Zevenbergen Capital Investments LLC Trims Stake in Zillow Group, Inc. $Z

Zevenbergen Capital Investments LLC reduced its holdings in Zillow Group, Inc. (NASDAQ:Z) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 791,746 shares of the financial services provider’s stock after selling 32,798 shares during the quarter. Zillow Group accounts for about 1.2% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 26th largest position. Zevenbergen Capital Investments LLC’s holdings in Zillow Group were worth $61,004,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of Z. Eminence Capital LP grew its holdings in shares of Zillow Group by 63.6% during the second quarter. Eminence Capital LP now owns 3,978,731 shares of the financial services provider’s stock worth $278,710,000 after purchasing an additional 1,546,577 shares in the last quarter. Holocene Advisors LP purchased a new stake in Zillow Group in the second quarter valued at approximately $57,021,000. Ninety One UK Ltd lifted its position in Zillow Group by 17.4% during the second quarter. Ninety One UK Ltd now owns 4,731,948 shares of the financial services provider’s stock valued at $331,473,000 after purchasing an additional 702,445 shares during the last quarter. Atreides Management LP bought a new stake in Zillow Group during the first quarter valued at approximately $32,159,000. Finally, AQR Capital Management LLC grew its stake in Zillow Group by 320.0% in the 1st quarter. AQR Capital Management LLC now owns 550,217 shares of the financial services provider’s stock worth $37,222,000 after buying an additional 419,202 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on Z. Gordon Haskett upgraded shares of Zillow Group to a “strong-buy” rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods reduced their target price on Zillow Group from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, October 8th. Mizuho raised Zillow Group to a “strong-buy” rating in a research note on Monday, September 29th. Finally, Sanford C. Bernstein upgraded Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a report on Wednesday, September 17th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and an average price target of $91.14.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 7,641 shares of Zillow Group stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $71.13, for a total value of $543,504.33. Following the transaction, the insider directly owned 120,815 shares of the company’s stock, valued at $8,593,570.95. The trade was a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David A. Beitel sold 3,893 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $71.12, for a total value of $276,870.16. Following the completion of the sale, the chief technology officer owned 140,656 shares of the company’s stock, valued at $10,003,454.72. The trade was a 2.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 67,511 shares of company stock worth $4,766,357 over the last quarter. Company insiders own 25.03% of the company’s stock.

Zillow Group Stock Up 2.1%

Shares of NASDAQ:Z opened at $68.96 on Friday. The company’s fifty day moving average is $72.82 and its 200 day moving average is $76.42. Zillow Group, Inc. has a 52 week low of $57.51 and a 52 week high of $93.88. The stock has a market cap of $16.69 billion, a PE ratio of -492.54, a PEG ratio of 26.55 and a beta of 2.10.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The company had revenue of $729.00 million for the quarter, compared to the consensus estimate of $670.28 million. Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. Sell-side analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current year.

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.