Swiss National Bank Has $20.35 Million Position in Zillow Group, Inc. $Z

Key Points

• Swiss National Bank increased its Zillow Group stake by 7.2% in the first quarter, ending with 491,834 shares valued at about $20.35 million.
• Zillow reported stronger-than-expected Q1 earnings, posting EPS of $0.53 versus the $0.43 consensus and revenue of $708 million, slightly above estimates.
• Analyst sentiment remains mixed but constructive: the stock has a “Moderate Buy” average rating, though several firms have recently cut price targets, with the average target now at $72.38.

Swiss National Bank raised its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 491,834 shares of the financial services provider's stock after purchasing an additional 33,200 shares during the quarter. Swiss National Bank owned 0.20% of Zillow Group worth $20,352,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Independent Franchise Partners LLP boosted its position in Zillow Group by 0.9% in the fourth quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider's stock valued at $747,241,000 after buying an additional 94,569 shares in the last quarter. Capital World Investors increased its holdings in shares of Zillow Group by 1.8% during the fourth quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider's stock worth $738,554,000 after buying an additional 191,058 shares in the last quarter. Tiger Global Management LLC lifted its stake in shares of Zillow Group by 20.1% in the 4th quarter. Tiger Global Management LLC now owns 6,056,957 shares of the financial services provider's stock valued at $413,206,000 after acquiring an additional 1,011,813 shares during the last quarter. State Street Corp lifted its stake in shares of Zillow Group by 3.9% in the 4th quarter. State Street Corp now owns 3,838,788 shares of the financial services provider's stock valued at $261,882,000 after acquiring an additional 143,726 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Zillow Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,363,657 shares of the financial services provider's stock valued at $228,898,000 after acquiring an additional 55,323 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Insiders Place Their Bets

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,364 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $37.23, for a total transaction of $125,241.72. Following the completion of the transaction, the general counsel directly owned 65,245 shares of the company's stock, valued at approximately $2,429,071.35. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Zillow Group stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the completion of the sale, the insider directly owned 49,696 shares of the company's stock, valued at approximately $1,858,630.40. This trade represents a 5.83% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 42,910 shares of company stock valued at $1,605,732. 25.03% of the stock is currently owned by insiders.

Zillow Group Trading Up 4.0%

Shares of NASDAQ Z opened at $30.76 on Friday. The firm has a market capitalization of $7.04 billion, a P/E ratio of 123.04, a P/E/G ratio of 1.26 and a beta of 1.98. The firm's 50-day moving average price is $33.44 and its 200-day moving average price is $43.91. Zillow Group, Inc. has a 1-year low of $29.23 and a 1-year high of $93.88.

Zillow Group (NASDAQ:Z - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to analysts' expectations of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. Equities research analysts forecast that Zillow Group, Inc. will post 0.9 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on Z shares. Wall Street Zen upgraded shares of Zillow Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. UBS Group cut their price target on shares of Zillow Group from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. 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. Jefferies Financial Group lowered their target price on Zillow Group from $75.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods cut their target price on Zillow Group from $50.00 to $37.00 and set a "market perform" rating on the stock in a report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given 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 an average price target of $72.38.

Key Headlines Impacting Zillow Group

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

• Negative Sentiment: Zillow faces renewed legal overhang after Bleichmar Fonti & Auld said a class action was filed over alleged securities fraud linked to its anticompetitive agreement, adding pressure from potential regulatory and litigation risks. Article: Zillow Sued for Fraud Over Misrepresentations about its Anticompetitive Agreement
• Negative Sentiment: Several law firms, including ClaimsFiler, Kahn Swick & Foti, Rosen, Faruqi & Faruqi, and Pomerantz, issued investor alerts urging shareholders who bought Zillow shares during the class period to seek counsel or pursue lead-plaintiff status, keeping the litigation story in focus. Article: Zillow Shareholder Alert: ClaimsFiler Reminds Investors...
• Neutral Sentiment: Short-interest data showed no meaningful change, so it does not appear to be a driver of the stock move.
• Neutral Sentiment: Zillow’s rent report noted U.S. asking rents rose 2.2% year over year in June, while concessions remained elevated; this is informative for the housing backdrop but not a direct catalyst for the shares. Article: Rent is ticking up, but so are the deals

Zillow Group 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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