Gateway Investment Advisers LLC Cuts Stock Holdings in Zillow Group, Inc. (NASDAQ:Z)

Gateway Investment Advisers LLC lowered its position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 25.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,593 shares of the financial services provider's stock after selling 34,328 shares during the period. Gateway Investment Advisers LLC's holdings in Zillow Group were worth $6,897,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in Z. PNC Financial Services Group Inc. raised its position in Zillow Group by 1.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,532 shares of the financial services provider's stock worth $706,000 after buying an additional 116 shares during the last quarter. Independent Advisor Alliance grew its stake in shares of Zillow Group by 3.4% in the fourth quarter. Independent Advisor Alliance now owns 3,620 shares of the financial services provider's stock worth $268,000 after acquiring an additional 120 shares during the period. Blue Trust Inc. raised its holdings in shares of Zillow Group by 17.5% during the fourth quarter. Blue Trust Inc. now owns 922 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 137 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in 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 period. Finally, DoubleLine ETF Adviser LP lifted its position in Zillow Group by 1.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 10,868 shares of the financial services provider's stock valued at $805,000 after purchasing an additional 163 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Errol G. Samuelson sold 2,854 shares of Zillow Group stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total value of $209,312.36. Following the completion of the transaction, the insider now owns 142,636 shares in the company, valued at approximately $10,460,924.24. This trade represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dan Spaulding sold 5,534 shares of Zillow Group stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $381,735.32. Following the completion of the transaction, the insider now owns 68,889 shares of the company's stock, valued at approximately $4,751,963.22. This trade represents a 7.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,741 shares of company stock worth $7,114,134. 25.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. JPMorgan Chase & Co. cut their price objective on Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zillow Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Wedbush restated an "outperform" rating and set a $100.00 target price on shares of Zillow Group in a research report on Monday, May 5th. Finally, William Blair began coverage on shares of Zillow Group in a report on Monday, April 21st. They set a "market perform" rating for the company. 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 company. According to MarketBeat.com, Zillow Group currently has a consensus rating of "Moderate Buy" and an average target price of $83.71.

Zillow Group Stock Up 0.7%

Shares of Z stock opened at $70.29 on Friday. The company's fifty day simple moving average is $66.33 and its two-hundred day simple moving average is $73.67. Zillow Group, Inc. has a 52 week low of $41.67 and a 52 week high of $89.39. The stock has a market cap of $16.97 billion, a P/E ratio of -149.55, a PEG ratio of 9.24 and a beta of 2.12.

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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