Jain Global LLC Makes New $6.22 Million Investment in Zillow Group, Inc. $Z

Jain Global LLC bought a new position in shares of Zillow Group, Inc. (NASDAQ:Z) during the 3rd quarter, Holdings Channel reports. The firm bought 80,724 shares of the financial services provider’s stock, valued at approximately $6,220,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in Z. Empowered Funds LLC raised its holdings in shares of Zillow Group by 4.7% in 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 grew its holdings in Zillow Group by 21.7% during the 1st quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock worth $1,407,000 after acquiring an additional 3,653 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Zillow Group by 25.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 4,946 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 991 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Zillow Group by 58.2% in the second quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 185 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Zillow Group by 2.5% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 70,735 shares of the financial services provider’s stock worth $4,955,000 after acquiring an additional 1,739 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zillow Group

In related news, CFO Jeremy Hofmann sold 7,786 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total transaction of $340,481.78. Following the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Bradley D. Owens sold 2,602 shares of Zillow Group stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $44.42, for a total value of $115,580.84. Following the transaction, the general counsel owned 33,355 shares in the company, valued at approximately $1,481,629.10. This represents a 7.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,801 shares of company stock worth $2,683,986 in the last three months. 23.76% of the stock is owned by insiders.

Zillow Group Stock Performance

Shares of NASDAQ Z opened at $42.36 on Tuesday. Zillow Group, Inc. has a 52-week low of $41.13 and a 52-week high of $93.88. The stock has a market cap of $10.16 billion, a P/E ratio of 470.72, a P/E/G ratio of 2.40 and a beta of 2.10. The firm has a 50 day moving average price of $54.90 and a 200 day moving average price of $68.07.

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 the consensus estimate of $0.42 by ($0.03). The firm had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%. Analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Z has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating on the stock in a research note on Monday, February 9th. Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Finally, Barclays raised Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $90.60.

Zillow Group 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.