Zillow Group, Inc. (NASDAQ:Z) Position Cut by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments LLC has reduced its position in Zillow Group, Inc. by 0.6%, now holding 870,171 shares valued at approximately $59.66 million.
• Currently, 71.01% of Zillow's stock is owned by institutional investors and hedge funds, with several firms adjusting their stakes in the company recently.
• Analysts have set a consensus target price of $88.29 for Zillow shares, with nine analysts rating it as a "hold" and four giving it a buy rating.

Zevenbergen Capital Investments LLC trimmed its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 870,171 shares of the financial services provider's stock after selling 5,049 shares during the quarter. Zillow Group comprises 1.5% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 22nd largest holding. Zevenbergen Capital Investments LLC owned about 0.36% of Zillow Group worth $59,659,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. DoubleLine ETF Adviser LP lifted its position in shares of Zillow Group by 1.5% during the 4th quarter. DoubleLine ETF Adviser LP now owns 10,868 shares of the financial services provider's stock valued at $805,000 after acquiring an additional 163 shares during the last quarter. Flynn Zito Capital Management LLC increased its stake in shares of 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 acquiring an additional 166 shares during the last quarter. True Vision MN LLC boosted its holdings 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 in the last quarter. GAMMA Investing LLC boosted its holdings 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 in the last quarter. Finally, Keel Point LLC boosted its holdings in Zillow Group by 1.7% in the fourth quarter. Keel Point LLC now owns 13,760 shares of the financial services provider's stock worth $1,019,000 after purchasing an additional 234 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on Z. Wedbush restated an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. 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. Wells Fargo & Company raised shares of Zillow Group to a "hold" rating in a research report on Monday, April 28th. William Blair initiated coverage on shares of Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating for the company. Finally, Zelman & Associates reaffirmed a "neutral" rating on shares of Zillow Group in a report on Friday. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $88.29.

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 7,959 shares of Zillow Group stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $549,011.82. Following the completion of the sale, the chief financial officer owned 97,481 shares of the company's stock, valued at approximately $6,724,239.38. The trade was a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dan Spaulding sold 5,534 shares of Zillow Group stock in a transaction on Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $381,735.32. Following the transaction, the insider directly owned 68,889 shares in the company, valued at approximately $4,751,963.22. This represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,371 shares of company stock worth $5,775,204. Corporate insiders own 25.03% of the company's stock.

Zillow Group Stock Performance

Z opened at $80.92 on Friday. The company has a fifty day moving average price of $74.62 and a two-hundred day moving average price of $72.69. Zillow Group, Inc. has a 52 week low of $49.63 and a 52 week high of $89.39. The firm has a market capitalization of $19.54 billion, a PE ratio of -311.23, a P/E/G ratio of 14.95 and a beta of 2.09.

Zillow Group 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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