Zillow Group, Inc. $Z Shares Sold by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd trimmed its Zillow stake by 1.6% in Q4 (sold 75,278 shares), leaving 4,750,009 shares — about 1.96% of the company valued at $324 million; institutional investors collectively own 71.01% of Zillow.
• Insider selling has been notable: CEO Jeremy Wacksman sold 13,661 shares and CTO David Beitel sold 3,966, with insiders selling 60,801 shares (~$2.68M) in the last 90 days while still holding 25.03% of the stock.
• Analysts' consensus is a Hold with an average price target of $90.60 (well above the current $46.86); Zillow missed Q4 EPS ($0.39 vs. $0.42 expected) and the stock trades at an elevated P/E of ~520.7.

Ninety One UK Ltd lessened its position in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 1.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,750,009 shares of the financial services provider's stock after selling 75,278 shares during the quarter. Ninety One UK Ltd owned approximately 1.96% of Zillow Group worth $324,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Scge Management L.P. purchased a new stake in Zillow Group during the 3rd quarter worth about $133,990,000. Soma Equity Partners LP increased its position in Zillow Group by 389.5% during the 3rd 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. Holocene Advisors LP purchased a new stake in Zillow Group during the 2nd quarter worth about $57,021,000. Capital World Investors increased its position in Zillow Group by 7.8% during the 3rd quarter. Capital World Investors now owns 10,635,008 shares of the financial services provider's stock worth $819,427,000 after purchasing an additional 769,944 shares in the last quarter. Finally, Mane Global Capital Management LP increased its position in Zillow Group by 8,626.2% during the 3rd quarter. Mane Global Capital Management LP now owns 590,413 shares of the financial services provider's stock worth $45,491,000 after purchasing an additional 583,647 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on Z shares. Zelman & Associates upgraded Zillow Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 12th. Barclays upgraded Zillow Group from a "strong sell" rating to a "hold" rating in a research report on Thursday, January 29th. Keefe, Bruyette & Woods dropped their price objective on Zillow Group from $80.00 to $65.00 and set a "market perform" rating for the company in a research report on Monday, February 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Zillow Group in a report on Wednesday, January 21st. Finally, Mizuho cut Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Zillow Group has an average rating of "Hold" and an average target price of $90.60.

Zillow Group Stock Performance

Shares of NASDAQ:Z opened at $46.86 on Friday. Zillow Group, Inc. has a 1 year low of $39.05 and a 1 year high of $93.88. The stock has a market capitalization of $11.24 billion, a P/E ratio of 520.72, a PEG ratio of 2.16 and a beta of 2.14. The stock has a 50-day simple moving average of $43.95 and a 200-day simple moving average of $61.26.

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

Insider Buying and Selling at Zillow Group

In other news, CEO Jeremy Wacksman sold 13,661 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $44.25, for a total transaction of $604,499.25. Following the completion of the sale, the chief executive officer owned 116,322 shares in the company, valued at approximately $5,147,248.50. The trade was a 10.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David A. Beitel sold 3,966 shares of the business's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $44.22, for a total value of $175,376.52. Following the transaction, the chief technology officer directly owned 136,690 shares in the company, valued at $6,044,431.80. This trade represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 60,801 shares of company stock worth $2,683,986. Company insiders own 25.03% of the company's stock.

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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