Swiss National Bank Has $30.90 Million Holdings in Zillow Group, Inc. (NASDAQ:Z)

Key Points

• The Swiss National Bank increased its stake in Zillow Group by 3.8%, now owning 450,734 shares valued at approximately $30.90 million.
• A significant number of institutional investors, including DoubleLine ETF Adviser and GAMMA Investing, have adjusted their positions in Zillow Group, reflecting growing confidence with 71.01% of the stock owned by institutions.
• Analysts are optimistic about Zillow Group's stock, with price targets from $88.29 to $100.00 and several firms reaffirming positive ratings amid recent insider sales.

Swiss National Bank raised its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 3.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 450,734 shares of the financial services provider's stock after acquiring an additional 16,600 shares during the quarter. Swiss National Bank owned approximately 0.19% of Zillow Group worth $30,902,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in Z. IFP Advisors Inc raised its position in Zillow Group by 288.9% in the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 338 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Zillow Group by 47.7% in the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after buying an additional 196 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Zillow Group in the first quarter valued at about $49,000. Natixis bought a new position in shares of Zillow Group in the fourth quarter valued at about $80,000. Finally, Parallel Advisors LLC raised its holdings in shares of Zillow Group by 141.8% in the first quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock valued at $115,000 after buying an additional 984 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Zillow Group Price Performance

Shares of Z stock traded up $4.67 during trading hours on Wednesday, reaching $84.84. The company had a trading volume of 4,995,004 shares, compared to its average volume of 2,668,503. The company has a 50 day moving average of $75.36 and a 200 day moving average of $72.77. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of -326.31, a P/E/G ratio of 13.02 and a beta of 2.09. Zillow Group, Inc. has a 1-year low of $51.94 and a 1-year high of $89.39.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on Z shares. Wells Fargo & Company raised shares of Zillow Group to a "hold" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. boosted their target price on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Zelman & Associates restated a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. William Blair assumed coverage on shares of Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating for the company. Finally, Wedbush restated an "outperform" rating and set a $100.00 target price on shares of Zillow Group in a research report on Monday, May 5th. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zillow Group presently has an average rating of "Hold" and an average price target of $88.29.

Insider Transactions at Zillow Group

In related news, Director Thielke Claire Cormier sold 8,247 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $79.86, for a total value of $658,605.42. Following the sale, the director directly owned 725 shares in the company, valued at $57,898.50. This trade represents a 91.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dan Spaulding sold 100,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the completion of the sale, the insider owned 68,889 shares in the company, valued at approximately $5,918,253.99. This trade represents a 59.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,713 shares of company stock valued at $16,197,138. Corporate insiders own 25.03% of the company's stock.

Zillow Group 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.