Zevenbergen Capital Investments LLC Sells 5,049 Shares of Zillow Group, Inc. (NASDAQ:Z)

Zevenbergen Capital Investments LLC reduced its position in Zillow Group, Inc. (NASDAQ:Z) by 0.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 870,171 shares of the financial services provider’s stock after selling 5,049 shares during the period. Zillow Group comprises 1.5% of Zevenbergen Capital Investments LLC’s holdings, making the stock its 22nd largest position. Zevenbergen Capital Investments LLC’s holdings in Zillow Group were worth $59,659,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of Z. IFP Advisors Inc increased its holdings in shares of Zillow Group by 288.9% during the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 338 shares during the period. GAMMA Investing LLC grew its stake in shares of Zillow Group by 47.7% during the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider’s stock worth $42,000 after buying an additional 196 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Zillow Group during the first quarter worth $49,000. National Bank of Canada FI bought a new stake in shares of Zillow Group during the fourth quarter worth $55,000. Finally, Natixis acquired a new position in shares of Zillow Group during the fourth quarter worth $80,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zillow Group

In related news, General Counsel Bradley D. Owens sold 3,466 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.96, for a total transaction of $239,015.36. Following the sale, the general counsel directly owned 47,215 shares in the company, valued at approximately $3,255,946.40. This represents a 6.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeremy Wacksman sold 10,984 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $757,676.32. Following the sale, the chief executive officer owned 171,517 shares in the company, valued at $11,831,242.66. The trade was a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,371 shares of company stock worth $5,775,204 in the last ninety days. Insiders own 25.03% of the company’s stock.

Zillow Group Stock Down 4.4%

Z opened at $80.92 on Friday. The stock has a market cap of $19.54 billion, a price-to-earnings ratio of -311.23, a PEG ratio of 14.95 and a beta of 2.09. Zillow Group, Inc. has a twelve month low of $49.63 and a twelve month high of $89.39. The company’s 50-day moving average price is $74.62 and its two-hundred day moving average price is $72.69.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. William Blair assumed coverage on shares of Zillow Group in a report on Monday, April 21st. They set a “market perform” rating on the stock. Bank of America raised their target price on Zillow Group from $81.00 to $88.00 and gave the company a “neutral” rating in a research note on Thursday. Wedbush restated an “outperform” rating and issued a $100.00 target price on shares of Zillow Group in a research note on Monday, May 5th. Wells Fargo & Company raised shares of Zillow Group to a “hold” rating in a research report on Monday, April 28th. Finally, Zelman & Associates reissued a “neutral” rating on shares of Zillow Group in a research report on Friday. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Zillow Group presently has a consensus rating of “Hold” and an average price target of $88.29.

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.