3,500 Shares in Zillow Group, Inc. (NASDAQ:Z) Acquired by Independent Advisor Alliance

Independent Advisor Alliance acquired a new stake in Zillow Group, Inc. (NASDAQ:Z) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,500 shares of the financial services provider’s stock, valued at approximately $223,000.

A number of other hedge funds also recently made changes to their positions in the company. abrdn plc increased its position in shares of Zillow Group by 98.0% during the third quarter. abrdn plc now owns 48,990 shares of the financial services provider’s stock worth $3,128,000 after acquiring an additional 24,247 shares during the last quarter. Prudential PLC acquired a new position in shares of Zillow Group in the 2nd quarter valued at approximately $474,000. IVY Lane Capital Management LLC boosted its stake in shares of Zillow Group by 35.0% during the 3rd quarter. IVY Lane Capital Management LLC now owns 135,000 shares of the financial services provider’s stock valued at $8,620,000 after buying an additional 35,000 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Zillow Group during the 3rd quarter valued at approximately $6,267,000. Finally, Entropy Technologies LP acquired a new stake in shares of Zillow Group during the third quarter worth approximately $1,370,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Price Performance

NASDAQ Z opened at $84.71 on Friday. The firm has a market capitalization of $19.78 billion, a PE ratio of -148.61 and a beta of 1.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. Zillow Group, Inc. has a 12 month low of $38.45 and a 12 month high of $86.88. The company’s 50 day simple moving average is $67.44 and its 200 day simple moving average is $55.51.

Analysts Set New Price Targets

A number of equities analysts recently commented on Z shares. Craig Hallum upgraded Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $50.00 to $80.00 in a report on Monday, September 16th. UBS Group raised Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group lifted their price objective on shares of Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Bank of America increased their target price on shares of Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

Insider Activity

In related news, insider Susan Daimler sold 3,484 shares of Zillow Group stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total value of $188,763.12. Following the transaction, the insider now owns 22,464 shares of the company’s stock, valued at approximately $1,217,099.52. This trade represents a 13.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,212 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total transaction of $89,663.76. Following the sale, the general counsel now directly owns 31,739 shares of the company’s stock, valued at $2,348,051.22. This represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,439 shares of company stock worth $11,576,823. Corporate insiders own 23.76% 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.