Norges Bank Buys New Shares in Zillow Group, Inc. $ZG

Norges Bank acquired a new stake in Zillow Group, Inc. (NASDAQ:ZG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,228,493 shares of the technology company’s stock, valued at approximately $152,050,000. Norges Bank owned approximately 0.92% of Zillow Group as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in shares of Zillow Group by 78.9% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after acquiring an additional 187 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Zillow Group by 4,130.0% in the fourth quarter. Global Retirement Partners LLC now owns 846 shares of the technology company’s stock valued at $58,000 after acquiring an additional 826 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Zillow Group by 23.1% in the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock valued at $80,000 after acquiring an additional 194 shares in the last quarter. Group One Trading LLC lifted its position in shares of Zillow Group by 884.7% in the third quarter. Group One Trading LLC now owns 1,477 shares of the technology company’s stock valued at $110,000 after acquiring an additional 1,327 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Zillow Group by 10.4% in the fourth quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after acquiring an additional 161 shares in the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Trading Down 2.7%

NASDAQ:ZG opened at $35.59 on Thursday. The company has a market capitalization of $8.14 billion, a P/E ratio of 142.36, a P/E/G ratio of 1.56 and a beta of 1.94. Zillow Group, Inc. has a 12 month low of $34.68 and a 12 month high of $90.22. The business’s 50-day moving average is $40.97 and its 200 day moving average is $53.31.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. On average, research analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,364 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $37.23, for a total transaction of $125,241.72. Following the sale, the general counsel directly owned 65,245 shares of the company’s stock, valued at $2,429,071.35. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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. Also, insider Dan Spaulding sold 3,078 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the sale, the insider directly owned 49,696 shares in the company, valued at $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. 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 sold 42,119 shares of company stock valued at $1,578,206 in the last ninety days. Company insiders own 29.88% of the company’s stock.

Analyst Upgrades and Downgrades

ZG has been the topic of several research analyst reports. KeyCorp lowered their price objective on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company lowered their price objective on Zillow Group from $60.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Piper Sandler lowered their price objective on Zillow Group from $70.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Citigroup restated a “market outperform” rating on shares of Zillow Group in a research report on Tuesday, May 26th. Finally, Cantor Fitzgerald lowered their price objective on Zillow Group from $56.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Thirteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $71.24.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.