Zillow Group, Inc. (NASDAQ:Z) Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS grew its position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 42.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,968 shares of the financial services provider's stock after acquiring an additional 19,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Zillow Group were worth $4,454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in Z. Choreo LLC purchased a new stake in shares of Zillow Group in the first quarter worth about $208,000. Flynn Zito Capital Management LLC boosted its stake in shares of Zillow Group by 4.5% during 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 buying an additional 166 shares during the last quarter. Carmel Capital Partners LLC boosted its stake in shares of Zillow Group by 2.3% during the 1st quarter. Carmel Capital Partners LLC now owns 20,075 shares of the financial services provider's stock valued at $1,376,000 after buying an additional 459 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Zillow Group by 288.9% during the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after buying an additional 338 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Zillow Group by 128.8% during the 1st quarter. AustralianSuper Pty Ltd now owns 146,260 shares of the financial services provider's stock valued at $10,028,000 after buying an additional 82,333 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $81.16 on Friday. The company's 50 day simple moving average is $71.56 and its 200 day simple moving average is $72.21. The stock has a market capitalization of $19.60 billion, a price-to-earnings ratio of -238.71, a price-to-earnings-growth ratio of 14.85 and a beta of 2.11. Zillow Group, Inc. has a 1 year low of $41.67 and a 1 year high of $89.39.

Wall Street Analysts Forecast Growth

Z has been the topic of a number of research reports. Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a research report on Monday, April 28th. Wedbush restated an "outperform" rating and issued a $100.00 target price on shares of Zillow Group in a research report on Monday, May 5th. William Blair began coverage on Zillow Group in a research report on Monday, April 21st. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods lowered their price target on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.71.

Insider Activity

In other news, CFO Jeremy Hofmann sold 7,959 shares of Zillow Group stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $549,011.82. Following the transaction, the chief financial officer owned 97,481 shares in the company, valued at approximately $6,724,239.38. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dan Spaulding sold 5,534 shares of Zillow Group stock in a transaction on Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $381,735.32. Following the transaction, the insider owned 68,889 shares in the company, valued at approximately $4,751,963.22. This trade represents a 7.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,093 shares of company stock valued at $6,989,688. 25.03% of the stock is currently owned by insiders.

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.

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