Geode Capital Management LLC Has $228.90 Million Position in Zillow Group, Inc. $Z

Key Points

• Geode Capital Management increased its Zillow Group stake by 1.7% in the fourth quarter, bringing its holdings to 3.36 million shares worth about $228.9 million.
• Zillow reported better-than-expected quarterly results, posting EPS of $0.53 versus the $0.43 estimate and revenue of $708 million, slightly ahead of forecasts.
• Analyst sentiment remains mixed but generally constructive: the stock has a Moderate Buy consensus rating with a $77 average price target, while several insiders recently sold shares under pre-arranged trading plans.

Geode Capital Management LLC boosted its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,363,657 shares of the financial services provider's stock after buying an additional 55,323 shares during the period. Geode Capital Management LLC owned approximately 1.39% of Zillow Group worth $228,898,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of Z. Lansforsakringar Fondforvaltning AB publ raised its position in shares of Zillow Group by 0.3% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 48,575 shares of the financial services provider's stock valued at $3,743,000 after acquiring an additional 144 shares during the period. Doliver Advisors LP boosted its stake in Zillow Group by 1.8% during the 4th quarter. Doliver Advisors LP now owns 9,687 shares of the financial services provider's stock worth $661,000 after acquiring an additional 171 shares during the last quarter. Empowered Funds LLC boosted its stake 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 worth $262,000 after acquiring an additional 171 shares during the last quarter. GAMMA Investing LLC boosted its stake in Zillow Group by 21.4% during the 4th quarter. GAMMA Investing LLC now owns 1,186 shares of the financial services provider's stock worth $81,000 after acquiring an additional 209 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its stake in Zillow Group by 6.9% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 3,923 shares of the financial services provider's stock worth $268,000 after acquiring an additional 252 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Performance

Shares of Z stock opened at $36.37 on Wednesday. The company has a market capitalization of $8.32 billion, a P/E ratio of 145.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.97. The company's 50 day moving average price is $41.12 and its two-hundred day moving average price is $54.24. Zillow Group, Inc. has a 52 week low of $34.64 and a 52 week high of $93.88.

Zillow Group (NASDAQ:Z - Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 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 net margin of 2.27% and a return on equity of 1.41%. Analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on Z. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 11th. Weiss Ratings lowered shares of Zillow Group from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, May 22nd. Zelman & Associates raised shares of Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Zillow Group from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Zillow Group from $60.00 to $50.00 and set a "market perform" rating on the stock in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $77.00.

Insider Activity

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,364 shares of the firm's stock in a transaction that occurred 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 sale, the general counsel directly owned 65,245 shares in the company, valued at approximately $2,429,071.35. This trade represents a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 Dan Spaulding sold 3,078 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20. Following the sale, the insider owned 49,696 shares in the company, valued at $1,858,630.40. This trade represents a 5.83% 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. In the last ninety days, insiders sold 42,119 shares of company stock worth $1,578,206. Corporate insiders own 23.76% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.