Mirador Capital Partners LP Sells 70,474 Shares of Zillow Group, Inc. $Z

Key Points

• Mirador Capital Partners cut its Zillow position by 89.8% in the second quarter, selling 70,474 shares and retaining 8,005 shares valued at approximately $252,000.
• Zillow exceeded second-quarter estimates with adjusted EPS of $0.52 and revenue of $772 million, up 18% year over year. However, the company issued weaker-than-expected guidance, reported a $4 million net loss after restructuring costs, and plans to eliminate more than 500 jobs.
• Investor sentiment remains mixed: 71.01% of shares are held by institutions, while several analysts reduced price targets and Zacks downgraded the stock to “hold.” Zillow shares opened at $33.43, well below their 52-week high of $93.88.

Mirador Capital Partners LP cut its position in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 89.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,005 shares of the financial services provider's stock after selling 70,474 shares during the quarter. Mirador Capital Partners LP's holdings in Zillow Group were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of Z. M&T Bank Corp bought a new position in shares of Zillow Group during the 4th quarter worth approximately $196,677,000. Scge Management L.P. acquired a new stake in Zillow Group in the third quarter valued at approximately $133,990,000. L1 Capital Pty Ltd grew its holdings in Zillow Group by 24,803.7% in the fourth quarter. L1 Capital Pty Ltd now owns 1,729,313 shares of the financial services provider's stock worth $117,974,000 after purchasing an additional 1,722,369 shares during the last quarter. Tiger Global Management LLC grew its holdings in Zillow Group by 21.7% in the first quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider's stock worth $304,927,000 after purchasing an additional 1,312,000 shares during the last quarter. Finally, Soma Equity Partners LP increased its position in shares of Zillow Group by 389.5% during the third quarter. Soma Equity Partners LP now owns 1,468,492 shares of the financial services provider's stock worth $113,147,000 after purchasing an additional 1,168,492 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Zillow Group

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

• Positive Sentiment: Second-quarter results exceeded estimates. Zillow reported adjusted EPS of $0.52 versus the $0.45 consensus and revenue of $772 million versus expectations of $758.1 million. Revenue increased 18% year over year, providing evidence of continued demand for the company’s services. Zillow Surpasses Q2 Earnings and Revenue Estimates
• Neutral Sentiment: Management is reshaping its leadership structure. CFO Jeremy Hofmann will also become chief operating officer, while Cassandra Knight becomes Zillow’s first chief legal and policy officer. The changes could improve execution, but they also highlight a period of significant organizational change. Zillow Strengthens Executive Leadership Team
• Negative Sentiment: Forward guidance came in below analyst expectations. Zillow forecast third-quarter revenue of $745 million to $760 million, below the $772.3 million consensus, and full-year revenue of $2.9 billion to $3.0 billion, roughly below or at the low end of the $3.0 billion estimate. The soft outlook drove after-hours selling. Zillow Stock Slides on Soft Outlook
• Negative Sentiment: Restructuring costs pushed Zillow to a loss. The company posted a $4 million net loss despite higher revenue, as $36 million in restructuring expenses weighed on results. Zillow also plans to eliminate just over 500 jobs, or about 7% of its workforce, underscoring management’s concern about a flat housing market. Zillow Layoffs Amid Flat Housing Market
• Negative Sentiment: Housing indicators point to a slower second half. July home sales rose 7% year over year, but sharply lower newly pending sales and higher mortgage rates suggest the improvement may not persist. Zacks also downgraded Zillow from “strong buy” to “hold.” Zillow July Market Report
• Negative Sentiment: Several law firms are promoting a securities-fraud class action involving investors who purchased Zillow shares between February 11, 2025 and May 7, 2026. The August 10 lead-plaintiff deadline adds reputational and potential legal-risk overhang, although the allegations have not been proven. Zillow Securities Class Action Deadline

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Keefe, Bruyette & Woods decreased their price objective on Zillow Group from $50.00 to $37.00 and set a "market perform" rating for the company in a report on Monday, July 13th. Weiss Ratings lowered Zillow Group from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, May 22nd. Zacks Research cut Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Jefferies Financial Group dropped their price target on Zillow Group from $75.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. cut their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Zillow Group presently has an average rating of "Moderate Buy" and a consensus target price of $68.88.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CEO Jeremy Wacksman sold 9,072 shares of Zillow Group stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the sale, the chief executive officer directly owned 153,699 shares in the company, valued at approximately $5,616,161.46. The trade was a 5.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erik C. Blachford sold 791 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $34.80, for a total transaction of $27,526.80. Following the completion of the sale, the director owned 34,952 shares in the company, valued at $1,216,329.60. The trade was a 2.21% decrease in their position. 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. In the last 90 days, insiders sold 42,910 shares of company stock worth $1,605,732. Corporate insiders own 25.03% of the company's stock.

Zillow Group Stock Performance

Shares of Z stock opened at $33.43 on Friday. Zillow Group, Inc. has a fifty-two week low of $29.23 and a fifty-two week high of $93.88. The firm has a market capitalization of $7.65 billion, a PE ratio of 151.96, a P/E/G ratio of 1.54 and a beta of 1.98. The stock's 50-day simple moving average is $33.08 and its 200-day simple moving average is $41.59.

Zillow Group (NASDAQ:Z - Get Free Report) last released its earnings results 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 2.27% and a net margin of 1.96%.The firm had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. Sell-side analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

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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