Erste Asset Management GmbH Has $18.85 Million Stock Holdings in Zillow Group, Inc. $Z

Key Points

• Erste Asset Management GmbH increased its stock holdings in Zillow Group, Inc. by 96.4%, owning 275,000 shares worth approximately $18.85 million as of the latest quarter.
• Insider selling activity was reported, with Dan Spaulding and CFO Jeremy Hofmann both reducing their positions by 8.70% and 8.85% respectively, totaling over $1.18 million in shares sold.
• Zillow Group shares opened at $83.50 with an average consensus price target of $88.29 from analysts, who currently rate the stock predominantly as a "Hold".

Erste Asset Management GmbH boosted its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 96.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,000 shares of the financial services provider's stock after acquiring an additional 135,000 shares during the quarter. Erste Asset Management GmbH owned 0.11% of Zillow Group worth $18,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in shares of Zillow Group by 2.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 56,318 shares of the financial services provider's stock worth $4,170,000 after acquiring an additional 1,243 shares during the last quarter. Mariner LLC increased its position in Zillow Group by 19.9% during the 4th quarter. Mariner LLC now owns 17,475 shares of the financial services provider's stock valued at $1,294,000 after purchasing an additional 2,897 shares during the period. Dimensional Fund Advisors LP raised its holdings in Zillow Group by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,540,831 shares of the financial services provider's stock worth $114,109,000 after purchasing an additional 65,724 shares during the last quarter. First Trust Advisors LP bought a new position in Zillow Group during the 4th quarter worth approximately $442,000. Finally, Natixis acquired a new position in shares of Zillow Group in the 4th quarter worth approximately $80,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 5,680 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $85.22, for a total transaction of $484,049.60. Following the sale, the insider owned 59,616 shares of the company's stock, valued at $5,080,475.52. The trade was a 8.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeremy Hofmann sold 8,168 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.35, for a total value of $697,138.80. Following the sale, the chief financial officer owned 84,146 shares in the company, valued at approximately $7,181,861.10. This represents a 8.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 580,379 shares of company stock worth $49,319,729 in the last ninety days. Insiders own 23.76% of the company's stock.

Zillow Group Stock Down 1.2%

Shares of NASDAQ:Z opened at $83.50 on Wednesday. The firm has a market capitalization of $20.23 billion, a PE ratio of -321.15, a P/E/G ratio of 15.91 and a beta of 2.09. Zillow Group, Inc. has a twelve month low of $52.86 and a twelve month high of $89.39. The company has a 50-day moving average price of $76.49 and a two-hundred day moving average price of $72.75.

Analyst Ratings Changes

Several research firms have recently weighed in on Z. Wedbush reiterated an "outperform" rating and set a $100.00 price objective on shares of Zillow Group in a research report on Monday, May 5th. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped their price objective on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. upped their target price on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Bank of America raised their target price on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $88.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.