IVY Lane Capital Management LLC Has $4.01 Million Stock Position in Zillow Group, Inc. $Z

IVY Lane Capital Management LLC trimmed its stake in Zillow Group, Inc. (NASDAQ:Z) by 61.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,000 shares of the financial services provider’s stock after selling 84,000 shares during the quarter. Zillow Group makes up 4.5% of IVY Lane Capital Management LLC’s holdings, making the stock its 8th largest holding. IVY Lane Capital Management LLC’s holdings in Zillow Group were worth $4,007,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Zillow Group by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock worth $1,777,841,000 after purchasing an additional 71,336 shares in the last quarter. Ninety One UK Ltd increased its position in shares of Zillow Group by 2.0% in the third quarter. Ninety One UK Ltd now owns 4,825,287 shares of the financial services provider’s stock worth $371,788,000 after acquiring an additional 93,339 shares in the last quarter. Eminence Capital LP raised 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 valued at $278,710,000 after acquiring an additional 1,546,577 shares during the period. Geode Capital Management LLC lifted its position in shares of Zillow Group by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,142,403 shares of the financial services provider’s stock valued at $219,467,000 after acquiring an additional 69,630 shares in the last quarter. Finally, Atreides Management LP lifted its position in shares of Zillow Group by 82.5% in the 2nd quarter. Atreides Management LP now owns 856,008 shares of the financial services provider’s stock valued at $59,963,000 after acquiring an additional 386,947 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Price Performance

Shares of NASDAQ Z opened at $44.62 on Monday. Zillow Group, Inc. has a one year low of $41.91 and a one year high of $93.88. The business’s 50-day moving average price is $60.21 and its two-hundred day moving average price is $71.18. The company has a market capitalization of $10.71 billion, a P/E ratio of 495.83, a price-to-earnings-growth ratio of 2.50 and a beta of 2.10.

Zillow Group (NASDAQ:Z) last posted its quarterly 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). The firm had revenue of $654.00 million for the quarter, compared to analysts’ expectations of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%. On average, equities analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

Z has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating on the stock in a research report on Monday, February 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Zelman & Associates raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Mizuho lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Zillow Group presently has an average rating of “Hold” and an average price target of $90.60.

Insider Activity

In other Zillow Group 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 value of $310,133.15. Following the completion of the sale, the insider directly owned 113,800 shares in the company, valued at $5,031,098. The trade was a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 7,786 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 57,487 shares of the company’s stock, valued at $2,513,906.51. This represents a 11.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 62,007 shares of company stock valued at $2,771,433. 23.76% of the stock is currently owned by company insiders.

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.