Garde Capital Inc. Sells 3,982 Shares of Zillow Group, Inc. $Z

Key Points

• Garde Capital Inc. reduced its holdings in Zillow Group, selling 3,982 shares and now owning 279,573 shares, which constitutes 1.0% of their portfolio.
• Institutional ownership of Zillow Group stands at 71.01%, with notable increases from other investors such as Vanguard Group and Ninety One UK Ltd.
• Analysts have reacted positively, with increased target prices from Bank of America and JPMorgan Chase, indicating an average target price of $88.29 for Zillow Group shares.

Garde Capital Inc. cut its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 279,573 shares of the financial services provider's stock after selling 3,982 shares during the period. Zillow Group accounts for 1.0% of Garde Capital Inc.'s portfolio, making the stock its 25th largest holding. Garde Capital Inc. owned 0.12% of Zillow Group worth $19,584,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in Z. Vanguard Group Inc. lifted its stake in shares of Zillow Group by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider's stock valued at $1,548,767,000 after buying an additional 1,628,577 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in shares of Zillow Group by 2.5% during the 1st quarter. Independent Franchise Partners LLP now owns 11,153,697 shares of the financial services provider's stock valued at $764,697,000 after buying an additional 271,084 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of Zillow Group by 11.4% during the 1st quarter. Ninety One UK Ltd now owns 4,029,503 shares of the financial services provider's stock valued at $276,263,000 after buying an additional 411,742 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Zillow Group by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,584,537 shares of the financial services provider's stock valued at $108,636,000 after buying an additional 45,828 shares in the last quarter. Finally, Altimeter Capital Management LP lifted its stake in shares of Zillow Group by 1.8% during the 1st quarter. Altimeter Capital Management LP now owns 1,323,554 shares of the financial services provider's stock valued at $90,743,000 after buying an additional 22,816 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on Z shares. Bank of America lifted their target price on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.29.

Insider Buying and Selling at Zillow Group

In other news, CTO David A. Beitel sold 22,510 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $90.97, for a total value of $2,047,734.70. Following the sale, the chief technology officer owned 144,549 shares in the company, valued at $13,149,622.53. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dan Spaulding sold 100,000 shares of the stock in a transaction on Thursday, August 7th. The stock was 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 owned 68,889 shares in the company, valued at $5,918,253.99. The trade was a 59.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 657,087 shares of company stock worth $56,286,479 in the last three months. 25.03% of the stock is owned by company insiders.

Zillow Group Trading Down 1.7%

Shares of Zillow Group stock opened at $87.78 on Friday. Zillow Group, Inc. has a 12-month low of $56.82 and a 12-month high of $91.93. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of -337.62, a PEG ratio of 9.36 and a beta of 2.04. The firm's 50 day simple moving average is $82.05 and its two-hundred day simple moving average is $73.30.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.