Avanza Fonder AB Buys New Shares in Zillow Group, Inc. (NASDAQ:Z)

Avanza Fonder AB bought a new position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,199 shares of the financial services provider's stock, valued at approximately $681,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in Zillow Group by 179.5% during the 3rd quarter. FMR LLC now owns 5,095,336 shares of the financial services provider's stock worth $325,337,000 after purchasing an additional 3,272,118 shares in the last quarter. Groupama Asset Managment acquired a new stake in shares of Zillow Group during the 3rd quarter worth about $83,005,000. Dorsal Capital Management LP grew its holdings in shares of Zillow Group by 59.8% during the second quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider's stock worth $143,809,000 after buying an additional 1,160,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Zillow Group in the third quarter valued at approximately $38,310,000. Finally, Bridgewater Associates LP boosted its position 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 worth $33,443,000 after acquiring an additional 424,615 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Activity

In related news, insider Dan Spaulding sold 4,565 shares of Zillow Group stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $86.22, for a total transaction of $393,594.30. Following the sale, the insider now directly owns 58,217 shares in the company, valued at $5,019,469.74. The trade was a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Bradley D. Owens sold 1,212 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total transaction of $89,663.76. Following the completion of the transaction, the general counsel now owns 31,739 shares of the company's stock, valued at $2,348,051.22. This represents a 3.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,689 shares of company stock valued at $10,395,879. 23.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on Z shares. Bank of America increased their price target on shares of Zillow Group from $54.00 to $71.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Morgan Stanley increased their target price on Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a research report on Thursday, November 7th. Finally, Jefferies Financial Group upped their price target on Zillow Group from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $72.83.

Zillow Group Stock Performance

Shares of NASDAQ:Z traded up $1.34 during trading on Monday, reaching $77.86. 2,853,851 shares of the company's stock traded hands, compared to its average volume of 1,948,453. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. The company has a 50 day moving average of $77.75 and a 200-day moving average of $64.05. Zillow Group, Inc. has a 12 month low of $38.45 and a 12 month high of $86.88. The stock has a market capitalization of $18.18 billion, a P/E ratio of -136.60, a price-to-earnings-growth ratio of 13.43 and a beta of 2.02.

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.