Tredje AP fonden Purchases 14,191 Shares of Zillow Group, Inc. (NASDAQ:Z)

Key Points

• Tredje AP fonden increased its holdings in Zillow Group, Inc. by 12.7% during the first quarter, owning 126,332 shares valued at approximately $8.66 million.
• Wall Street analysts have mixed ratings on Zillow, with a consensus rating of "Moderate Buy" and a price target of $83.71, while JPMorgan Chase downgraded their price objective to $79.
• Insider trading activity included significant sales, with Director Gordon Sheridan Stephenson selling 10,000 shares worth about $706,900, indicating a potential decrease in insider confidence.

Tredje AP fonden grew its position in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 12.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,332 shares of the financial services provider's stock after acquiring an additional 14,191 shares during the period. Tredje AP fonden owned 0.05% of Zillow Group worth $8,661,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. 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 worth $31,000 after purchasing an additional 338 shares during the last quarter. GAMMA Investing LLC raised its position in Zillow Group by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock worth $42,000 after purchasing an additional 196 shares during the last quarter. National Bank of Canada FI bought a new position in Zillow Group in the 4th quarter worth approximately $55,000. Natixis bought a new position in Zillow Group in the 4th quarter worth approximately $80,000. Finally, Parallel Advisors LLC raised its position in Zillow Group by 141.8% in the 1st quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock worth $115,000 after purchasing an additional 984 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Insider Transactions at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 6,962 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $68.63, for a total value of $477,802.06. Following the transaction, the insider directly owned 135,674 shares of the company's stock, valued at $9,311,306.62. This represents a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Hofmann sold 7,959 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $549,011.82. Following the completion of the transaction, the chief financial officer directly owned 97,481 shares in the company, valued at approximately $6,724,239.38. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,093 shares of company stock worth $6,989,688. 25.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Keefe, Bruyette & Woods dropped their target price 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. Wells Fargo & Company upgraded shares of Zillow Group to a "hold" rating in a research report on Monday, April 28th. Wedbush reiterated an "outperform" rating and set a $100.00 target price on shares of Zillow Group in a research report on Monday, May 5th. JPMorgan Chase & Co. dropped their target price on shares of Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, William Blair started coverage on shares of Zillow Group in a research report on Monday, April 21st. They set a "market perform" rating for the company. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.71.

Zillow Group Stock Performance

NASDAQ:Z traded up $0.65 during mid-day trading on Friday, hitting $80.20. The stock had a trading volume of 2,186,874 shares, compared to its average volume of 2,267,840. Zillow Group, Inc. has a twelve month low of $41.67 and a twelve month high of $89.39. The stock has a market cap of $19.36 billion, a price-to-earnings ratio of -235.88, a PEG ratio of 14.69 and a beta of 2.09. The company's 50 day simple moving average is $72.94 and its 200 day simple moving average is $72.52.

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.