Baillie Gifford & Co. Sells 180,314 Shares of Zillow Group, Inc. (NASDAQ:Z)

Key Points

• Baillie Gifford & Co. has decreased its stake in Zillow Group by 18.3%, now holding 807,329 shares valued at approximately $55.35 million.
• Several other institutional investors have made significant changes to their positions in Zillow Group, with IFP Advisors Inc increasing their holdings by 288.9% during the first quarter.
• Research analysts have mixed views on Zillow Group, with JPMorgan reducing its price target from $93 to $79, while Wedbush maintains an "outperform" rating and a price target of $100.

Baillie Gifford & Co. decreased its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 18.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 807,329 shares of the financial services provider's stock after selling 180,314 shares during the period. Baillie Gifford & Co. owned 0.33% of Zillow Group worth $55,350,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Brown Brothers Harriman & Co. grew its holdings in shares of Zillow Group by 2.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 7,148 shares of the financial services provider's stock valued at $529,000 after purchasing an additional 148 shares during the last quarter. DoubleLine ETF Adviser LP grew its holdings in Zillow Group by 1.5% in the 4th quarter. DoubleLine ETF Adviser LP now owns 10,868 shares of the financial services provider's stock worth $805,000 after buying an additional 163 shares in the last quarter. Flynn Zito Capital Management LLC lifted its position in Zillow Group by 4.5% in the first 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 during the period. True Vision MN LLC lifted its position in Zillow Group by 2.4% in the first 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 during the period. Finally, GAMMA Investing LLC lifted its position in Zillow Group by 47.7% in the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock worth $42,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

Insider Activity

In other news, insider Errol G. Samuelson sold 6,962 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $68.63, for a total transaction of $477,802.06. Following the completion of the sale, the insider directly owned 135,674 shares of the company's stock, valued at $9,311,306.62. This represents a 4.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gordon Sheridan Stephenson sold 10,000 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $70.69, for a total value of $706,900.00. Following the transaction, the director directly owned 28,290 shares in the company, valued at $1,999,820.10. The trade was a 26.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,093 shares of company stock worth $6,989,688 over the last 90 days. Insiders own 23.76% of the company's stock.

Zillow Group Trading Up 0.9%

Shares of NASDAQ:Z traded up $0.71 during midday trading on Wednesday, hitting $80.55. 307,859 shares of the stock were exchanged, compared to its average volume of 2,608,002. The stock has a market cap of $19.45 billion, a P/E ratio of -236.40, a PEG ratio of 15.11 and a beta of 2.11. The company has a 50 day moving average price of $72.09 and a 200-day moving average price of $72.35. Zillow Group, Inc. has a twelve month low of $41.67 and a twelve month high of $89.39.

Analyst Upgrades and Downgrades

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

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.