Forsta AP Fonden Has $4.73 Million Stake in Zillow Group, Inc. (NASDAQ:Z)

Key Points

• Forsta AP Fonden increased its stake in Zillow Group, Inc. by 102.3%, acquiring an additional 34,900 shares, bringing its total ownership to 69,000 shares valued at $4,731,000.
• Zillow Group's stock price has seen a significant decline of 4.4% recently, with shares trading at $80.92 following a 52-week range between $49.63 and $89.39.
• Recent insider trading activity includes CEO Jeremy Wacksman selling 10,984 shares for approximately $757,676, leading to a 6.02% decrease in his ownership of the company.

Forsta AP Fonden increased its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 102.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,000 shares of the financial services provider's stock after acquiring an additional 34,900 shares during the period. Forsta AP Fonden's holdings in Zillow Group were worth $4,731,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. DoubleLine ETF Adviser LP grew its holdings in shares of Zillow Group by 1.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 10,868 shares of the financial services provider's stock worth $805,000 after buying an additional 163 shares during the last quarter. Flynn Zito Capital Management LLC boosted its holdings in Zillow Group by 4.5% in the 1st quarter. Flynn Zito Capital Management LLC now owns 3,856 shares of the financial services provider's stock valued at $264,000 after purchasing an additional 166 shares in the last quarter. True Vision MN LLC boosted its holdings in Zillow Group by 2.4% in the 1st quarter. True Vision MN LLC now owns 7,599 shares of the financial services provider's stock valued at $521,000 after purchasing an additional 176 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Zillow Group by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 196 shares in the last quarter. Finally, Keel Point LLC boosted its holdings in Zillow Group by 1.7% in the 4th quarter. Keel Point LLC now owns 13,760 shares of the financial services provider's stock valued at $1,019,000 after purchasing an additional 234 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on Z. Keefe, Bruyette & Woods reduced their price target on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Wedbush reissued an "outperform" rating and set a $100.00 price objective on shares of Zillow Group in a research note on Monday, May 5th. Bank of America boosted their price objective on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Zelman & Associates reaffirmed a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. Finally, William Blair initiated coverage on shares of Zillow Group in a report on Monday, April 21st. They issued a "market perform" rating on the stock. Nine analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $88.29.

Zillow Group Stock Up 5.8%

Shares of Z stock traded up $4.67 during trading on Wednesday, reaching $84.84. The company's stock had a trading volume of 4,995,004 shares, compared to its average volume of 2,673,588. The business has a fifty day moving average price of $75.36 and a 200-day moving average price of $72.77. The company has a market cap of $20.48 billion, a price-to-earnings ratio of -326.31, a price-to-earnings-growth ratio of 12.90 and a beta of 2.09. Zillow Group, Inc. has a one year low of $51.94 and a one year high of $89.39.

Insider Transactions at Zillow Group

In related news, insider Dan Spaulding sold 100,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the transaction, the insider directly owned 68,889 shares of the company's stock, valued at approximately $5,918,253.99. This trade represents a 59.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Wacksman sold 10,984 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $757,676.32. Following the sale, the chief executive officer owned 171,517 shares in the company, valued at $11,831,242.66. The trade was a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,466 shares of company stock valued at $15,538,533. Corporate insiders own 23.76% of the company's stock.

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.