KLP Kapitalforvaltning AS Invests $3.39 Million in Zillow Group, Inc. (NASDAQ:Z)

KLP Kapitalforvaltning AS purchased a new stake in Zillow Group, Inc. (NASDAQ:Z) during the 4th quarter, Holdings Channel reports. The firm purchased 45,768 shares of the financial services provider’s stock, valued at approximately $3,389,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in Z. Assetmark Inc. boosted its holdings in shares of Zillow Group by 7,410.0% in the 4th quarter. Assetmark Inc. now owns 751 shares of the financial services provider’s stock valued at $56,000 after buying an additional 741 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Zillow Group by 17.5% during the 4th quarter. Blue Trust Inc. now owns 922 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 137 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Zillow Group in the 3rd quarter valued at about $74,000. Smartleaf Asset Management LLC lifted its stake in Zillow Group by 53.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 367 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Zillow Group by 86.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,250 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 579 shares during the period. 71.01% of the stock is owned by institutional investors.

Zillow Group Stock Performance

NASDAQ:Z opened at $71.52 on Thursday. The firm has a market cap of $17.35 billion, a price-to-earnings ratio of -152.17, a P/E/G ratio of 9.24 and a beta of 2.27. Zillow Group, Inc. has a 52 week low of $38.45 and a 52 week high of $89.39. The firm’s 50-day simple moving average is $77.59 and its 200 day simple moving average is $72.88.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. Sell-side analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Baird R W raised shares of Zillow Group to a “hold” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 12th. Finally, KeyCorp upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Five 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 company. According to MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Insider Buying and Selling at Zillow Group

In related news, CAO Jennifer Rock sold 5,796 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total transaction of $437,598.00. Following the sale, the chief accounting officer now owns 51,370 shares in the company, valued at approximately $3,878,435. This trade represents a 10.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeremy Hofmann sold 1,612 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total transaction of $136,987.76. Following the transaction, the chief financial officer now owns 99,362 shares of the company’s stock, valued at approximately $8,443,782.76. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,065 shares of company stock valued at $7,660,165 in the last three months. Corporate insiders own 23.76% of the company’s stock.

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.