Zillow Stock Sees Mixed Views from Analysts Amidst Institutional Changes
The changes in institutional investors' positions and mixed views from analysts have resulted in a consensus price target of $83.71, with the company's stock trading at $81.82. The mixed ratings and price targets from analysts reflect the uncertainty surrounding Zillow Group's stock, making it essential for investors to closely monitor any developments that may impact its performance.
ARK Investment Management LLC has reduced its holdings in Zillow Group, Inc. by 9.7% to 135,570 shares worth $9.3 million, amidst mixed views from analysts and significant changes in institutional investors' positions.
Institutional investors and hedge funds own 71.01% of Zillow Group's stock, with Baillie Gifford & Co. reducing its stake by 18.3% to 807,329 shares valued at approximately $55.35 million. Other investors, such as IFP Advisors Inc, have increased their holdings by 288.9% during the first quarter, while Victory Capital Management Inc. boosted its stake by 25.7% to own 48,960 shares valued at $3.36 million.
Research analysts have mixed views on Zillow Group, with JPMorgan reducing its price target from $93 to $79, while Wedbush maintains an "outperform" rating and a price target of $100. The company's stock has traded up $0.66 on Monday, reaching $81.82, with a market cap of $19.76 billion and a P/E ratio of -240.65.
The mixed views from analysts and significant changes in institutional investors' positions reflect the uncertainty surrounding Zillow Group's stock, with a consensus price target of $83.71 and eight analysts rating it a "hold". As the company's stock continues to fluctuate, investors will be closely watching for any developments that may impact its performance.