Coronation Fund Managers Ltd. Takes $18.14 Million Position in Zillow Group, Inc. $Z

Coronation Fund Managers Ltd. bought a new position in shares of Zillow Group, Inc. (NASDAQ:Z) in the 3rd quarter, HoldingsChannel reports. The fund bought 235,448 shares of the financial services provider’s stock, valued at approximately $18,141,000. Zillow Group comprises approximately 0.9% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 26th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Pittenger & Anderson Inc. raised its position in shares of Zillow Group by 32.8% in the third quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 135 shares during the period. Brighton Jones LLC lifted its position in shares of Zillow Group by 2.5% during the second quarter. Brighton Jones LLC now owns 5,747 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 140 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Zillow Group by 20.5% in the third quarter. Farther Finance Advisors LLC now owns 954 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 162 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in Zillow Group by 58.6% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock valued at $34,000 after buying an additional 163 shares in the last quarter. Finally, Empowered Funds LLC lifted 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 worth $262,000 after buying an additional 171 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Zelman & Associates raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Keefe, Bruyette & Woods dropped their price objective on Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday, February 9th. JPMorgan Chase & Co. boosted their target price on Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Mizuho lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $90.60.

Insider Buying and Selling at Zillow Group

In other news, insider Errol G. Samuelson sold 7,015 shares of Zillow Group stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $44.21, for a total transaction of $310,133.15. Following the completion of the transaction, the insider directly owned 113,800 shares in the company, valued at approximately $5,031,098. This trade represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Bradley D. Owens sold 2,722 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $67.41, for a total value of $183,490.02. Following the completion of the sale, the general counsel owned 37,974 shares in the company, valued at $2,559,827.34. The trade was a 6.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 23,753 shares of company stock valued at $1,148,029. 25.03% of the stock is currently owned by company insiders.

Zillow Group Stock Down 0.8%

Shares of Z opened at $43.45 on Friday. The stock has a market capitalization of $10.52 billion, a P/E ratio of 482.83, a PEG ratio of 3.23 and a beta of 2.08. Zillow Group, Inc. has a twelve month low of $42.50 and a twelve month high of $93.88. The firm has a fifty day simple moving average of $65.62 and a two-hundred day simple moving average of $73.86.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. Sell-side analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Key Headlines Impacting Zillow Group

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zelman & Associates upgraded Zillow from “hold” to “strong-buy,” giving the stock a near-term bullish analyst catalyst. Zacks Zelman Upgrade
• Positive Sentiment: Some investors/analysts view the pullback as a buying opportunity — a Seeking Alpha piece argues AI competition is not an existential threat and recommends buying the plunge, which could support bargain-hunters. Seeking Alpha: Buy The Plunge
• Neutral Sentiment: Q4 revenue of about $654M slightly topped Wall Street’s estimate, a mild positive for top-line momentum but not enough to offset the EPS miss. Benzinga: Earnings Recap
• Negative Sentiment: Zillow missed on adjusted EPS ($0.39 vs. $0.42 expected), which is the primary driver cited for the recent selloff and the weekly/near-term price weakness. Benzinga: Earnings Miss
• Negative Sentiment: The stock has hit a new 52‑week / 12‑month low, reflecting investor concern and technical weakness that can prompt further selling. Investing.com: 52-Week Low
• Negative Sentiment: Multiple insiders — including the general counsel, CTO, COO and CAO — sold shares in mid‑February, which may be interpreted negatively by the market even if the trades are routine. (SEC filings disclose the trades.) SEC Form 4 Insider Sales
• Negative Sentiment: Ongoing litigation and related disclosures remain a drag on sentiment and are cited in coverage as an additional headwind for the stock. MSN: Litigation Pressure
• Negative Sentiment: Broader analyst and media coverage highlights the projected earnings shortfall as the catalyst for the sharp weekly decline, reinforcing negative sentiment. The Motley Fool: Why Stock Dropped

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.