Erste Asset Management GmbH Cuts Holdings in Zillow Group, Inc. (NASDAQ:Z)

Erste Asset Management GmbH reduced its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 30.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,000 shares of the financial services provider's stock after selling 60,000 shares during the quarter. Erste Asset Management GmbH owned about 0.06% of Zillow Group worth $10,445,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assetmark Inc. grew its stake in shares of Zillow Group by 7,410.0% in the 4th quarter. Assetmark Inc. now owns 751 shares of the financial services provider's stock valued at $56,000 after buying an additional 741 shares in the last quarter. Blue Trust Inc. lifted its holdings in Zillow Group by 17.5% in the 4th quarter. Blue Trust Inc. now owns 922 shares of the financial services provider's stock worth $68,000 after purchasing an additional 137 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Zillow Group during the third quarter worth approximately $74,000. Smartleaf Asset Management LLC lifted its holdings in shares of Zillow Group by 53.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider's stock worth $79,000 after buying an additional 367 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Zillow Group by 86.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,250 shares of the financial services provider's stock worth $94,000 after buying an additional 579 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

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Zillow Group Stock Down 1.9 %

NASDAQ:Z traded down $1.35 during trading hours on Tuesday, hitting $69.59. 2,346,755 shares of the company's stock traded hands, compared to its average volume of 2,859,270. The firm has a market cap of $16.88 billion, a P/E ratio of -148.06, a P/E/G ratio of 9.24 and a beta of 2.27. Zillow Group, Inc. has a 52 week low of $38.45 and a 52 week high of $89.39. The business's fifty day simple moving average is $77.65 and its two-hundred day simple moving average is $72.15.

Zillow Group (NASDAQ:Z - Get Free Report) last issued 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%. On average, analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

Z has been the subject of a number of recent research reports. KeyCorp upgraded Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Sunday, February 2nd. Deutsche Bank Aktiengesellschaft upped their price target on Zillow Group from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Morgan Stanley upped their price target on Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 12th. Finally, Baird R W raised Zillow Group to a "hold" rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $82.00.

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 23,388 shares of the company'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 transaction, the chief financial officer now owns 99,362 shares in the company, valued at approximately $8,443,782.76. This represents a 19.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jun Choo sold 55,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was 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 approximately $6,790,167.54. This represents a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,065 shares of company stock valued at $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.