Norges Bank Buys New Stake in Zillow Group, Inc. (NASDAQ:ZG)

Norges Bank purchased a new position in shares of Zillow Group, Inc. (NASDAQ:ZG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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.

A number of other institutional investors also recently added to or reduced their stakes in ZG. Long Corridor Asset Management Ltd boosted its stake in shares of Zillow Group by 5.6% in the 4th quarter. Long Corridor Asset Management Ltd now owns 59,395 shares of the technology company’s stock valued at $4,208,000 after purchasing an additional 3,146 shares in the last quarter. Virtu Financial LLC boosted its position in Zillow Group by 101.3% in the fourth 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 in the last quarter. Summit Global Investments bought a new stake in Zillow Group during the fourth quarter worth about $364,000. Royal London Asset Management Ltd. grew its stake in Zillow Group by 20.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 15,270 shares of the technology company’s stock worth $1,082,000 after buying an additional 2,633 shares during the last quarter. Finally, Cibc World Markets Corp raised its stake in shares of Zillow Group by 10.2% in the fourth quarter. Cibc World Markets Corp now owns 15,810 shares of the technology company’s stock valued at $1,120,000 after acquiring an additional 1,467 shares during the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Price Performance

Zillow Group stock opened at $66.86 on Tuesday. Zillow Group, Inc. has a fifty-two week low of $38.06 and a fifty-two week high of $86.58. The firm has a market capitalization of $16.22 billion, a price-to-earnings ratio of -142.26, a PEG ratio of 8.90 and a beta of 2.33. The company’s 50 day simple moving average is $74.68 and its 200 day simple moving average is $70.77.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Robert W. Baird started coverage on Zillow Group in a report on Friday, January 31st. They set a “neutral” rating and a $88.00 price target for the company. Benchmark lifted their price target on Zillow Group from $80.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Canaccord Genuity Group increased their price objective on shares of Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, December 2nd. UBS Group upped their target price on shares of Zillow Group from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, KeyCorp decreased their price target on shares of Zillow Group from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.25.

Insider Buying and Selling at Zillow Group

In related news, insider Errol G. Samuelson sold 2,854 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the sale, the insider now directly owns 142,636 shares of the company’s stock, valued at approximately $10,460,924.24. The trade was a 1.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the sale, the chief financial officer now directly owns 99,362 shares in the company, valued at $8,443,782.76. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,919 shares of company stock valued at $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.