ARK Investment Management LLC Has $9.30 Million Stock Holdings in Zillow Group, Inc. (NASDAQ:Z)

Key Points

• ARK Investment Management LLC has reduced its holdings in Zillow Group, Inc. by 9.7%, now owning 135,570 shares valued at approximately $9.3 million.
• A number of institutional investors have recently increased their stakes in Zillow, with 71.01% of the stock currently owned by institutional investors and hedge funds.
• Analysts have mixed views on Zillow's stock, with an average rating of "Moderate Buy" and a consensus price target of $83.71.

ARK Investment Management LLC trimmed its position in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 9.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,570 shares of the financial services provider's stock after selling 14,560 shares during the quarter. ARK Investment Management LLC owned 0.06% of Zillow Group worth $9,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its holdings in Zillow Group by 2.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 7,148 shares of the financial services provider's stock valued at $529,000 after buying an additional 148 shares in the last quarter. DoubleLine ETF Adviser LP grew its holdings in shares of Zillow Group by 1.5% during the 4th quarter. DoubleLine ETF Adviser LP now owns 10,868 shares of the financial services provider's stock worth $805,000 after purchasing an additional 163 shares in the last quarter. Flynn Zito Capital Management LLC grew its holdings in shares of Zillow Group by 4.5% during the 1st quarter. Flynn Zito Capital Management LLC now owns 3,856 shares of the financial services provider's stock worth $264,000 after purchasing an additional 166 shares in the last quarter. True Vision MN LLC grew its holdings in shares of Zillow Group by 2.4% during the 1st quarter. True Vision MN LLC now owns 7,599 shares of the financial services provider's stock worth $521,000 after purchasing an additional 176 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings 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 worth $42,000 after purchasing an additional 196 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on Z shares. Wedbush reissued an "outperform" rating and set a $100.00 target price on shares of Zillow Group in a report on Monday, May 5th. Keefe, Bruyette & Woods reduced their price objective on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. William Blair began coverage on Zillow Group in a research note on Monday, April 21st. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. reduced their price objective on Zillow Group from $93.00 to $79.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Wells Fargo & Company raised Zillow Group to a "hold" rating in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.71.

Zillow Group Price Performance

NASDAQ Z opened at $81.16 on Friday. The business has a 50 day simple moving average of $71.56 and a 200 day simple moving average of $72.21. Zillow Group, Inc. has a one year low of $41.67 and a one year high of $89.39. The stock has a market capitalization of $19.60 billion, a P/E ratio of -238.71, a P/E/G ratio of 14.85 and a beta of 2.11.

Insider Transactions at Zillow Group

In other Zillow Group news, Director Erik C. Blachford sold 965 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $70.35, for a total value of $67,887.75. Following the completion of the sale, the director owned 35,474 shares of the company's stock, valued at approximately $2,495,595.90. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeremy Wacksman sold 10,984 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $757,676.32. Following the completion of the sale, the chief executive officer directly owned 171,517 shares of the company's stock, valued at $11,831,242.66. This trade represents a 6.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,093 shares of company stock valued at $6,989,688. Company insiders own 25.03% of the company's stock.

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.

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