Norges Bank Takes Position in Zillow Group, Inc. (NASDAQ:ZG)

Norges Bank acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,333,472 shares of the technology company's stock, valued at approximately $165,326,000. Norges Bank owned approximately 1.00% of Zillow Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Zillow Group by 155.4% in the third quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company's stock valued at $2,060,000 after buying an additional 20,238 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Zillow Group by 28.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company's stock valued at $1,753,000 after purchasing an additional 5,539 shares in the last quarter. Virtu Financial LLC lifted its stake in Zillow Group by 132.1% in the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company's stock valued at $12,929,000 after buying an additional 118,830 shares during the period. Geode Capital Management LLC grew its position in shares of Zillow Group by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company's stock worth $63,523,000 after buying an additional 32,766 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Zillow Group by 136.3% in the 4th quarter. Victory Capital Management Inc. now owns 22,982 shares of the technology company's stock valued at $1,628,000 after acquiring an additional 13,255 shares in the last quarter. Institutional investors own 20.32% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have commented on the company. JMP Securities raised their price objective on Zillow Group from $82.00 to $92.00 and gave the company a "market outperform" rating in a research note on Monday, December 16th. Piper Sandler decreased their price target on shares of Zillow Group from $93.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday, February 12th. Baird R W raised shares of Zillow Group to a "hold" rating in a research note on Friday, January 31st. Benchmark lifted their price objective on shares of Zillow Group from $80.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Finally, Susquehanna upped their target price on shares of Zillow Group from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.25.

Zillow Group Trading Down 4.1 %

ZG stock traded down $2.89 during midday trading on Thursday, hitting $66.86. The company had a trading volume of 552,144 shares, compared to its average volume of 602,420. Zillow Group, Inc. has a 52 week low of $38.06 and a 52 week high of $86.58. The stock has a market cap of $16.22 billion, a price-to-earnings ratio of -142.26, a PEG ratio of 8.90 and a beta of 2.22. The stock's 50 day moving average price is $74.42 and its 200 day moving average price is $70.83.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. Analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Transactions at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 2,854 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total transaction of $209,312.36. Following the completion of the transaction, the insider now owns 142,636 shares of the company's stock, valued at approximately $10,460,924.24. This trade represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jun Choo sold 55,000 shares of Zillow Group 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 transaction, the chief operating officer now directly owns 86,853 shares of the company's stock, 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 ninety days, insiders sold 98,919 shares of company stock worth $7,869,478. Company insiders own 17.14% of the company's stock.

Zillow Group Company 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.