Swedbank AB Sells 12,076 Shares of Zillow Group, Inc. $Z

Key Points

• Swedbank AB reduced its stake in Zillow Group, Inc. by 9.2%, holding 119,529 shares valued at approximately $8.37 million after a sale of 12,076 shares in the second quarter.
• Several institutional investors increased their holdings in Zillow Group, including IFP Advisors Inc and National Pension Service, which grew their positions significantly by 288.9% and 74.8% respectively in the first quarter.
• Analysts have raised price targets for Zillow Group, with Bank of America setting a new target of $88 and JPMorgan Chase stating $94, indicating strong market sentiment towards the stock.

Swedbank AB lowered its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 9.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,529 shares of the financial services provider's stock after selling 12,076 shares during the quarter. Swedbank AB's holdings in Zillow Group were worth $8,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirador Capital Partners LP boosted its holdings in shares of Zillow Group by 9.4% during the 2nd quarter. Mirador Capital Partners LP now owns 74,364 shares of the financial services provider's stock valued at $5,209,000 after purchasing an additional 6,414 shares during the last quarter. Doliver Advisors LP increased its stake in Zillow Group by 11.7% in the second quarter. Doliver Advisors LP now owns 9,904 shares of the financial services provider's stock worth $694,000 after purchasing an additional 1,034 shares during the period. Strs Ohio bought a new stake in Zillow Group during the 1st quarter valued at about $828,000. Belpointe Asset Management LLC bought a new position in Zillow Group in the first quarter worth approximately $691,000. Finally, Fortis Capital Advisors LLC purchased a new position in shares of Zillow Group during the first quarter valued at $691,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on Z. Bank of America increased their target price on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Sanford C. Bernstein upgraded Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price target for the company in a research report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. boosted their price objective on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, Zillow Group has a consensus rating of "Moderate Buy" and a consensus target price of $90.38.

Zillow Group Stock Performance

Z stock traded down $5.70 during trading on Monday, hitting $81.04. The company had a trading volume of 5,490,677 shares, compared to its average volume of 2,523,384. The firm has a 50-day moving average price of $83.40 and a 200-day moving average price of $73.75. Zillow Group, Inc. has a 12 month low of $57.00 and a 12 month high of $93.88.

Insider Transactions at Zillow Group

In other Zillow Group news, Chairman Richard N. Barton sold 200,000 shares of Zillow Group stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $84.92, for a total value of $16,984,000.00. Following the transaction, the chairman owned 843,248 shares of the company's stock, valued at approximately $71,608,620.16. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dan Spaulding sold 100,000 shares of the business's 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 directly owned 68,889 shares in the company, valued at approximately $5,918,253.99. This represents a 59.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 657,087 shares of company stock valued at $56,286,479. Insiders own 23.76% 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.