Aigen Investment Management LP Decreases Stock Position in Zillow Group, Inc. (NASDAQ:Z)

Key Points

• Aigen Investment Management LP decreased its stake in Zillow Group by 74.8% in the first quarter, holding 4,976 shares worth approximately $341,000 after selling 14,804 shares.
• Institutional investors now own 71.01% of Zillow Group's stock, with notable increases from firms like Vanguard Group Inc. and Ninety One UK Ltd during the first quarter.
• Shares of Zillow Group opened at $84.84 and have a market cap of $20.48 billion, with a 12-month stock price range between $51.94 and $89.39.

Aigen Investment Management LP lessened its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 74.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,976 shares of the financial services provider's stock after selling 14,804 shares during the quarter. Aigen Investment Management LP's holdings in Zillow Group were worth $341,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. DoubleLine ETF Adviser LP lifted its stake in Zillow Group by 1.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 10,868 shares of the financial services provider's stock worth $805,000 after acquiring an additional 163 shares during the period. Flynn Zito Capital Management LLC lifted its stake in 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 period. True Vision MN LLC raised 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 raised 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 raised 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. Hedge funds and other institutional investors own 71.01% of the company's stock.

Analyst Ratings Changes

Z has been the subject of a number of research reports. Bank of America increased their price objective on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Wedbush restated an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a report on Monday, April 28th. JPMorgan Chase & Co. raised their price target on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, William Blair began coverage on Zillow Group in a report on Monday, April 21st. They set a "market perform" rating for the company. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Zillow Group has a consensus rating of "Hold" and a consensus target price of $88.29.

Zillow Group Stock Performance

NASDAQ:Z traded down $0.16 during trading hours on Friday, reaching $85.11. The stock had a trading volume of 2,391,941 shares, compared to its average volume of 2,926,148. Zillow Group, Inc. has a 52 week low of $52.45 and a 52 week high of $89.39. The company has a 50 day moving average price of $75.96 and a two-hundred day moving average price of $72.74.

Insider Activity at Zillow Group

In other Zillow Group news, 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 value of $8,591,000.00. Following the completion of the sale, the insider directly owned 68,889 shares in the company, valued at approximately $5,918,253.99. This represents a 59.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeremy Wacksman sold 11,275 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.73, for a total value of $966,605.75. Following the completion of the sale, the chief executive officer owned 153,113 shares of the company's stock, valued at $13,126,377.49. This represents a 6.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 230,379 shares of company stock worth $19,483,729 over the last quarter. 25.03% of the stock is owned by insiders.

About Zillow Group

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.