KLP Kapitalforvaltning AS Makes New $3.39 Million Investment in Zillow Group, Inc. (NASDAQ:Z)

KLP Kapitalforvaltning AS purchased a new position in shares of Zillow Group, Inc. (NASDAQ:Z) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 45,768 shares of the financial services provider’s stock, valued at approximately $3,389,000.

A number of other hedge funds have also made changes to their positions in Z. Assetmark Inc. raised its holdings in Zillow Group by 7,410.0% in the 4th quarter. Assetmark Inc. now owns 751 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 741 shares during the period. Blue Trust Inc. grew its position in shares of Zillow Group by 17.5% in the fourth quarter. Blue Trust Inc. now owns 922 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 137 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Zillow Group in the third quarter worth about $74,000. Smartleaf Asset Management LLC lifted its position in shares of Zillow Group by 53.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 367 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Zillow Group by 86.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,250 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 579 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Buying and Selling at Zillow Group

In other news, CFO Jeremy Hofmann sold 23,388 shares of Zillow Group stock in a transaction 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 transaction, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at $8,443,782.76. This trade represents a 19.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Errol G. Samuelson sold 6,967 shares of Zillow Group stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $541,475.24. Following the transaction, the insider now owns 127,467 shares in the company, valued at approximately $9,906,735.24. This represents a 5.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,065 shares of company stock worth $7,660,165. Insiders own 23.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wedbush restated an “outperform” rating and issued a $100.00 price target on shares of Zillow Group in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Zillow Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Baird R W raised Zillow Group to a “hold” rating in a report on Friday, January 31st. Morgan Stanley lifted their price objective on Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, KeyCorp upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Five 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Zillow Group Stock Down 2.8 %

Shares of NASDAQ:Z opened at $71.52 on Thursday. The firm has a market cap of $17.35 billion, a P/E ratio of -152.17, a P/E/G ratio of 9.24 and a beta of 2.27. Zillow Group, Inc. has a 12 month low of $38.45 and a 12 month high of $89.39. The company’s 50-day moving average price is $77.59 and its two-hundred day moving average price is $72.88.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

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.