Nordea Investment Management AB Has $115,000 Position in Zillow Group, Inc. (Z)
Nordea Investment Management AB held its stake in Zillow Group, Inc. (NASDAQ:Z) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,412 shares of the financial services provider’s stock at the end of the first quarter. Nordea Investment Management AB’s holdings in Zillow Group were worth $115,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in Zillow Group by 485.0% in the first quarter. Russell Investments Group Ltd. now owns 975,639 shares of the financial services provider’s stock valued at $32,853,000 after buying an additional 808,866 shares during the period. Norges Bank purchased a new position in Zillow Group during the fourth quarter worth approximately $26,689,000. Asset Management One Co. Ltd. increased its position in Zillow Group by 1,899.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 198,549 shares of the financial services provider’s stock worth $7,248,000 after buying an additional 188,617 shares during the period. Thornburg Investment Management Inc. increased its position in Zillow Group by 87.7% in the first quarter. Thornburg Investment Management Inc. now owns 363,526 shares of the financial services provider’s stock worth $12,240,000 after buying an additional 169,880 shares during the period. Finally, Janus Capital Management LLC increased its position in Zillow Group by 18.3% in the fourth quarter. Janus Capital Management LLC now owns 798,694 shares of the financial services provider’s stock worth $29,128,000 after buying an additional 123,678 shares during the period. 91.99% of the stock is currently owned by institutional investors.
Zillow Group, Inc. (Z) opened at 45.65 on Friday. The firm has a 50-day moving average price of $43.20 and a 200-day moving average price of $37.72. The stock’s market cap is $8.36 billion. Zillow Group, Inc. has a 52 week low of $31.22 and a 52 week high of $46.06.
Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Thursday, May 4th. The financial services provider reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.10. Zillow Group had a negative net margin of 19.58% and a negative return on equity of 5.65%. The company had revenue of $245.78 million during the quarter. On average, equities research analysts predict that Zillow Group, Inc. will post $0.46 EPS for the current year.
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Z has been the topic of several analyst reports. Zacks Investment Research upgraded Zillow Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 17th. Cowen and Company lifted their target price on Zillow Group from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, May 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price (up previously from $41.00) on shares of Zillow Group in a research report on Friday, May 5th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.00.
In related news, CEO Spencer M. Rascoff sold 120,146 shares of Zillow Group stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $43.34, for a total value of $5,207,127.64. Following the transaction, the chief executive officer now directly owns 120,146 shares of the company’s stock, valued at $5,207,127.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Spencer M. Rascoff sold 29,854 shares of Zillow Group stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $43.94, for a total transaction of $1,311,784.76. Following the completion of the transaction, the chief executive officer now directly owns 120,146 shares in the company, valued at $5,279,215.24. The disclosure for this sale can be found here. Company insiders own 26.97% of the company’s stock.
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