Dorsal Capital Management LP Acquires 231,250 Shares of Zillow Group, Inc. $Z

Dorsal Capital Management LP increased its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 9.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,681,250 shares of the financial services provider’s stock after purchasing an additional 231,250 shares during the period. Zillow Group comprises approximately 5.5% of Dorsal Capital Management LP’s holdings, making the stock its 7th largest holding. Dorsal Capital Management LP’s holdings in Zillow Group were worth $206,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pittenger & Anderson Inc. increased its stake in Zillow Group by 32.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 135 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ lifted its stake in Zillow Group by 0.3% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 48,575 shares of the financial services provider’s stock valued at $3,743,000 after buying an additional 144 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings 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 buying an additional 162 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of Zillow Group by 58.6% in the third 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 during the period. Finally, Empowered Funds LLC increased its position 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 worth $262,000 after acquiring an additional 171 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Mizuho lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Zelman & Associates upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Barclays raised Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods decreased their price objective on 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 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 company’s stock. According to MarketBeat.com, Zillow Group currently has a consensus rating of “Hold” and a consensus price target of $90.60.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $42.90 on Friday. The company’s 50-day moving average price is $55.37 and its two-hundred day moving average price is $68.48. Zillow Group, Inc. has a one year low of $41.13 and a one year high of $93.88. The stock has a market capitalization of $10.29 billion, a PE ratio of 476.72, a price-to-earnings-growth ratio of 2.40 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The company had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. On average, analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other news, insider Errol G. Samuelson sold 7,015 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $44.21, for a total value of $310,133.15. Following the completion of the sale, the insider owned 113,800 shares of the company’s stock, valued at approximately $5,031,098. This represents a 5.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeremy Hofmann sold 7,786 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78. Following the completion of the transaction, 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. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 60,801 shares of company stock valued at $2,683,986. 25.03% of the stock is owned by 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.