DNB Asset Management AS Lowers Stock Position in Zillow Group, Inc. $Z

DNB Asset Management AS lessened its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 66.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,011 shares of the financial services provider’s stock after selling 65,001 shares during the quarter. DNB Asset Management AS’s holdings in Zillow Group were worth $2,252,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Jain Global LLC bought a new position in shares of Zillow Group during the 3rd quarter worth approximately $6,220,000. Rakuten Investment Management Inc. bought a new position in shares of Zillow Group during the 3rd quarter worth approximately $2,919,000. Coronation Fund Managers Ltd. bought a new position in shares of Zillow Group during the 3rd quarter worth approximately $18,141,000. Y Intercept Hong Kong Ltd raised its stake in shares of Zillow Group by 63.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 85,210 shares of the financial services provider’s stock worth $6,565,000 after acquiring an additional 32,975 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Zillow Group by 0.3% during the 3rd 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. Institutional investors own 71.01% of the company’s stock.

Insider Activity

In related news, General Counsel Bradley D. Owens sold 3,364 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $37.23, for a total transaction of $125,241.72. Following the sale, the general counsel directly owned 65,245 shares of the company’s stock, valued at approximately $2,429,071.35. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Errol G. Samuelson sold 2,939 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $37.97, for a total transaction of $111,593.83. Following the sale, the insider directly owned 134,039 shares in the company, valued at $5,089,460.83. This trade represents a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 33,047 shares of company stock valued at $1,246,715 in the last three months. Corporate insiders own 25.03% of the company’s stock.

Wall Street Analyst Weigh In

Z has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Barclays upgraded shares of Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. cut their price target on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Zillow Group from $60.00 to $50.00 and set a “market perform” rating on the stock in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Zillow Group Stock Performance

Shares of NASDAQ Z opened at $36.47 on Thursday. The company’s fifty day moving average price is $42.41 and its 200 day moving average price is $56.35. Zillow Group, Inc. has a 1 year low of $34.70 and a 1 year high of $93.88. The company has a market capitalization of $8.34 billion, a PE ratio of 145.88, a price-to-earnings-growth ratio of 1.54 and a beta of 2.07.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. On average, equities analysts expect that Zillow Group, Inc. will post 0.9 EPS for the current year.

Zillow Group Company 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.