Maplelane Capital LLC Sells 43,000 Shares of Zillow Group, Inc. $Z

Maplelane Capital LLC trimmed its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 27.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 115,000 shares of the financial services provider’s stock after selling 43,000 shares during the quarter. Maplelane Capital LLC owned about 0.05% of Zillow Group worth $4,759,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC increased its position in shares of Zillow Group by 4.7% in the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 171 shares during the period. Intech Investment Management LLC lifted its position in Zillow Group by 21.7% during the first quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock worth $1,407,000 after purchasing an additional 3,653 shares during the period. American Century Companies Inc. lifted its position in Zillow Group by 1.6% during the second quarter. American Century Companies Inc. now owns 23,064 shares of the financial services provider’s stock worth $1,616,000 after purchasing an additional 362 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Zillow Group by 186.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,092 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Zillow Group by 1,895.4% during the second quarter. First Trust Advisors LP now owns 128,362 shares of the financial services provider’s stock worth $8,992,000 after buying an additional 121,929 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,364 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $37.23, for a total transaction of $125,241.72. Following the completion of the sale, the general counsel owned 65,245 shares of the company’s stock, valued at approximately $2,429,071.35. This represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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, CEO Jeremy Wacksman sold 9,072 shares of the stock in a transaction 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 sale, the chief executive officer owned 153,699 shares of the company’s stock, valued at approximately $5,616,161.46. This trade represents a 5.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 42,910 shares of company stock worth $1,605,732. 25.03% of the stock is owned by corporate insiders.

Zillow Group Stock Performance

Shares of NASDAQ Z opened at $30.76 on Friday. The firm has a 50 day moving average price of $33.44 and a two-hundred day moving average price of $43.91. The stock has a market cap of $7.04 billion, a P/E ratio of 123.04, a price-to-earnings-growth ratio of 1.26 and a beta of 1.98. Zillow Group, Inc. has a 52-week low of $29.23 and a 52-week high of $93.88.

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

Analysts Set New Price Targets

Several analysts recently issued reports on Z shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. UBS Group cut their target price on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. JPMorgan Chase & Co. reduced their target price on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wall Street Zen upgraded Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, 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 research note on Tuesday, July 14th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average price target of $72.38.

More Zillow Group News

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

• Negative Sentiment: Zillow faces renewed legal overhang after Bleichmar Fonti & Auld said a class action was filed over alleged securities fraud linked to its anticompetitive agreement, adding pressure from potential regulatory and litigation risks. Article: Zillow Sued for Fraud Over Misrepresentations about its Anticompetitive Agreement
• Negative Sentiment: Several law firms, including ClaimsFiler, Kahn Swick & Foti, Rosen, Faruqi & Faruqi, and Pomerantz, issued investor alerts urging shareholders who bought Zillow shares during the class period to seek counsel or pursue lead-plaintiff status, keeping the litigation story in focus. Article: Zillow Shareholder Alert: ClaimsFiler Reminds Investors…
• Neutral Sentiment: Short-interest data showed no meaningful change, so it does not appear to be a driver of the stock move.
• Neutral Sentiment: Zillow’s rent report noted U.S. asking rents rose 2.2% year over year in June, while concessions remained elevated; this is informative for the housing backdrop but not a direct catalyst for the shares. Article: Rent is ticking up, but so are the deals

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.