisor Alliance Invests $223,000 in Zillow Group, Inc. (NASDAQ:Z)

Independent Advisor Alliance purchased a new stake in Zillow Group, Inc. (NASDAQ:Z) in the 3rd quarter, HoldingsChannel reports. The firm purchased 3,500 shares of the financial services provider’s stock, valued at approximately $223,000.

A number of other hedge funds have also recently added to or reduced their stakes in Z. Dorsal Capital Management LP boosted its stake in shares of Zillow Group by 59.8% during the 2nd quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider’s stock worth $143,809,000 after acquiring an additional 1,160,000 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in Zillow Group by 238.9% during the second quarter. Coronation Fund Managers Ltd. now owns 864,733 shares of the financial services provider’s stock worth $40,115,000 after purchasing an additional 609,575 shares during the period. International Assets Investment Management LLC grew its holdings in Zillow Group by 8,162.8% during the third quarter. International Assets Investment Management LLC now owns 246,397 shares of the financial services provider’s stock valued at $15,732,000 after purchasing an additional 243,415 shares during the last quarter. Swedbank AB acquired a new stake in shares of Zillow Group in the first quarter worth $9,103,000. Finally, Hillman Co. acquired a new stake in shares of Zillow Group in the third quarter worth $11,825,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Zillow Group Price Performance

Shares of Z stock opened at $84.71 on Friday. Zillow Group, Inc. has a 12 month low of $38.45 and a 12 month high of $86.88. The company has a market capitalization of $19.78 billion, a P/E ratio of -148.61 and a beta of 1.95. The stock has a 50 day moving average of $67.44 and a two-hundred day moving average of $55.51. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

Insider Activity at Zillow Group

In related news, CFO Jeremy Hofmann sold 7,175 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $85.36, for a total transaction of $612,458.00. Following the completion of the transaction, the chief financial officer now owns 99,362 shares in the company, valued at $8,481,540.32. This trade represents a 6.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Daimler sold 3,484 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the sale, the insider now owns 22,464 shares in the company, valued at $1,217,099.52. This trade represents a 13.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,439 shares of company stock worth $11,576,823. 23.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Z has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Thursday, November 7th. Cantor Fitzgerald raised Zillow Group to a “hold” rating in a research report on Thursday, September 5th. Jefferies Financial Group increased their target price on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. UBS Group raised Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Craig Hallum raised Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Zillow Group has a consensus rating of “Moderate Buy” and an average price target of $70.33.

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.