Hsbc Holdings PLC Raises Stock Holdings in Zillow Group, Inc. $Z

Hsbc Holdings PLC lifted its stake in Zillow Group, Inc. (NASDAQ:Z) by 199.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 439,222 shares of the financial services provider’s stock after buying an additional 292,760 shares during the quarter. Hsbc Holdings PLC’s holdings in Zillow Group were worth $18,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in Zillow Group by 228.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 470,288 shares of the financial services provider’s stock worth $32,083,000 after acquiring an additional 327,076 shares during the period. Baillie Gifford & Co. lifted its holdings in Zillow Group by 11.4% during the fourth quarter. Baillie Gifford & Co. now owns 739,270 shares of the financial services provider’s stock valued at $50,433,000 after purchasing an additional 75,682 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Zillow Group by 472.1% in the fourth quarter. SG Americas Securities LLC now owns 245,205 shares of the financial services provider’s stock worth $16,728,000 after purchasing an additional 202,343 shares during the period. IFP Advisors Inc boosted its position in shares of Zillow Group by 17,458.4% in the fourth quarter. IFP Advisors Inc now owns 73,921 shares of the financial services provider’s stock worth $5,043,000 after purchasing an additional 73,500 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Zillow Group by 76.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 411,197 shares of the financial services provider’s stock worth $28,052,000 after purchasing an additional 178,118 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

More Zillow Group News

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

• Negative Sentiment: Multiple firms, including Bleichmar Fonti & Auld, Rosen, Schall, Portnoy, and others, reiterated class-action claims against Zillow Group over alleged misrepresentations tied to an anticompetitive agreement, with investor deadlines approaching. Article Title
• Negative Sentiment: Law firms are actively soliciting Zillow investors to join the securities class action, which keeps legal risk in focus and can add to near-term pressure on the stock. Article Title
• Neutral Sentiment: One unrelated story noted that Zillow-listed empty lots could help address the U.S. housing shortage, which is broadly constructive for housing-market discussion but does not directly change Zillow’s fundamentals. Article Title

Insider Activity at Zillow Group

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,364 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $37.23, for a total value of $125,241.72. Following the sale, the general counsel owned 65,245 shares in the company, valued at $2,429,071.35. The trade was a 4.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.97, for a total value of $111,593.83. Following the transaction, the insider owned 134,039 shares of the company’s stock, valued at approximately $5,089,460.83. The trade was a 2.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 42,910 shares of company stock valued at $1,605,732 in the last ninety days. Corporate insiders own 23.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on Z shares. Royal Bank Of Canada decreased their price objective on shares of Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 10th. JPMorgan Chase & Co. dropped their target price on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Zacks Research upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Jefferies Financial Group decreased their price target on Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Finally, UBS Group lowered their price objective 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. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.38.

Zillow Group Price Performance

Z stock opened at $31.85 on Wednesday. Zillow Group, Inc. has a 1-year low of $29.23 and a 1-year high of $93.88. The business has a 50 day simple moving average of $33.88 and a two-hundred day simple moving average of $44.51. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 127.40, a PEG ratio of 1.41 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.10 million. Sell-side analysts anticipate that Zillow Group, Inc. will post 0.9 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.