Coronation Fund Managers Ltd. Has $10.34 Million Stake in Zillow Group, Inc. $Z

Key Points

• Coronation Fund Managers trimmed its stake in Zillow by 35.6%, selling 83,893 shares and leaving a holding of 151,555 shares valued at about $10.34 million.
• Other institutional moves include Greencape increasing to 2.72 million shares and M&T Bank adding a new stake (~$196.7 million); overall institutional ownership is 71.01% while insiders sold 60,801 shares (~$2.68M) last quarter.
• Zillow shares trade near $45.41 after a quarterly EPS miss ($0.39 vs. $0.42), carry an elevated PE (~505), and the analyst consensus is a "Hold" with an average target price of $90.60.

Coronation Fund Managers Ltd. trimmed its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 35.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,555 shares of the financial services provider's stock after selling 83,893 shares during the period. Coronation Fund Managers Ltd. owned 0.06% of Zillow Group worth $10,339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. AG increased its stake in shares of Zillow Group by 6.9% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 3,923 shares of the financial services provider's stock valued at $268,000 after buying an additional 252 shares during the period. Greencape Capital Pty Ltd increased its stake in shares of Zillow Group by 30.4% in the 4th quarter. Greencape Capital Pty Ltd now owns 2,722,911 shares of the financial services provider's stock valued at $185,757,000 after buying an additional 634,510 shares during the period. M&T Bank Corp acquired a new stake in shares of Zillow Group in the 4th quarter valued at $196,677,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Zillow Group by 10.1% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,911 shares of the financial services provider's stock valued at $4,163,000 after buying an additional 5,576 shares during the period. Finally, Optas LLC increased its stake in shares of Zillow Group by 128.6% in the 4th quarter. Optas LLC now owns 14,299 shares of the financial services provider's stock valued at $975,000 after buying an additional 8,044 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Zillow Group Stock Up 2.0%

Shares of Zillow Group stock opened at $45.41 on Friday. Zillow Group, Inc. has a 12 month low of $39.05 and a 12 month high of $93.88. The business has a fifty day simple moving average of $43.70 and a 200 day simple moving average of $60.24. The stock has a market cap of $10.90 billion, a PE ratio of 504.61, a price-to-earnings-growth ratio of 2.19 and a beta of 2.14.

Zillow Group (NASDAQ:Z - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.03). Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The company had revenue of $654.00 million for the quarter, compared to analyst estimates of $650.40 million. Analysts expect that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, CEO Jeremy Wacksman sold 13,661 shares of Zillow Group stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $44.25, for a total transaction of $604,499.25. Following the completion of the sale, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Bradley D. Owens sold 2,602 shares of Zillow Group stock in a transaction on Friday, February 13th. The stock was sold at an average price of $44.42, for a total value of $115,580.84. Following the sale, the general counsel directly owned 33,355 shares of the company's stock, valued at approximately $1,481,629.10. This trade represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 60,801 shares of company stock valued at $2,683,986 over the last quarter. 25.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their target price on 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. Barclays raised Zillow Group from a "strong sell" rating to a "hold" rating in a research note on Thursday, January 29th. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Zillow Group in a research note on Wednesday, January 21st. Finally, Zelman & Associates raised Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $90.60.

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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