Vinva Investment Management Ltd Acquires 78,887 Shares of Zillow Group, Inc. $Z

Vinva Investment Management Ltd increased its holdings in Zillow Group, Inc. (NASDAQ:Z) by 759.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,271 shares of the financial services provider’s stock after purchasing an additional 78,887 shares during the quarter. Vinva Investment Management Ltd’s holdings in Zillow Group were worth $7,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Empowered Funds LLC grew its stake in shares of Zillow Group by 4.7% during the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after buying an additional 171 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Zillow Group by 21.7% in the first quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock worth $1,407,000 after buying an additional 3,653 shares during the period. Assetmark Inc. lifted its stake in shares of Zillow Group by 210.3% in the 2nd quarter. Assetmark Inc. now owns 2,231 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 1,512 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Zillow Group by 4.6% in the 2nd quarter. Bank of Montreal Can now owns 192,222 shares of the financial services provider’s stock valued at $13,465,000 after acquiring an additional 8,383 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its holdings in Zillow Group by 6.1% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 50,789 shares of the financial services provider’s stock valued at $3,556,000 after acquiring an additional 2,920 shares during the period. 71.01% of the stock is owned by institutional investors.

Insider Activity at Zillow Group

In related news, CEO Jeremy Wacksman sold 13,661 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $44.25, for a total value of $604,499.25. Following the sale, the chief executive officer directly owned 116,322 shares of the company’s stock, valued at $5,147,248.50. This represents a 10.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Hofmann sold 7,786 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total value of $340,481.78. Following the completion of the transaction, the chief financial officer owned 57,487 shares of the company’s stock, valued at approximately $2,513,906.51. This trade represents a 11.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,801 shares of company stock valued at $2,683,986 over the last ninety days. Insiders own 23.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 29th. Mizuho lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a report on Monday, February 9th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.60.

Zillow Group Price Performance

Z stock opened at $45.91 on Monday. Zillow Group, Inc. has a 1 year low of $41.91 and a 1 year high of $93.88. The firm has a 50-day moving average of $57.84 and a 200 day moving average of $69.83. The company has a market cap of $11.02 billion, a P/E ratio of 510.17, a PEG ratio of 2.57 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 firm had revenue of $654.00 million for the quarter, compared to analysts’ expectations of $650.40 million. On average, equities research analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

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.