L1 Capital Pty Ltd Grows Position in Zillow Group, Inc. $Z

L1 Capital Pty Ltd raised its position in Zillow Group, Inc. (NASDAQ:Z) by 24,803.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,729,313 shares of the financial services provider’s stock after buying an additional 1,722,369 shares during the quarter. Zillow Group comprises about 6.2% of L1 Capital Pty Ltd’s portfolio, making the stock its 6th largest holding. L1 Capital Pty Ltd’s holdings in Zillow Group were worth $117,974,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of Z. Empowered Funds LLC lifted its stake in Zillow Group by 4.7% in the 1st quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 171 shares in the last quarter. Intech Investment Management LLC lifted its stake in Zillow Group by 21.7% in the 1st quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock valued at $1,407,000 after acquiring an additional 3,653 shares in the last quarter. American Century Companies Inc. lifted its stake in Zillow Group by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 23,064 shares of the financial services provider’s stock valued at $1,616,000 after acquiring an additional 362 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Zillow Group by 186.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 1,092 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Zillow Group by 1,895.4% in the 2nd quarter. First Trust Advisors LP now owns 128,362 shares of the financial services provider’s stock valued at $8,992,000 after acquiring an additional 121,929 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Down 2.0%

NASDAQ:Z opened at $32.03 on Friday. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 128.12, a price-to-earnings-growth ratio of 1.40 and a beta of 1.97. Zillow Group, Inc. has a twelve month low of $31.49 and a twelve month high of $93.88. The stock’s 50 day moving average price is $39.70 and its two-hundred day moving average price is $52.17.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. As a group, analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on Z shares. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. cut their target price on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. UBS Group lowered their price target on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Royal Bank Of Canada lowered their price target on Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Wall Street Zen raised Zillow Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.00.

Insider Activity

In other Zillow Group news, CEO Jeremy Wacksman sold 9,072 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $36.54, for a total transaction of $331,490.88. Following the transaction, the chief executive officer owned 153,699 shares of the company’s stock, valued at $5,616,161.46. The trade was a 5.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Errol G. Samuelson sold 2,939 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $37.97, for a total value of $111,593.83. Following the transaction, the insider directly owned 134,039 shares in the company, valued at $5,089,460.83. This trade represents a 2.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 42,910 shares of company stock worth $1,605,732. Corporate insiders own 25.03% of the company’s stock.

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.