NZS Capital LLC Raises Stock Position in Zillow Group, Inc. $Z

NZS Capital LLC boosted its stake in Zillow Group, Inc. (NASDAQ:Z) by 6.7% in the third quarter, HoldingsChannel reports. The firm owned 322,803 shares of the financial services provider’s stock after acquiring an additional 20,373 shares during the period. NZS Capital LLC’s holdings in Zillow Group were worth $24,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 71,336 shares during the last quarter. Ninety One UK Ltd increased its position in 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 buying an additional 93,339 shares in the last quarter. Eminence Capital LP raised its stake in shares of Zillow Group by 63.6% in the second quarter. Eminence Capital LP now owns 3,978,731 shares of the financial services provider’s stock worth $278,710,000 after buying an additional 1,546,577 shares during the period. Geode Capital Management LLC raised its stake in shares of Zillow Group by 2.3% in the second quarter. Geode Capital Management LLC now owns 3,142,403 shares of the financial services provider’s stock worth $219,467,000 after buying an additional 69,630 shares during the period. Finally, Atreides Management LP lifted its position in shares of Zillow Group by 82.5% during the 2nd quarter. Atreides Management LP now owns 856,008 shares of the financial services provider’s stock valued at $59,963,000 after buying an additional 386,947 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Z has been the subject of several analyst reports. Barclays raised shares of Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Zelman & Associates raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Finally, Mizuho cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Two 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 issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $90.60.

Insiders Place Their Bets

In other news, CTO David A. Beitel sold 3,966 shares of Zillow Group stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $44.22, for a total value of $175,376.52. Following the sale, the chief technology officer directly owned 136,690 shares of the company’s stock, valued at approximately $6,044,431.80. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeremy Hofmann sold 7,786 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer owned 57,487 shares in the company, 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. Over the last 90 days, insiders have sold 60,801 shares of company stock worth $2,683,986. 23.76% of the stock is owned by corporate insiders.

Zillow Group Price Performance

Z stock opened at $45.23 on Wednesday. Zillow Group, Inc. has a 1-year low of $41.91 and a 1-year high of $93.88. The business has a 50 day simple moving average of $59.24 and a two-hundred day simple moving average of $70.61. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 502.61, a PEG ratio of 2.44 and a beta of 2.10.

Zillow Group (NASDAQ:Z) last released its earnings results on Tuesday, February 10th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The company had revenue of $654.00 million during the quarter, compared to analysts’ expectations of $650.40 million. Sell-side analysts anticipate that Zillow Group, Inc. will post 0.32 EPS 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.