DNB Asset Management AS Has $7.55 Million Position in Zillow Group, Inc. $Z

DNB Asset Management AS boosted its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 245.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,012 shares of the financial services provider’s stock after acquiring an additional 69,605 shares during the period. DNB Asset Management AS’s holdings in Zillow Group were worth $7,552,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of Z. Root Financial Partners LLC acquired a new stake in shares of Zillow Group during the 3rd quarter worth $27,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Zillow Group during the third quarter worth about $29,000. Cullen Frost Bankers Inc. grew its stake in Zillow Group by 58.6% during the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock worth $34,000 after buying an additional 163 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in Zillow Group by 58.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock valued at $35,000 after buying an additional 185 shares during the period. Finally, Pittenger & Anderson Inc. raised its position in shares of Zillow Group by 32.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock valued at $42,000 after buying an additional 135 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on Z. Barclays upgraded shares of Zillow Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 29th. Zelman & Associates raised Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Keefe, Bruyette & Woods decreased their price target on Zillow Group from $80.00 to $65.00 and set a “market perform” rating on the stock in a research note on Monday, February 9th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.60.

Zillow Group Price Performance

Shares of NASDAQ Z opened at $44.62 on Monday. The company has a 50 day simple moving average of $60.21 and a 200 day simple moving average of $71.18. Zillow Group, Inc. has a 1 year low of $41.91 and a 1 year high of $93.88. The firm has a market cap of $10.71 billion, a PE ratio of 495.83, a price-to-earnings-growth ratio of 2.50 and a beta of 2.10.

Zillow Group (NASDAQ:Z) last posted its earnings results on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The business had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. As a group, research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zillow Group news, CTO David A. Beitel sold 3,966 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $44.22, for a total value of $175,376.52. Following the sale, the chief technology officer owned 136,690 shares in the company, valued at approximately $6,044,431.80. The trade was a 2.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Bradley D. Owens sold 2,602 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $44.42, for a total value of $115,580.84. Following the completion of the sale, the general counsel directly owned 33,355 shares of the company’s stock, valued at approximately $1,481,629.10. The trade was a 7.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,007 shares of company stock valued at $2,771,433 over the last quarter. 23.76% of the stock is currently owned by company insiders.

About Zillow Group

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.