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

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

Several other large investors also recently made changes to their positions in the business. Virtu Financial LLC raised its holdings in shares of Zillow Group by 101.3% during the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock valued at $29,775,000 after buying an additional 211,482 shares during the period. Raymond James Financial Inc. acquired a new stake in Zillow Group in the fourth quarter valued at approximately $14,916,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Zillow Group during the third quarter valued at approximately $9,813,000. Bank of Montreal Can lifted its position in shares of Zillow Group by 85.1% during the third quarter. Bank of Montreal Can now owns 140,252 shares of the technology company's stock worth $8,903,000 after purchasing an additional 64,473 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd boosted its stake in shares of Zillow Group by 47.4% in the fourth quarter. NINE MASTS CAPITAL Ltd now owns 163,658 shares of the technology company's stock valued at $11,595,000 after purchasing an additional 52,622 shares during the period. Institutional investors and hedge funds own 20.32% of the company's stock.

Insiders Place Their Bets

In related news, insider Errol G. Samuelson sold 2,854 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the completion of the sale, the insider now owns 142,636 shares of the company's stock, valued at $10,460,924.24. This represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 1,612 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total transaction of $136,987.76. Following the transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,919 shares of company stock worth $7,869,478. Insiders own 17.14% of the company's stock.

Zillow Group Price Performance

NASDAQ:ZG traded down $1.54 during midday trading on Friday, reaching $65.32. 1,047,417 shares of the company traded hands, compared to its average volume of 572,840. The firm has a market capitalization of $15.84 billion, a price-to-earnings ratio of -138.98, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22. The company has a fifty day moving average price of $73.99 and a 200 day moving average price of $70.91. Zillow Group, Inc. has a twelve month low of $38.06 and a twelve month high of $86.58.

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 (EPS) 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%. On average, equities research analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Baird R W upgraded shares of Zillow Group to a "hold" rating in a report on Friday, January 31st. Susquehanna raised their price objective on Zillow Group from $75.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Evercore ISI upped their target price on Zillow Group from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods upgraded Zillow Group to a "hold" rating in a research note on Friday, March 28th. Finally, Benchmark lifted their price target on shares of Zillow Group from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $82.25.

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.