Zillow Group, Inc. $Z Shares Newly Bought by State of Wyoming

Key Points

• State of Wyoming acquired 62,914 Zillow Group shares in the third quarter, valued at approximately $1.7 million. Institutional investors now own 71.01% of the company.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $57.71; several firms recently downgraded the stock.
• Zillow’s latest quarterly results exceeded expectations, reporting $0.52 in EPS versus a $0.45 estimate and $772 million in revenue versus a $758.1 million forecast.

State of Wyoming acquired a new position in Zillow Group, Inc. (NASDAQ:Z - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 62,914 shares of the financial services provider's stock, valued at approximately $1,707,000.

Other hedge funds have also recently made changes to their positions in the company. Tiger Global Management LLC boosted its position in shares of Zillow Group by 21.7% during the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider's stock valued at $304,927,000 after purchasing an additional 1,312,000 shares in the last quarter. Quantinno Capital Management LP grew its stake in Zillow Group by 455.6% during the first quarter. Quantinno Capital Management LP now owns 641,618 shares of the financial services provider's stock worth $26,550,000 after purchasing an additional 526,142 shares during the period. Dimensional Fund Advisors LP grew its stake in Zillow Group by 21.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,896,206 shares of the financial services provider's stock worth $78,461,000 after purchasing an additional 338,803 shares during the period. Hsbc Holdings PLC increased its holdings in Zillow Group by 199.9% in the first quarter. Hsbc Holdings PLC now owns 439,222 shares of the financial services provider's stock worth $18,182,000 after purchasing an additional 292,760 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Zillow Group by 97.0% in the third quarter. IFP Advisors Inc now owns 469,184 shares of the financial services provider's stock worth $12,729,000 after purchasing an additional 231,002 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on Z. Sanford C. Bernstein cut Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Zillow Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Evercore lowered shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Jefferies Financial Group lowered 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. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Zillow Group in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $57.71.

Zillow Group Price Performance

Z stock opened at $30.96 on Friday. The company's 50-day moving average is $31.25 and its 200-day moving average is $39.17. The stock has a market capitalization of $6.96 billion, a PE ratio of 140.73, a price-to-earnings-growth ratio of 1.32 and a beta of 2.04. Zillow Group, Inc. has a 1 year low of $26.67 and a 1 year high of $77.07.

Zillow Group (NASDAQ:Z - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, beating 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 business had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. On average, analysts anticipate that Zillow Group, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other 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 completion of the sale, the director owned 2,375 shares in the company, valued at $84,811.25. The trade was a 33.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erik Blachford sold 792 shares of the company'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 value of $28,282.32. Following the transaction, the director directly owned 34,160 shares in the company, valued at $1,219,853.60. The trade was a 2.27% decrease in their ownership of the stock. 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 ninety days, insiders have sold 38,539 shares of company stock valued at $1,323,800. Company insiders own 25.03% of the company's stock.

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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