Amundi Reduces Stock Holdings in Zillow Group, Inc. $Z

Key Points

• Amundi reduced its Zillow Group stake by 29.8% in the first quarter, selling 486,957 shares and retaining 1.15 million shares worth approximately $47.4 million. Institutional investors collectively own 71.01% of the company.
• Analysts maintain a generally positive outlook, with Zillow receiving a consensus “Moderate Buy” rating and an average price target of $72.38, despite several recent target-price cuts.
• Zillow shares opened at $34.06, near the lower end of their 52-week range of $29.23 to $93.88. The company recently beat quarterly expectations, reporting $0.53 in EPS versus the $0.43 consensus and revenue of $708 million.

Amundi lowered its position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 29.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,145,412 shares of the financial services provider's stock after selling 486,957 shares during the period. Amundi owned about 0.50% of Zillow Group worth $47,397,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Tiger Global Management LLC increased its position in Zillow Group by 21.7% during the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider's stock worth $304,927,000 after purchasing an additional 1,312,000 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Zillow Group by 11.4% in the 4th quarter. Baillie Gifford & Co. now owns 739,270 shares of the financial services provider's stock valued at $50,433,000 after buying an additional 75,682 shares during the period. IFP Advisors Inc boosted its stake in shares of Zillow Group by 17,458.4% in the fourth quarter. IFP Advisors Inc now owns 73,921 shares of the financial services provider's stock valued at $5,043,000 after buying an additional 73,500 shares in the last quarter. Weiss Asset Management LP acquired a new position in Zillow Group during the first quarter worth $1,743,000. Finally, Coronation Fund Managers Ltd. grew its holdings in Zillow Group by 130.6% during the first quarter. Coronation Fund Managers Ltd. now owns 349,503 shares of the financial services provider's stock worth $14,462,000 after acquiring an additional 197,948 shares during the period. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on Z shares. Weiss Ratings cut Zillow Group from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Zillow Group from $84.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, May 7th. Royal Bank Of Canada lowered their price objective on shares of Zillow Group from $95.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 10th. Jefferies Financial Group dropped their target price on shares of Zillow Group from $75.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Zillow Group from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of "Moderate Buy" and a consensus price target of $72.38.

Zillow Group Price Performance

Shares of NASDAQ Z opened at $34.06 on Monday. The stock's 50 day moving average price is $33.13 and its two-hundred day moving average price is $42.52. Zillow Group, Inc. has a 52-week low of $29.23 and a 52-week high of $93.88. The stock has a market capitalization of $7.79 billion, a P/E ratio of 136.24, a PEG ratio of 1.46 and a beta of 1.98.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $708.00 million for the quarter, compared to analysts' expectations of $705.10 million. On average, analysts anticipate that Zillow Group, Inc. will post 0.9 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 2,939 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total value of $111,593.83. Following the completion of the sale, the insider directly owned 134,039 shares of the company's stock, valued at $5,089,460.83. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Bradley D. Owens sold 3,364 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $37.23, for a total value of $125,241.72. Following the sale, the general counsel directly owned 65,245 shares of the company's stock, valued at $2,429,071.35. The trade was a 4.90% decrease in their position. The SEC filing for this sale provides additional information. 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 42,910 shares of company stock worth $1,605,732 over the last 90 days. 23.76% of the stock is currently owned by insiders.

About Zillow Group

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.

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