Envestnet Portfolio Solutions Inc. Cuts Stake in Zillow Group, Inc. (NASDAQ:Z)

Envestnet Portfolio Solutions Inc. decreased its stake in Zillow Group, Inc. (NASDAQ:Z) by 18.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,920 shares of the financial services provider’s stock after selling 1,081 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Zillow Group were worth $228,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in Zillow Group during the 4th quarter valued at $25,000. Concord Wealth Partners acquired a new stake in shares of Zillow Group during the first quarter valued at about $26,000. Fidelis Capital Partners LLC purchased a new stake in shares of Zillow Group during the first quarter worth about $37,000. Principal Securities Inc. acquired a new position in shares of Zillow Group in the fourth quarter worth about $53,000. Finally, Mather Group LLC. acquired a new position in shares of Zillow Group in the first quarter worth about $62,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Activity at Zillow Group

In other news, insider Susan Daimler sold 5,907 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $47.74, for a total transaction of $282,000.18. Following the completion of the transaction, the insider now owns 29,665 shares in the company, valued at $1,416,207.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zillow Group news, CAO Jennifer Rock sold 3,650 shares of Zillow Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $54.71, for a total transaction of $199,691.50. Following the sale, the chief accounting officer now owns 72,836 shares of the company’s stock, valued at approximately $3,984,857.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Susan Daimler sold 5,907 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $47.74, for a total value of $282,000.18. Following the transaction, the insider now owns 29,665 shares of the company’s stock, valued at approximately $1,416,207.10. The disclosure for this sale can be found here. Insiders sold 200,965 shares of company stock worth $10,164,052 in the last 90 days. 23.76% of the stock is currently owned by company insiders.

Zillow Group Stock Up 5.2 %

NASDAQ:Z opened at $56.35 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $49.17 and a 200-day moving average of $48.21. The firm has a market capitalization of $13.31 billion, a PE ratio of -81.67 and a beta of 1.98. Zillow Group, Inc. has a 52 week low of $33.80 and a 52 week high of $61.13.

Analyst Ratings Changes

Several equities research analysts have issued reports on Z shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. cut their price target on shares of Zillow Group from $65.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Wedbush reissued a “neutral” rating and set a $50.00 price objective on shares of Zillow Group in a report on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research note on Thursday, August 8th. Finally, UBS Group upgraded Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.20.

Zillow Group Company 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.