Pictet Asset Management Holding SA Raises Stake in Zillow Group, Inc. (NASDAQ:Z)

Pictet Asset Management Holding SA grew its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,683 shares of the financial services provider’s stock after acquiring an additional 638 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Zillow Group were worth $4,345,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of Z. Groupama Asset Managment purchased a new position in shares of Zillow Group during the 3rd quarter valued at about $83,005,000. Mackay Shields LLC purchased a new position in Zillow Group in the fourth quarter worth about $17,496,000. Norges Bank bought a new position in shares of Zillow Group during the 4th quarter valued at approximately $15,923,000. Hillman Co. raised its stake in shares of Zillow Group by 88.1% in the fourth quarter. Hillman Co. now owns 348,301 shares of the financial services provider’s stock valued at $25,792,000 after acquiring an additional 163,105 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Zillow Group by 267.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,480 shares of the financial services provider’s stock valued at $14,846,000 after buying an additional 145,889 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on Z. Keefe, Bruyette & Woods initiated coverage on Zillow Group in a research note on Friday, March 28th. They issued a “market perform” rating and a $80.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Zillow Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on shares of Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, KeyCorp upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.71.

Zillow Group Trading Down 2.9 %

NASDAQ Z opened at $66.54 on Friday. Zillow Group, Inc. has a twelve month low of $38.45 and a twelve month high of $89.39. The stock has a 50-day moving average of $76.28 and a 200 day moving average of $73.33. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of -141.57, a PEG ratio of 9.24 and a beta of 2.19.

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

Insider Buying and Selling at Zillow Group

In related news, CAO Jennifer Rock sold 5,796 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total value of $437,598.00. Following the completion of the sale, the chief accounting officer now owns 51,370 shares of the company’s stock, valued at approximately $3,878,435. This trade represents a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Errol G. Samuelson sold 6,967 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $541,475.24. Following the completion of the sale, the insider now owns 127,467 shares of the company’s stock, valued at approximately $9,906,735.24. The trade was a 5.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,919 shares of company stock worth $7,869,478. Corporate insiders own 23.76% of the company’s stock.

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.