Erste Asset Management GmbH Reduces Position in Zillow Group, Inc. (NASDAQ:Z)

Erste Asset Management GmbH lowered its position in Zillow Group, Inc. (NASDAQ:Z) by 30.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,000 shares of the financial services provider’s stock after selling 60,000 shares during the quarter. Erste Asset Management GmbH’s holdings in Zillow Group were worth $10,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of Z. Charles Schwab Investment Management Inc. grew its holdings in shares of Zillow Group by 0.8% during the fourth 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 during the last quarter. Proficio Capital Partners LLC acquired a new stake in Zillow Group during the 4th quarter worth approximately $7,375,000. IVY Lane Capital Management LLC grew its stake in shares of Zillow Group by 35.0% in the 3rd 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 last quarter. Donoghue Forlines LLC acquired a new position in shares of Zillow Group in the fourth quarter valued at approximately $1,932,000. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Zillow Group during the third quarter worth approximately $6,267,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on Z. KeyCorp upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Baird R W raised shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. Morgan Stanley raised their price objective on shares of Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 12th. Finally, Wedbush reissued an “outperform” rating and set a $100.00 target price on shares of Zillow Group in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Zillow Group Stock Performance

Shares of Z stock opened at $68.37 on Friday. The stock has a fifty day moving average price of $77.92 and a 200 day moving average price of $71.77. The stock has a market cap of $16.58 billion, a PE ratio of -145.47, a P/E/G ratio of 9.24 and a beta of 2.27. Zillow Group, Inc. has a 1 year low of $38.45 and a 1 year high of $89.39.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, equities research analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Jennifer Rock sold 5,796 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total value of $437,598.00. Following the completion of the transaction, the chief accounting officer now owns 51,370 shares of the company’s stock, valued at approximately $3,878,435. The trade was a 10.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jun Choo sold 55,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the completion of the transaction, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,065 shares of company stock worth $7,660,165. Insiders own 23.76% of the company’s stock.

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.