Zillow Group, Inc. $Z Holdings Raised by Forsta AP Fonden

Key Points

• Forsta AP Fonden increased its Zillow Group stake by 212.7% in Q4, ending with 111,000 shares worth about $7.57 million. Several other institutional investors also boosted or initiated positions, and institutions now own 71.01% of the stock.
• Zillow reported better-than-expected quarterly results, with EPS of $0.53 versus the $0.43 estimate and revenue of $708 million, slightly above forecasts. Analysts currently have a Moderate Buy consensus with a $77 average price target, though some firms recently lowered their targets.
• Shares were trading around $36.25, near the lower end of their 52-week range, while insiders recently sold stock under pre-arranged plans. CEO Jeremy Wacksman and insider Dan Spaulding both reduced holdings, and insiders have sold 42,119 shares over the last 90 days.

Forsta AP Fonden grew its position in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 212.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,000 shares of the financial services provider's stock after acquiring an additional 75,500 shares during the quarter. Forsta AP Fonden's holdings in Zillow Group were worth $7,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in Z. Jain Global LLC bought a new position in Zillow Group during the 3rd quarter worth $6,220,000. Coronation Fund Managers Ltd. bought a new position in Zillow Group during the 3rd quarter worth $18,141,000. Vanguard Group Inc. grew its stake in Zillow Group by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider's stock worth $1,777,841,000 after buying an additional 71,336 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Zillow Group by 228.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 470,288 shares of the financial services provider's stock worth $32,083,000 after buying an additional 327,076 shares during the last quarter. Finally, Hidden Lake Asset Management LP bought a new position in Zillow Group during the 3rd quarter worth $4,127,000. 71.01% of the stock is currently owned by institutional investors.

Zillow Group Trading Up 3.6%

NASDAQ:Z opened at $36.25 on Tuesday. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 145.00, a PEG ratio of 1.50 and a beta of 2.07. Zillow Group, Inc. has a 1-year low of $34.64 and a 1-year high of $93.88. The business's fifty day moving average price is $41.12 and its 200 day moving average price is $54.24.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. Equities analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on Z. Zacks Research upgraded Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Wall Street Zen raised Zillow Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Zelman & Associates raised Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. Keefe, Bruyette & Woods decreased their price target on Zillow Group from $60.00 to $50.00 and set a "market perform" rating for the company in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Zillow Group from $80.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $77.00.

Insider Activity

In related news, insider Dan Spaulding sold 3,078 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20. Following the transaction, the insider directly owned 49,696 shares of the company's stock, valued at approximately $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,072 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the transaction, the chief executive officer directly owned 153,699 shares in the company, valued at approximately $5,616,161.46. The trade was a 5.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,119 shares of company stock valued at $1,578,206 in the last ninety days. Corporate insiders own 25.03% of the company's stock.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company's platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company's automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.

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