Capital World Investors Grows Holdings in Zillow Group, Inc. $Z

Key Points

• Capital World Investors increased its stake in Zillow by 7.8% to 10,635,008 shares, representing about a 4.39% ownership worth roughly $819.4 million at the end of the quarter.
• Insider selling has been notable: CEO Jeremy Wacksman sold 13,661 shares and Errol G. Samuelson sold 7,015 shares, with insiders offloading 60,801 shares in the past 90 days; insiders now own about 23.76% of the stock.
• Zillow shares trade near the mid-$40s (opened at $44.06) after a quarter where EPS missed estimates ($0.39 vs. $0.42); the stock has a high P/E (~489.6), a market cap of ~$10.6B, and an average analyst rating of “Hold” with a $90.60 average price target.

Capital World Investors lifted its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 7.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,635,008 shares of the financial services provider's stock after buying an additional 769,944 shares during the period. Capital World Investors owned approximately 4.39% of Zillow Group worth $819,427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Root Financial Partners LLC bought a new stake in Zillow Group in the third quarter worth about $27,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Zillow Group during the 3rd quarter valued at approximately $29,000. Cullen Frost Bankers Inc. increased its stake in shares of Zillow Group by 58.6% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider's stock worth $34,000 after purchasing an additional 163 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Zillow Group by 58.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider's stock worth $35,000 after purchasing an additional 185 shares during the last quarter. Finally, Pittenger & Anderson Inc. raised its holdings in shares of Zillow Group by 32.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider's stock worth $42,000 after purchasing an additional 135 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 7,015 shares of Zillow Group stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $44.21, for a total value of $310,133.15. Following the completion of the sale, the insider owned 113,800 shares of the company's stock, valued at approximately $5,031,098. This trade represents a 5.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Wacksman sold 13,661 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total transaction of $604,499.25. Following the transaction, the chief executive officer directly owned 116,322 shares of the company's stock, valued at $5,147,248.50. The trade was a 10.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 60,801 shares of company stock valued at $2,683,986. 23.76% of the stock is currently owned by company insiders.

Zillow Group Stock Down 2.6%

NASDAQ Z opened at $44.06 on Wednesday. The company has a 50-day simple moving average of $56.84 and a two-hundred day simple moving average of $69.27. Zillow Group, Inc. has a 12-month low of $41.91 and a 12-month high of $93.88. The firm has a market cap of $10.57 billion, a price-to-earnings ratio of 489.61, a PEG ratio of 2.53 and a beta of 2.10.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its 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%. Equities analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on Z shares. Zelman & Associates raised Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Zillow Group in a research report on Wednesday, February 11th. Barclays upgraded Zillow Group from a "strong sell" rating to a "hold" rating in a research note on Thursday, January 29th. Weiss Ratings restated a "sell (d-)" rating on shares of Zillow Group in a research note on Wednesday, January 21st. Finally, Mizuho downgraded shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $90.60.

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.

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