Baillie Gifford & Co. Cuts Holdings in Zillow Group, Inc. (NASDAQ:Z)

Baillie Gifford & Co. trimmed its position in Zillow Group, Inc. (NASDAQ:Z) by 12.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,616,402 shares of the financial services provider’s stock after selling 238,053 shares during the quarter. Baillie Gifford & Co.’s holdings in Zillow Group were worth $78,848,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Ninety One UK Ltd raised its position in Zillow Group by 29.4% during the fourth quarter. Ninety One UK Ltd now owns 1,899,383 shares of the financial services provider’s stock valued at $109,898,000 after purchasing an additional 431,070 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Zillow Group by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,475,559 shares of the financial services provider’s stock worth $85,376,000 after buying an additional 80,529 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Zillow Group by 7,507.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,133,685 shares of the financial services provider’s stock worth $55,301,000 after buying an additional 1,118,782 shares during the period. Greencape Capital Pty Ltd increased its position in Zillow Group by 70.0% during the fourth quarter. Greencape Capital Pty Ltd now owns 846,190 shares of the financial services provider’s stock valued at $48,961,000 after acquiring an additional 348,354 shares during the last quarter. Finally, Minot Capital LP raised its stake in shares of Zillow Group by 15.5% in the fourth quarter. Minot Capital LP now owns 828,566 shares of the financial services provider’s stock valued at $47,941,000 after acquiring an additional 111,400 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on Z shares. Wedbush dropped their price target on shares of Zillow Group from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their target price on Zillow Group from $65.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Zillow Group has a consensus rating of “Hold” and a consensus price target of $56.20.

Zillow Group Trading Up 0.9 %

Shares of Zillow Group stock traded up $0.43 on Friday, hitting $46.23. 1,744,036 shares of the company traded hands, compared to its average volume of 4,020,225. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.21. The company has a market cap of $10.92 billion, a PE ratio of -67.00 and a beta of 1.98. The stock’s 50 day moving average price is $43.88 and its 200-day moving average price is $49.66. Zillow Group, Inc. has a 52 week low of $33.80 and a 52 week high of $61.13.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.42). The firm had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $509.30 million. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Equities research analysts predict that Zillow Group, Inc. will post -0.4 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Jeremy Hofmann sold 8,562 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $39.05, for a total value of $334,346.10. Following the completion of the transaction, the chief financial officer now owns 123,123 shares of the company’s stock, valued at $4,807,953.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Zillow Group news, CFO Jeremy Hofmann sold 8,562 shares of Zillow Group stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $39.05, for a total value of $334,346.10. Following the transaction, the chief financial officer now owns 123,123 shares in the company, valued at $4,807,953.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Daimler sold 5,786 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $44.22, for a total transaction of $255,856.92. Following the sale, the insider now directly owns 35,572 shares of the company’s stock, valued at $1,572,993.84. The disclosure for this sale can be found here. Insiders have sold a total of 60,041 shares of company stock worth $2,637,477 in the last three months. Corporate insiders own 23.76% of the company’s stock.

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.