Emmett Investment Management LP Invests $2.88 Million in Zillow Group, Inc. (NASDAQ:Z)

Emmett Investment Management LP bought a new position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 38,925 shares of the financial services provider's stock, valued at approximately $2,882,000. Zillow Group comprises approximately 2.6% of Emmett Investment Management LP's investment portfolio, making the stock its 18th largest holding.

Several other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Zillow Group by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,538,709 shares of the financial services provider's stock valued at $113,941,000 after buying an additional 11,727 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Zillow Group in the 4th quarter valued at $7,375,000. Vinva Investment Management Ltd acquired a new stake in shares of Zillow Group in the 4th quarter valued at $1,187,000. Donoghue Forlines LLC purchased a new position in shares of Zillow Group in the 4th quarter valued at $1,932,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Zillow Group by 18.5% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 44,114 shares of the financial services provider's stock valued at $3,267,000 after buying an additional 6,900 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on Z shares. JPMorgan Chase & Co. cut their target price on shares of Zillow Group from $93.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Wedbush reaffirmed an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a research report on Monday, May 5th. Needham & Company LLC reiterated a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 12th. Baird R W upgraded shares of Zillow Group to a "hold" rating in a research report on Friday, January 31st. Finally, William Blair assumed coverage on shares of Zillow Group in a report on Monday, April 21st. They set a "market perform" rating on the stock. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Zillow Group currently has an average rating of "Moderate Buy" and a consensus price target of $83.71.

Insider Transactions at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 5,997 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $68.06, for a total value of $408,155.82. Following the completion of the sale, the chief accounting officer now owns 58,320 shares in the company, valued at approximately $3,969,259.20. This represents a 9.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO David A. Beitel sold 2,025 shares of Zillow Group stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.75, for a total transaction of $157,443.75. Following the completion of the transaction, the chief technology officer now directly owns 151,046 shares of the company's stock, valued at $11,743,826.50. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,845 shares of company stock worth $7,228,364. Corporate insiders own 25.03% of the company's stock.

Zillow Group Stock Performance

NASDAQ Z traded down $1.77 on Wednesday, hitting $68.52. The stock had a trading volume of 1,881,790 shares, compared to its average volume of 3,261,850. Zillow Group, Inc. has a 52-week low of $39.05 and a 52-week high of $89.39. The company has a market capitalization of $16.62 billion, a price-to-earnings ratio of -145.79, a price-to-earnings-growth ratio of 9.24 and a beta of 2.23. The firm has a 50-day moving average of $67.53 and a 200-day moving average of $73.71.

Zillow Group (NASDAQ:Z - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. As a group, research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.