OFI Invest Asset Management Makes New Investment in Zillow Group, Inc. $Z

OFI Invest Asset Management acquired a new position in Zillow Group, Inc. (NASDAQ:Z) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 382,256 shares of the financial services provider’s stock, valued at approximately $26,078,000. OFI Invest Asset Management owned approximately 0.16% of Zillow Group at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Zillow Group by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock worth $1,777,841,000 after purchasing an additional 71,336 shares in the last quarter. Capital World Investors raised its holdings in Zillow Group by 7.8% in the 3rd quarter. Capital World Investors now owns 10,635,008 shares of the financial services provider’s stock worth $819,427,000 after purchasing an additional 769,944 shares in the last quarter. Ninety One UK Ltd raised its holdings in Zillow Group by 2.0% in the 3rd quarter. Ninety One UK Ltd now owns 4,825,287 shares of the financial services provider’s stock worth $371,788,000 after purchasing an additional 93,339 shares in the last quarter. Eminence Capital LP raised its holdings in Zillow Group by 63.6% in the 2nd quarter. Eminence Capital LP now owns 3,978,731 shares of the financial services provider’s stock worth $278,710,000 after purchasing an additional 1,546,577 shares in the last quarter. Finally, Dorsal Capital Management LP raised its holdings in Zillow Group by 9.4% in the 3rd quarter. Dorsal Capital Management LP now owns 2,681,250 shares of the financial services provider’s stock worth $206,590,000 after purchasing an additional 231,250 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Insider Activity at Zillow Group

In related news, CFO Jeremy Hofmann sold 7,786 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78. Following the sale, the chief financial officer directly owned 57,487 shares of the company’s stock, valued at approximately $2,513,906.51. This represents a 11.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dan Spaulding sold 5,361 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.95, for a total transaction of $235,615.95. Following the sale, the insider directly owned 41,080 shares in the company, valued at $1,805,466. This trade represents a 11.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,801 shares of company stock worth $2,683,986 in the last ninety days. 25.03% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on Z. Mizuho lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Keefe, Bruyette & Woods decreased their price target on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday, February 9th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Barclays upgraded shares of Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Finally, Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.60.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $41.43 on Thursday. The company has a 50-day moving average of $46.35 and a 200 day moving average of $62.95. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 460.38, a PEG ratio of 2.27 and a beta of 2.14. Zillow Group, Inc. has a 1 year low of $39.05 and a 1 year high of $93.88.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%. On average, equities analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current year.

Zillow Group 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.