Erste Asset Management GmbH Makes New Investment in Zillow Group, Inc. (NASDAQ:Z)

Erste Asset Management GmbH bought a new position in shares of Zillow Group, Inc. (NASDAQ:Z) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 200,000 shares of the financial services provider’s stock, valued at approximately $13,096,000. Erste Asset Management GmbH owned 0.09% of Zillow Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of Z. Northwest & Ethical Investments L.P. purchased a new stake in Zillow Group in the third quarter worth about $128,000. Public Sector Pension Investment Board lifted its position in shares of Zillow Group by 30.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 20,508 shares of the financial services provider’s stock worth $1,309,000 after purchasing an additional 4,730 shares during the period. FORA Capital LLC bought a new position in shares of Zillow Group during the third quarter valued at approximately $272,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Zillow Group during the third quarter valued at approximately $38,310,000. Finally, Bridgewater Associates LP increased its holdings in Zillow Group by 428.2% during the third quarter. Bridgewater Associates LP now owns 523,772 shares of the financial services provider’s stock valued at $33,443,000 after buying an additional 424,615 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on Z. Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Bank of America increased their target price on shares of Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Jefferies Financial Group increased their price objective on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

Insider Activity at Zillow Group

In other news, General Counsel Bradley D. Owens sold 1,212 shares of Zillow Group stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total value of $89,663.76. Following the sale, the general counsel now directly owns 31,739 shares of the company’s stock, valued at $2,348,051.22. The trade was a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Erik C. Blachford sold 1,413 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $54.87, for a total value of $77,531.31. Following the sale, the director now owns 35,403 shares of the company’s stock, valued at $1,942,562.61. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,439 shares of company stock worth $11,576,823 in the last 90 days. Corporate insiders own 23.76% of the company’s stock.

Zillow Group Stock Performance

Zillow Group stock opened at $84.71 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. The stock’s 50 day simple moving average is $67.80 and its two-hundred day simple moving average is $55.88. Zillow Group, Inc. has a 12 month low of $38.45 and a 12 month high of $86.88.

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.