Empowered Funds LLC Has $2.54 Million Stock Position in Zillow Group, Inc. $Z

Key Points

• Empowered Funds LLC increased its Zillow Group stake by 2,690.6% in the first quarter, reaching 61,421 shares valued at approximately $2.54 million. Institutional investors and hedge funds collectively own 71.01% of the company.
• Zillow Group reported quarterly earnings of $0.52 per share and revenue of $772 million, surpassing analyst estimates of $0.45 EPS and $758.1 million in revenue.
• Analysts remain broadly positive, with Zillow carrying a “Moderate Buy” consensus rating and an average price target of $72.38, despite several firms recently lowering their targets. The stock opened at $36.10, with a 52-week range of $29.23 to $93.88.

Empowered Funds LLC grew its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 2,690.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,421 shares of the financial services provider's stock after acquiring an additional 59,220 shares during the quarter. Empowered Funds LLC's holdings in Zillow Group were worth $2,542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in Zillow Group by 106.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider's stock valued at $1,718,000 after purchasing an additional 21,439 shares during the period. Quantinno Capital Management LP grew its position in shares of Zillow Group by 455.6% during the 1st quarter. Quantinno Capital Management LP now owns 641,618 shares of the financial services provider's stock worth $26,550,000 after purchasing an additional 526,142 shares in the last quarter. SummitTX Capital L.P. increased its holdings in shares of Zillow Group by 226.9% during the first quarter. SummitTX Capital L.P. now owns 20,498 shares of the financial services provider's stock worth $848,000 after purchasing an additional 14,227 shares during the period. Weiss Asset Management LP bought a new position in shares of Zillow Group during the first quarter worth approximately $1,743,000. Finally, OMERS ADMINISTRATION Corp raised its position in shares of Zillow Group by 27.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 8,249 shares of the financial services provider's stock valued at $341,000 after buying an additional 1,801 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Down 0.5%

NASDAQ Z opened at $36.10 on Thursday. Zillow Group, Inc. has a twelve month low of $29.23 and a twelve month high of $93.88. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 144.40, a PEG ratio of 1.55 and a beta of 1.98. The stock has a fifty day simple moving average of $33.12 and a 200 day simple moving average of $41.84.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.10 million. Research analysts expect that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Key Headlines Impacting Zillow Group

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow reported adjusted earnings of $0.52 per share, above the $0.44–$0.45 analyst consensus and up from $0.40 a year earlier. Revenue of $772 million also exceeded estimates ranging from $758 million to $ D?

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Zillow Group from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Wall Street Zen raised Zillow Group from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. JPMorgan Chase & Co. cut their target price on Zillow Group from $84.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. UBS Group reduced their target price on Zillow Group from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. Finally, Jefferies Financial Group decreased their price target 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. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Zillow Group currently has an average rating of "Moderate Buy" and an average target price of $72.38.

Insider Buying and Selling

In related news, General Counsel Bradley D. Owens sold 3,364 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $37.23, for a total transaction of $125,241.72. Following the transaction, the general counsel owned 65,245 shares in the company, valued at $2,429,071.35. The trade was a 4.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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, CFO Jeremy Hofmann sold 5,501 shares of Zillow Group stock in a transaction 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 sale, the chief financial officer directly owned 68,315 shares of the company's stock, valued at approximately $2,554,981. This trade represents a 7.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 42,910 shares of company stock worth $1,605,732 over the last three months. Insiders own 25.03% of the company's stock.

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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