Robeco Institutional Asset Management B.V. Buys 178,118 Shares of Zillow Group, Inc. $Z

Key Points

• Robeco Institutional Asset Management boosted its Zillow stake by 76.4%, buying 178,118 shares in Q4 to hold 411,197 shares worth about $28.05 million (≈0.17% of the company).
• Institutional ownership is high at 71.01%, but insiders have been selling — a total of 60,801 shares in the last 90 days (including sales by the CFO and general counsel), leaving insiders with about 25.03% ownership.
• Analysts are mixed with a consensus Hold rating and a price target of $90.60; Zillow recently missed Q4 EPS ($0.39 vs. $0.42) and trades at a market cap near $9.71 billion with a very high P/E (~450).

Robeco Institutional Asset Management B.V. raised its stake in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 76.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 411,197 shares of the financial services provider's stock after purchasing an additional 178,118 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.17% of Zillow Group worth $28,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in Z. Scge Management L.P. bought a new position in shares of Zillow Group during the third quarter valued at approximately $133,990,000. Soma Equity Partners LP raised its holdings 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 valued at $113,147,000 after acquiring an additional 1,168,492 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Zillow Group during the second quarter valued at approximately $57,021,000. Capital World Investors raised its holdings in shares of Zillow Group by 7.8% during the third quarter. Capital World Investors now owns 10,635,008 shares of the financial services provider's stock valued at $819,427,000 after acquiring an additional 769,944 shares in the last quarter. Finally, Mane Global Capital Management LP raised its holdings in shares of Zillow Group by 8,626.2% during the third quarter. Mane Global Capital Management LP now owns 590,413 shares of the financial services provider's stock valued at $45,491,000 after acquiring an additional 583,647 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Insider Transactions at Zillow Group

In other news, CFO Jeremy Hofmann sold 7,786 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total value of $340,481.78. Following the sale, the chief financial officer directly owned 57,487 shares of the company's stock, valued at approximately $2,513,906.51. This represents a 11.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Bradley D. Owens sold 2,602 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $44.42, for a total value of $115,580.84. Following the completion of the sale, the general counsel directly owned 33,355 shares in the company, valued at approximately $1,481,629.10. This represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 60,801 shares of company stock valued at $2,683,986. 25.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Z has been the subject of a number of recent analyst reports. Barclays upgraded Zillow Group from a "strong sell" rating to a "hold" rating in a report on Thursday, January 29th. Mizuho cut Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 8th. Keefe, Bruyette & Woods reduced their price target on 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 11th. Finally, Zelman & Associates raised Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. Two equities research 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $90.60.

Zillow Group Stock Up 1.6%

Shares of Z stock opened at $40.49 on Tuesday. The stock has a market cap of $9.71 billion, a price-to-earnings ratio of 449.94, a PEG ratio of 1.96 and a beta of 2.14. The business's fifty day moving average is $44.93 and its 200 day moving average is $62.01. Zillow Group, Inc. has a twelve month low of $39.05 and a twelve month high of $93.88.

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

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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