Engineers Gate Manager LP Takes $4.68 Million Position in Zillow Group, Inc. $Z

Key Points

• Engineers Gate Manager LP initiated a Zillow Group position worth approximately $4.68 million, purchasing 148,348 shares in the second quarter. Institutional investors and hedge funds collectively own 71.01% of the company.
• Zillow insiders sold shares totaling $1.32 million over the past quarter, though the reported transactions were intended to cover tax withholding obligations tied to vested equity awards.
• Analysts remain moderately bullish, with a consensus “Moderate Buy” rating and an average price target of $66.75, despite several recent target reductions. Zillow’s latest quarterly results exceeded expectations, with EPS of $0.52 versus a $0.45 estimate and revenue of $772 million.

Engineers Gate Manager LP purchased a new position in Zillow Group, Inc. (NASDAQ:Z - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 148,348 shares of the financial services provider's stock, valued at approximately $4,676,000. Engineers Gate Manager LP owned approximately 0.07% of Zillow Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of Z. Empowered Funds LLC boosted its position in Zillow Group by 4.7% during the 1st quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider's stock valued at $262,000 after purchasing an additional 171 shares during the period. CIBC Asset Management Inc increased its stake in Zillow Group by 3.0% during the 4th quarter. CIBC Asset Management Inc now owns 7,550 shares of the financial services provider's stock valued at $515,000 after buying an additional 220 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Zillow Group by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,410 shares of the financial services provider's stock worth $4,269,000 after acquiring an additional 259 shares during the period. Motley Fool Asset Management LLC lifted its stake in shares of Zillow Group by 7.2% in the 4th quarter. Motley Fool Asset Management LLC now owns 4,194 shares of the financial services provider's stock worth $286,000 after acquiring an additional 281 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Zillow Group by 34.5% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider's stock valued at $80,000 after acquiring an additional 300 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zillow Group

In other news, insider Errol G. Samuelson sold 3,154 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $107,992.96. Following the completion of the sale, the insider owned 130,885 shares in the company, valued at approximately $4,481,502.40. This represents a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,169 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the sale, the insider directly owned 44,561 shares of the company's stock, valued at $1,576,122.57. The trade was a 6.64% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 38,539 shares of company stock worth $1,323,800 over the last quarter. 25.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Z has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of Zillow Group from $37.00 to $34.00 and set a "market perform" rating on the stock in a research note on Friday, August 7th. JPMorgan Chase & Co. decreased their price target on Zillow Group from $76.00 to $62.00 and set an "overweight" rating for the company in a research note on Tuesday, August 11th. Jefferies Financial Group lowered 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. Wall Street Zen downgraded Zillow Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Royal Bank Of Canada cut their price target on shares of Zillow Group from $95.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $66.75.

Zillow Group Price Performance

NASDAQ:Z opened at $32.50 on Friday. The stock has a market cap of $7.31 billion, a PE ratio of 147.73, a price-to-earnings-growth ratio of 1.41 and a beta of 2.00. The stock's 50-day moving average is $33.83 and its two-hundred day moving average is $37.65. Zillow Group, Inc. has a fifty-two week low of $29.23 and a fifty-two week high of $93.88.

Zillow Group (NASDAQ:Z - Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. The company had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. On average, equities research analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Zillow Group Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms designed to help consumers discover, buy, sell, rent and finance homes. Its websites and mobile applications provide property listings, home values, market data, search tools and connections to real estate professionals.

The company's portfolio includes Zillow, Trulia, StreetEasy and HotPads, which serve residential real estate consumers and professionals across the United States.

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