Jain Global LLC Makes New Investment in Zillow Group, Inc. $Z

Key Points

• Jain Global LLC acquired a new stake of 80,724 shares in Zillow Group during the third quarter, valued at approximately $6.22 million.
• Company insiders have sold a total of 60,801 shares (about $2.68 million) in the past 90 days, including CEO Jeremy Wacksman selling 13,661 shares and Errol G. Samuelson selling 7,015 shares.
• Zillow shares opened near $42.36 (50‑day MA $54.90, 200‑day MA $68.07) after reporting quarterly EPS of $0.39 (miss vs. $0.42), and analysts show an average rating of Hold with a $90.60 target price.

Jain Global LLC acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 80,724 shares of the financial services provider's stock, valued at approximately $6,220,000.

Other hedge funds have also made changes to their positions in the company. Root Financial Partners LLC bought a new position in Zillow Group during the third quarter valued at about $27,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Zillow Group in the 3rd quarter worth approximately $29,000. Cullen Frost Bankers Inc. lifted its position in shares of Zillow Group by 58.6% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider's stock worth $34,000 after acquiring an additional 163 shares during the period. SBI Securities Co. Ltd. grew its holdings in shares of Zillow Group by 58.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider's stock worth $35,000 after purchasing an additional 185 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its holdings in shares of Zillow Group by 32.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider's stock worth $42,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $42.36 on Tuesday. The business's fifty day moving average price is $54.90 and its two-hundred day moving average price is $68.07. Zillow Group, Inc. has a fifty-two week low of $41.13 and a fifty-two week high of $93.88. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 470.72, a price-to-earnings-growth ratio of 2.40 and a beta of 2.10.

Zillow Group (NASDAQ:Z - Get Free Report) last issued its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.03). Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The company had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. Research analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity

In other Zillow Group news, CEO Jeremy Wacksman sold 13,661 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the transaction, the chief executive officer directly owned 116,322 shares in the company, valued at $5,147,248.50. The trade was a 10.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Errol G. Samuelson sold 7,015 shares of the company's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $44.21, for a total transaction of $310,133.15. Following the sale, the insider directly owned 113,800 shares in the company, valued at $5,031,098. This represents a 5.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,801 shares of company stock worth $2,683,986 over the last ninety days. Corporate insiders own 23.76% of the company's stock.

Analyst Ratings Changes

Z has been the subject of a number of recent research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Zillow Group in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods decreased their price target on shares of Zillow Group from $80.00 to $65.00 and set a "market perform" rating on the stock in a research note on Monday, February 9th. Barclays raised shares of Zillow Group from a "strong sell" rating to a "hold" rating in a report on Thursday, January 29th. Zelman & Associates raised shares of Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Finally, Mizuho lowered shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average 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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