Transmarket Holdings LP Acquires 91,984 Shares of Zillow Group, Inc. $Z

Key Points

• Transmarket Holdings LP acquired 91,984 Zillow Group shares worth approximately $2.5 million, while other institutional investors also increased their positions. Institutional investors own 71.01% of the company.
• Zillow shares opened at $30.77 and have declined 4.0%, trading well below their 12-month high of $77.07. The company’s latest quarterly results exceeded expectations, with $0.52 in EPS and $772 million in revenue.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $57.71 price target. Recent analyst actions included multiple target-price cuts, despite some firms maintaining Buy or Overweight ratings.

Transmarket Holdings LP acquired a new position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 91,984 shares of the financial services provider's stock, valued at approximately $2,496,000. Zillow Group comprises about 1.4% of Transmarket Holdings LP's holdings, making the stock its 17th largest position.

Several other large investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Zillow Group by 106.8% during the first quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider's stock worth $1,718,000 after acquiring an additional 21,439 shares during the last quarter. Tiger Global Management LLC raised its holdings in shares of Zillow Group by 21.7% in the 1st 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 period. Emmett Investment Management LP raised its holdings in shares of Zillow Group by 353.9% in the 1st quarter. Emmett Investment Management LP now owns 96,236 shares of the financial services provider's stock worth $3,897,000 after purchasing an additional 75,036 shares during the period. Weiss Asset Management LP acquired a new position in shares of Zillow Group in the 1st quarter valued at about $1,743,000. Finally, Coronation Fund Managers Ltd. lifted its stake in shares of Zillow Group by 130.6% in the 1st quarter. Coronation Fund Managers Ltd. now owns 349,503 shares of the financial services provider's stock valued at $14,462,000 after purchasing an additional 197,948 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zillow Group

In related news, Director Claire Cormier Thielke sold 1,187 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $42,387.77. Following the transaction, the director directly owned 2,375 shares of the company's stock, valued at approximately $84,811.25. The trade was a 33.32% decrease in their position. The transaction 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, CEO Jeremy Wacksman sold 9,339 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $319,207.02. Following the transaction, the chief executive officer directly owned 138,574 shares in the company, valued at $4,736,459.32. This trade represents a 6.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 quarter, insiders sold 38,539 shares of company stock worth $1,323,800. Insiders own 23.76% of the company's stock.

Zillow Group Trading Down 4.0%

Shares of NASDAQ Z opened at $30.77 on Thursday. The stock has a fifty day moving average price of $31.46 and a 200 day moving average price of $39.54. Zillow Group, Inc. has a 12-month low of $26.67 and a 12-month high of $77.07. The company has a market cap of $6.92 billion, a P/E ratio of 139.87, a P/E/G ratio of 1.41 and a beta of 2.04.

Zillow Group (NASDAQ:Z - Get Free Report) last issued its quarterly earnings data 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 2.32% and a net margin of 1.96%. The company had revenue of $772.00 million for the quarter, compared to analysts' expectations of $758.10 million. On average, sell-side analysts forecast that Zillow Group, Inc. will post 0.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Z has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their target price on Zillow Group from $37.00 to $34.00 and set a "market perform" rating for the company in a report on Friday, August 7th. Morgan Stanley cut their price target on shares of Zillow Group from $60.00 to $35.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 13th. JPMorgan Chase & Co. reduced their price target on shares of Zillow Group from $76.00 to $62.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 11th. Needham & Company LLC reiterated a "hold" rating on shares of Zillow Group in a research note on Friday, October 16th. Finally, Jefferies Financial Group decreased their price objective on shares of Zillow Group from $75.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Zillow Group currently has a consensus rating of "Hold" and a consensus price target of $57.71.

Zillow Group Profile

Zillow Group, Inc NASDAQ: Z operates a digital real estate marketplace in the United States. Its platforms help consumers search for homes, research neighborhoods and market conditions, connect with real estate professionals, and manage various steps in the home-buying, selling, renting and financing processes.

The company's portfolio includes Zillow, Trulia, StreetEasy and HotPads, which provide property listings and real estate information. Zillow Group also offers services for real estate professionals, including marketing, lead generation, transaction management and showing coordination through products such as Zillow Premier Agent and ShowingTime+.

Through Zillow Home Loans and other affiliated services, the company provides or facilitates mortgage and closing-related solutions.

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