Zillow Group, Inc. (NASDAQ:Z) Stake Reduced by Swiss National Bank

Swiss National Bank trimmed its stake in Zillow Group, Inc. (NASDAQ:Z) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 434,134 shares of the financial services provider’s stock after selling 32,700 shares during the quarter. Swiss National Bank’s holdings in Zillow Group were worth $32,148,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in Z. Charles Schwab Investment Management Inc. grew its holdings in Zillow Group by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,538,709 shares of the financial services provider’s stock worth $113,941,000 after buying an additional 11,727 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Zillow Group in the fourth quarter worth $7,375,000. IVY Lane Capital Management LLC increased its holdings in shares of Zillow Group by 35.0% during the third quarter. IVY Lane Capital Management LLC now owns 135,000 shares of the financial services provider’s stock valued at $8,620,000 after purchasing an additional 35,000 shares during the period. Donoghue Forlines LLC acquired a new stake in Zillow Group in the fourth quarter worth about $1,932,000. Finally, Thrivent Financial for Lutherans bought a new position in Zillow Group in the 3rd quarter valued at about $6,267,000. 71.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Z has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Zillow Group in a research note on Wednesday, February 12th. KeyCorp upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Baird R W upgraded Zillow Group to a “hold” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their target price on Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Morgan Stanley boosted their price target on shares of Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Insider Activity

In other Zillow Group news, COO Jun Choo sold 55,000 shares of Zillow Group stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the sale, the chief operating officer now directly owns 86,853 shares in the company, valued at $6,790,167.54. The trade was a 38.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 23,388 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 96,065 shares of company stock worth $7,660,165 in the last ninety days. Corporate insiders own 23.76% of the company’s stock.

Zillow Group Stock Up 0.5 %

Z opened at $70.94 on Tuesday. Zillow Group, Inc. has a 12-month low of $38.45 and a 12-month high of $89.39. The firm has a market capitalization of $17.21 billion, a P/E ratio of -150.94, a PEG ratio of 9.24 and a beta of 2.27. The stock has a fifty day moving average of $77.65 and a 200-day moving average of $72.15.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (EPS) 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%. On average, analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

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.