Norges Bank Buys Shares of 215,033 Zillow Group, Inc. (NASDAQ:Z)

Norges Bank purchased a new stake in Zillow Group, Inc. (NASDAQ:Z) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 215,033 shares of the financial services provider’s stock, valued at approximately $15,923,000. Norges Bank owned about 0.09% of Zillow Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of Z. Assetmark Inc. boosted its position in shares of Zillow Group by 7,410.0% during the fourth quarter. Assetmark Inc. now owns 751 shares of the financial services provider’s stock worth $56,000 after buying an additional 741 shares during the period. Blue Trust Inc. lifted its stake in Zillow Group by 17.5% during the 4th quarter. Blue Trust Inc. now owns 922 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 137 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Zillow Group by 53.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 367 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Zillow Group by 86.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,250 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 579 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its stake in Zillow Group by 17.9% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,617 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 245 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 23,388 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.98, for a total value of $1,987,512.24. Following the sale, the chief financial officer now owns 99,362 shares of the company’s stock, valued at $8,443,782.76. This represents a 19.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jun Choo sold 1,277 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $99,248.44. Following the transaction, the chief operating officer now directly owns 86,853 shares of the company’s stock, valued at approximately $6,750,215.16. This trade represents a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,919 shares of company stock worth $7,869,478 over the last 90 days. Company insiders own 23.76% of the company’s stock.

Analyst Ratings Changes

Z has been the subject of several research reports. KeyCorp upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Baird R W upgraded Zillow Group to a “hold” rating in a report on Friday, January 31st. Wedbush restated an “outperform” rating and issued a $100.00 price objective on shares of Zillow Group in a report on Wednesday, February 12th. Morgan Stanley increased their target price on Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.71.

Zillow Group Trading Down 3.7 %

Zillow Group stock opened at $64.08 on Tuesday. The stock has a 50 day moving average of $75.93 and a two-hundred day moving average of $73.44. Zillow Group, Inc. has a twelve month low of $38.45 and a twelve month high of $89.39. The stock has a market capitalization of $15.54 billion, a price-to-earnings ratio of -136.34, a PEG ratio of 9.24 and a beta of 2.19.

Zillow Group (NASDAQ:Z) last issued its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. Equities analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

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.