Quantitative Investment Management LLC Boosts Stock Holdings in Zillow Group, Inc. $Z

Quantitative Investment Management LLC raised its stake in Zillow Group, Inc. (NASDAQ:Z) by 62.2% during the second quarter, HoldingsChannel.com reports. The fund owned 67,275 shares of the financial services provider’s stock after purchasing an additional 25,807 shares during the quarter. Quantitative Investment Management LLC’s holdings in Zillow Group were worth $2,120,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in Z. The Manufacturers Life Insurance Company increased its stake in Zillow Group by 106.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider’s stock worth $1,718,000 after acquiring an additional 21,439 shares during the last quarter. Tiger Global Management LLC raised its stake in shares of Zillow Group by 21.7% in the first quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after acquiring an additional 1,312,000 shares during the period. IFP Advisors Inc raised its position in Zillow Group by 17,458.4% in the 4th 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. Emmett Investment Management LP raised its holdings in shares of Zillow Group by 353.9% in the first quarter. Emmett Investment Management LP now owns 96,236 shares of the financial services provider’s stock worth $3,897,000 after buying an additional 75,036 shares during the period. Finally, Weiss Asset Management LP bought a new stake in shares of Zillow Group during the first quarter worth $1,743,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Sanford C. Bernstein lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Zacks Research downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Evercore cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.75.

Insider Activity at Zillow Group

In related news, insider Dan Spaulding sold 3,169 shares of Zillow Group stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the sale, the insider directly owned 44,561 shares in the company, valued at $1,576,122.57. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the sale, the chief executive officer owned 138,574 shares in the company, valued at approximately $4,736,459.32. The trade was a 6.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 37,351 shares of company stock worth $1,280,657 over the last ninety days. Corporate insiders own 23.76% of the company’s stock.

Zillow Group Trading Down 2.0%

Shares of NASDAQ Z opened at $34.96 on Tuesday. The stock has a market capitalization of $7.86 billion, a PE ratio of 158.92, a price-to-earnings-growth ratio of 1.55 and a beta of 1.98. The stock’s fifty day simple moving average is $33.50 and its two-hundred day simple moving average is $38.30. Zillow Group, Inc. has a 12-month low of $29.23 and a 12-month high of $93.88.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. On average, equities analysts predict that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

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.