Baird Financial Group Inc. Has $1.69 Million Stock Position in Zillow Group, Inc. $ZG

Key Points

• Baird Financial Group Inc. reduced its stake in Zillow Group by 25.2% to a total of $1.69 million, owning 25,219 shares after selling 8,485 shares in the first quarter.
• Several other institutional investors, including National Bank of Canada, also adjusted their positions in Zillow Group, with the National Bank boosting its stake by 79.4%.
• In recent insider transactions, two company directors sold significant portions of their shares, with one selling 100,000 shares valued at approximately $8.59 million, indicating a 59.21% decrease in ownership.

Baird Financial Group Inc. lowered its stake in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 25.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,219 shares of the technology company's stock after selling 8,485 shares during the period. Baird Financial Group Inc.'s holdings in Zillow Group were worth $1,686,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its position in Zillow Group by 79.4% in the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after buying an additional 216 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in Zillow Group in the first quarter valued at approximately $42,000. CX Institutional acquired a new stake in Zillow Group in the first quarter valued at approximately $46,000. Wood Tarver Financial Group LLC acquired a new stake in Zillow Group in the fourth quarter valued at approximately $70,000. Finally, PNC Financial Services Group Inc. boosted its position in Zillow Group by 33.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 20.32% of the company's stock.

Insiders Place Their Bets

In related news, Director Thielke Claire Cormier sold 8,247 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $79.86, for a total value of $658,605.42. Following the transaction, the director owned 725 shares in the company, valued at $57,898.50. The trade was a 91.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dan Spaulding sold 100,000 shares of Zillow Group stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the completion of the sale, the insider directly owned 68,889 shares of the company's stock, valued at approximately $5,918,253.99. This trade represents a 59.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 580,622 shares of company stock valued at $49,350,788 over the last quarter. Company insiders own 17.14% of the company's stock.

Zillow Group Stock Up 4.8%

ZG stock opened at $84.78 on Monday. The firm has a market cap of $20.54 billion, a price-to-earnings ratio of -326.08, a PEG ratio of 15.97 and a beta of 2.02. Zillow Group, Inc. has a 12-month low of $51.16 and a 12-month high of $86.58. The company's fifty day simple moving average is $77.47 and its 200 day simple moving average is $70.93.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. Zillow Group's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 EPS. Research analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays restated an "underweight" rating and issued a $66.00 target price (up previously from $60.00) on shares of Zillow Group in a research report on Thursday, August 7th. Zelman & Associates upgraded shares of Zillow Group to a "hold" rating in a report on Friday, August 8th. Royal Bank Of Canada lifted their price target on shares of Zillow Group from $88.00 to $95.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wells Fargo & Company lifted their price target on shares of Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Finally, Evercore ISI lifted their price target on shares of Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Zillow Group has an average rating of "Hold" and an average target price of $85.62.

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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