Swiss National Bank Lowers Stake in Zillow Group, Inc. (NASDAQ:Z)

Swiss National Bank lessened its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 434,134 shares of the financial services provider's stock after selling 32,700 shares during the period. Swiss National Bank owned about 0.19% of Zillow Group worth $32,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of Z. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Zillow Group by 267.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,480 shares of the financial services provider's stock valued at $14,846,000 after purchasing an additional 145,889 shares during the period. Avantax Advisory Services Inc. acquired a new stake in Zillow Group in the 4th quarter worth about $206,000. HighTower Advisors LLC increased its stake in Zillow Group by 35.7% during the 4th quarter. HighTower Advisors LLC now owns 23,452 shares of the financial services provider's stock worth $1,737,000 after buying an additional 6,174 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of Zillow Group by 3.4% during the fourth quarter. Independent Advisor Alliance now owns 3,620 shares of the financial services provider's stock valued at $268,000 after acquiring an additional 120 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Zillow Group by 26.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,880 shares of the financial services provider's stock valued at $1,102,000 after acquiring an additional 3,144 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

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Insider Activity

In related news, CFO Jeremy Hofmann sold 23,388 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the sale, the chief financial officer now owns 99,362 shares in the company, valued at approximately $8,443,782.76. This trade represents a 19.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jun Choo sold 1,277 shares of Zillow Group stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $99,248.44. Following the completion of the sale, the chief operating officer now directly owns 86,853 shares of the company's stock, valued at $6,750,215.16. The trade was a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,065 shares of company stock worth $7,660,165 over the last ninety days. 23.76% of the stock is currently owned by insiders.

Zillow Group Price Performance

Shares of NASDAQ Z traded up $0.31 during trading on Friday, hitting $71.25. 3,971,153 shares of the company were exchanged, compared to its average volume of 3,338,928. Zillow Group, Inc. has a 1 year low of $38.45 and a 1 year high of $89.39. The company has a market cap of $17.28 billion, a price-to-earnings ratio of -151.60, a PEG ratio of 9.24 and a beta of 2.27. The firm's fifty day moving average price is $77.57 and its 200 day moving average price is $72.23.

Zillow Group (NASDAQ:Z - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider 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%. On average, research analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. KeyCorp raised shares of Zillow Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, February 2nd. Wedbush reissued an "outperform" rating and set a $100.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. Morgan Stanley upped their target price on shares of Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Needham & Company LLC restated a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 12th. Finally, Baird R W raised shares of 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Zillow Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

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.