Garde Capital Inc. Trims Holdings in 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. trimmed its position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 279,573 shares of the financial services provider's stock after selling 3,982 shares during the period. Zillow Group comprises 1.0% of Garde Capital Inc.'s holdings, making the stock its 25th biggest holding. Garde Capital Inc. owned approximately 0.12% of Zillow Group worth $19,584,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on Z. Bank of America upped their target price on shares of Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Sanford C. Bernstein raised shares of Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price target for the company in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.38.

Insider Buying and Selling

In other Zillow Group news, CFO Jeremy Hofmann sold 25,000 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $89.99, for a total value of $2,249,750.00. Following the transaction, the chief financial officer directly owned 84,146 shares of the company's stock, valued at approximately $7,572,298.54. The trade was a 22.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dan Spaulding sold 100,000 shares of the company's 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 transaction, the insider directly owned 68,889 shares in the company, 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 sold a total of 657,087 shares of company stock worth $56,286,479 in the last ninety days. Insiders own 25.03% of the company's stock.

Zillow Group Stock Performance

Z traded down $0.59 during trading on Thursday, hitting $89.73. The stock had a trading volume of 1,386,269 shares, compared to its average volume of 2,660,387. The firm has a market capitalization of $21.74 billion, a P/E ratio of -345.11, a PEG ratio of 24.66 and a beta of 2.04. The company's 50-day moving average price is $82.96 and its 200 day moving average price is $73.54. Zillow Group, Inc. has a twelve month low of $57.00 and a twelve month high of $93.88.

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.