Handelsbanken Fonder AB Raises Holdings in Zillow Group, Inc. (NASDAQ:Z)

Handelsbanken Fonder AB lifted its position in Zillow Group, Inc. (NASDAQ:Z) by 26.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,500 shares of the financial services provider’s stock after purchasing an additional 9,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Zillow Group were worth $2,905,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Verition Fund Management LLC purchased a new stake in Zillow Group during the fourth quarter valued at $8,648,000. Symmetry Peak Management LLC purchased a new stake in shares of Zillow Group during the 4th quarter valued at about $318,000. Power Corp of Canada bought a new position in shares of Zillow Group in the 4th quarter valued at about $251,000. Bridgefront Capital LLC purchased a new position in Zillow Group in the fourth quarter worth about $439,000. Finally, True Vision MN LLC bought a new stake in Zillow Group during the fourth quarter worth approximately $442,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Price Performance

Shares of Z opened at $62.26 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The company’s fifty day moving average price is $56.78 and its 200-day moving average price is $49.45. Zillow Group, Inc. has a 1-year low of $33.80 and a 1-year high of $68.73. The firm has a market capitalization of $14.70 billion, a PE ratio of -90.23 and a beta of 1.95.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm had revenue of $572.00 million for the quarter, compared to analyst estimates of $539.74 million. On average, equities research analysts predict that Zillow Group, Inc. will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on Z shares. Morgan Stanley increased their target price on shares of Zillow Group from $46.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. UBS Group raised Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald raised Zillow Group to a “hold” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.20.

Insider Activity at Zillow Group

In related news, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the sale, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Jeremy Wacksman sold 4,480 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $52.83, for a total transaction of $236,678.40. Following the transaction, the chief executive officer now owns 174,439 shares in the company, valued at $9,215,612.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jennifer Rock sold 4,050 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the sale, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,999 shares of company stock worth $11,780,363. 23.76% of the stock is owned by corporate insiders.

Zillow Group Company 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.