Emmett Investment Management LP Acquires 75,036 Shares of Zillow Group, Inc. $Z

Emmett Investment Management LP increased its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 353.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,236 shares of the financial services provider's stock after acquiring an additional 75,036 shares during the period. Zillow Group comprises 3.0% of Emmett Investment Management LP's investment portfolio, making the stock its 18th biggest holding. Emmett Investment Management LP's holdings in Zillow Group were worth $3,897,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in Z. V Square Quantitative Management LLC purchased a new position in shares of Zillow Group during the fourth quarter valued at approximately $28,000. Flagship Harbor Advisors LLC bought a new position in shares of Zillow Group in the fourth quarter valued at approximately $43,000. Leonteq Securities AG increased its position in shares of Zillow Group by 627.0% during the first quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 1,160 shares during the last quarter. IFC & Insurance Marketing Inc. purchased a new stake in shares of Zillow Group during the fourth quarter valued at approximately $68,000. Finally, SBI Okasan Asset Management Co.Ltd. bought a new stake in Zillow Group during the fourth quarter worth $71,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Insider Buying and Selling at Zillow Group

In related news, CFO Jeremy Hofmann sold 5,501 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $37.40, for a total transaction of $205,737.40. Following the completion of the transaction, the chief financial officer owned 68,315 shares of the company's stock, valued at approximately $2,554,981. The trade was a 7.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, insider Errol G. Samuelson sold 2,939 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total transaction of $111,593.83. Following the transaction, the insider owned 134,039 shares of the company's stock, valued at $5,089,460.83. This trade represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 42,910 shares of company stock worth $1,605,732. 23.76% of the stock is owned by corporate insiders.

Zillow Group Trading Up 4.0%

Z opened at $32.00 on Tuesday. Zillow Group, Inc. has a 12 month low of $29.23 and a 12 month high of $93.88. The company has a market cap of $7.32 billion, a PE ratio of 128.00, a price-to-earnings-growth ratio of 1.32 and a beta of 1.98. The company has a 50 day moving average of $33.34 and a 200 day moving average of $43.51.

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, topping the consensus estimate of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. Research analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group cut their price objective on Zillow Group from $75.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft lowered their target price on Zillow Group from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. cut their price target on shares of Zillow Group from $84.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Weiss Ratings lowered shares of Zillow Group from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, May 22nd. Finally, UBS Group dropped their target price on shares of Zillow Group from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.38.

Zillow Group Company 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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