Zillow Group, Inc. $Z Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH cut its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 18.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 310,000 shares of the financial services provider’s stock after selling 70,000 shares during the period. Erste Asset Management GmbH’s holdings in Zillow Group were worth $21,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Jain Global LLC purchased a new position in Zillow Group in the third quarter worth $6,220,000. Coronation Fund Managers Ltd. purchased a new position in Zillow Group in the third quarter worth $18,141,000. Vanguard Group Inc. raised its position in Zillow Group by 0.3% in the third quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock worth $1,777,841,000 after acquiring an additional 71,336 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Zillow Group by 228.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 470,288 shares of the financial services provider’s stock worth $32,083,000 after acquiring an additional 327,076 shares in the last quarter. Finally, Hidden Lake Asset Management LP purchased a new position in Zillow Group in the third quarter worth $4,127,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on Z. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Keefe, Bruyette & Woods dropped their price target on Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a research report on Thursday, May 7th. Zelman & Associates upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft dropped their price objective on Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, UBS Group dropped their price objective on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Insiders Place Their Bets

In other news, insider Errol G. Samuelson sold 2,939 shares of Zillow Group stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $37.97, for a total value of $111,593.83. Following the transaction, the insider directly owned 134,039 shares of the company’s stock, valued at $5,089,460.83. The trade was a 2.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,072 shares of Zillow Group stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the transaction, the chief executive officer directly owned 153,699 shares in the company, valued at $5,616,161.46. This represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 42,119 shares of company stock worth $1,578,206. 23.76% of the stock is owned by insiders.

Zillow Group Trading Down 0.8%

Shares of NASDAQ:Z opened at $34.79 on Tuesday. The stock’s 50-day moving average price is $40.28 and its two-hundred day moving average price is $53.05. Zillow Group, Inc. has a 12-month low of $34.16 and a 12-month high of $93.88. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 139.16, a PEG ratio of 1.50 and a beta of 1.97.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. As a group, research analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Zillow Group Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.