231,002 Zillow Group, Inc. $Z Shares Bought by IFP Advisors Inc

Key Points

• IFP Advisors nearly doubled its Zillow Group stake in the third quarter, acquiring 231,002 additional shares for a total of 469,184 shares valued at approximately $12.7 million. Institutional investors collectively own 71.01% of the company.
• Zillow reported quarterly EPS of $0.52, exceeding the $0.45 analyst consensus, while revenue of $772 million also topped expectations. Shares opened at $30.82, near the lower end of their 52-week range.
• Analyst sentiment is broadly cautious, with Zillow carrying an average “Hold” rating despite a $57.71 average price target. Insiders sold 38,539 shares worth approximately $1.32 million over the past three months.

IFP Advisors Inc grew its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 97.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 469,184 shares of the financial services provider's stock after acquiring an additional 231,002 shares during the quarter. IFP Advisors Inc owned 0.21% of Zillow Group worth $12,729,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of Z. Tiger Global Management LLC increased its position in Zillow Group by 21.7% during the first quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider's stock worth $304,927,000 after acquiring an additional 1,312,000 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Zillow Group by 21.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,896,206 shares of the financial services provider's stock valued at $78,461,000 after purchasing an additional 338,803 shares during the period. Quantinno Capital Management LP boosted its holdings in Zillow Group by 455.6% in the 1st quarter. Quantinno Capital Management LP now owns 641,618 shares of the financial services provider's stock valued at $26,550,000 after purchasing an additional 526,142 shares during the period. Swiss National Bank boosted its holdings in Zillow Group by 7.2% in the 1st quarter. Swiss National Bank now owns 491,834 shares of the financial services provider's stock valued at $20,352,000 after purchasing an additional 33,200 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Zillow Group by 199.9% during the 1st quarter. Hsbc Holdings PLC now owns 439,222 shares of the financial services provider's stock worth $18,182,000 after purchasing an additional 292,760 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Zillow Group Stock Performance

Shares of Z opened at $30.82 on Friday. Zillow Group, Inc. has a 52-week low of $26.67 and a 52-week high of $79.40. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 140.10, a PEG ratio of 1.36 and a beta of 2.04. The business's fifty day moving average is $31.82 and its 200-day moving average is $34.99.

Zillow Group (NASDAQ:Z - Get Free Report) last released its 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. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The firm had revenue of $772.00 million for the quarter, compared to analysts' expectations of $758.10 million. As a group, research analysts forecast that Zillow Group, Inc. will post 0.88 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, Director Erik C. Blachford sold 792 shares of the business's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total transaction of $28,282.32. Following the sale, the director owned 34,160 shares of the company's stock, valued at approximately $1,219,853.60. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,169 shares of the company's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $35.37, for a total transaction of $112,087.53. Following the transaction, the insider owned 44,561 shares of the company's stock, valued at $1,576,122.57. This trade represents a 6.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 38,539 shares of company stock valued at $1,323,800. Corporate insiders own 25.03% of the company's stock.

Wall Street Analyst Weigh In

Z has been the subject of a number of analyst reports. Sanford C. Bernstein downgraded shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Morgan Stanley cut their price target on Zillow Group from $60.00 to $35.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 13th. Wall Street Zen downgraded Zillow Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a research report on Friday. Finally, Keefe, Bruyette & Woods dropped their price objective on Zillow Group from $37.00 to $34.00 and set a "market perform" rating for the company in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Zillow Group has an average rating of "Hold" and an average price target of $57.71.

About Zillow Group

Zillow Group, Inc is a technology company that operates digital real estate marketplaces and related services in the United States. Its platforms help consumers search for homes to buy or rent, research neighborhoods and property values, connect with real estate professionals, and manage aspects of the transaction process.

The company's portfolio includes Zillow, Trulia, StreetEasy and HotPads, along with services such as Zillow Premier Agent, Zillow Rentals, ShowingTime+ and Zillow Home Loans.

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