Zillow Group, Inc. $Z Shares Sold by Swedbank AB

Key Points

• Swedbank AB reduced its holdings in Zillow Group, Inc. by 16.0%, ending the quarter with 131,605 shares valued at approximately $9 million.
• Insider trading reports indicate that Zillow Group's CTO and a director have both sold shares, contributing to a total of 657,087 shares sold by insiders in the last quarter.
• JPMorgan Chase & Co. and Bank of America have recently increased their price targets for Zillow Group, indicating a positive outlook, with the current consensus rating being "Moderate Buy."

Swedbank AB reduced its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 16.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,605 shares of the financial services provider's stock after selling 25,000 shares during the quarter. Swedbank AB owned approximately 0.05% of Zillow Group worth $9,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in Zillow Group in the 1st quarter worth about $828,000. Belpointe Asset Management LLC acquired a new stake in shares of Zillow Group in the first quarter worth approximately $691,000. Fortis Capital Advisors LLC acquired a new stake in shares of Zillow Group in the first quarter worth approximately $691,000. Intech Investment Management LLC grew its holdings in Zillow Group by 21.7% in the first quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider's stock valued at $1,407,000 after purchasing an additional 3,653 shares during the period. Finally, SCS Capital Management LLC acquired a new position in Zillow Group during the first quarter worth approximately $440,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zillow Group

In related news, CTO David A. Beitel sold 22,510 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $90.97, for a total transaction of $2,047,734.70. Following the completion of the sale, the chief technology officer directly owned 144,549 shares in the company, valued at approximately $13,149,622.53. This trade represents a 13.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Erik C. Blachford sold 966 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $81.91, for a total value of $79,125.06. Following the completion of the transaction, the director directly owned 34,508 shares in the company, valued at $2,826,550.28. This represents a 2.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 657,087 shares of company stock valued at $56,286,479. Corporate insiders own 23.76% of the company's stock.

Zillow Group Trading Down 0.8%

Shares of NASDAQ Z opened at $87.12 on Tuesday. Zillow Group, Inc. has a twelve month low of $57.00 and a twelve month high of $91.93. The firm has a 50-day moving average of $82.34 and a two-hundred day moving average of $73.32. The company has a market capitalization of $21.11 billion, a price-to-earnings ratio of -335.08, a PEG ratio of 24.44 and a beta of 2.04.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on Z. JPMorgan Chase & Co. increased their price target 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. Bank of America increased their target price on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.29.

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.

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