Swedbank AB Sells 110,000 Shares of Zillow Group, Inc. $Z

Swedbank AB lessened its holdings in Zillow Group, Inc. (NASDAQ:Z) by 92.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,529 shares of the financial services provider’s stock after selling 110,000 shares during the quarter. Swedbank AB’s holdings in Zillow Group were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of Z. Empowered Funds LLC grew its stake in Zillow Group by 4.7% in the 1st quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 171 shares during the period. Intech Investment Management LLC grew its stake in Zillow Group by 21.7% in the 1st 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. American Century Companies Inc. grew its stake in Zillow Group by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 23,064 shares of the financial services provider’s stock valued at $1,616,000 after purchasing an additional 362 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Zillow Group by 186.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,092 shares during the period. Finally, First Trust Advisors LP grew its stake in Zillow Group by 1,895.4% in the 2nd quarter. First Trust Advisors LP now owns 128,362 shares of the financial services provider’s stock valued at $8,992,000 after purchasing an additional 121,929 shares during the period. Institutional investors own 71.01% of the company’s stock.

Insider Activity at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $37.97, for a total value of $111,593.83. Following the completion of the transaction, the insider owned 134,039 shares in the company, valued at $5,089,460.83. This trade represents a 2.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,501 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $205,737.40. Following the completion of the transaction, the chief financial officer owned 68,315 shares of the company’s stock, valued at approximately $2,554,981. This represents a 7.45% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 42,119 shares of company stock worth $1,578,206 in the last three months. Corporate insiders own 25.03% of the company’s stock.

Zillow Group Stock Performance

Z stock opened at $36.05 on Thursday. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 144.20, a PEG ratio of 1.53 and a beta of 2.07. Zillow Group, Inc. has a fifty-two week low of $34.70 and a fifty-two week high of $93.88. The stock has a fifty day moving average of $41.73 and a 200-day moving average of $55.04.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective 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. UBS Group cut their price target on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Wall Street Zen upgraded Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Keefe, Bruyette & Woods cut 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. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.00.

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.