Swiss National Bank Raises Stock Holdings in Zillow Group, Inc. $Z

Swiss National Bank grew its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 7.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 491,834 shares of the financial services provider’s stock after buying an additional 33,200 shares during the period. Swiss National Bank’s holdings in Zillow Group were worth $20,352,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. increased its position in shares of Zillow Group by 11.4% during the 4th quarter. Baillie Gifford & Co. now owns 739,270 shares of the financial services provider’s stock valued at $50,433,000 after purchasing an additional 75,682 shares during the last quarter. SG Americas Securities LLC lifted its position in Zillow Group by 472.1% in the 4th quarter. SG Americas Securities LLC now owns 245,205 shares of the financial services provider’s stock worth $16,728,000 after buying an additional 202,343 shares during the last quarter. IFP Advisors Inc boosted its stake in Zillow Group by 17,458.4% in the fourth quarter. IFP Advisors Inc now owns 73,921 shares of the financial services provider’s stock worth $5,043,000 after buying an additional 73,500 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Zillow Group by 76.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 411,197 shares of the financial services provider’s stock valued at $28,052,000 after acquiring an additional 178,118 shares during the last quarter. Finally, Private Advisory Group LLC grew its position in Zillow Group by 28.0% during the fourth quarter. Private Advisory Group LLC now owns 153,088 shares of the financial services provider’s stock valued at $10,444,000 after acquiring an additional 33,451 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Insider Activity

In other Zillow Group news, insider Errol G. Samuelson sold 2,939 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total transaction of $111,593.83. Following the completion of the sale, the insider directly owned 134,039 shares in the company, valued at approximately $5,089,460.83. The trade was a 2.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,501 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $205,737.40. Following the transaction, the chief financial officer directly owned 68,315 shares in the company, valued at $2,554,981. The trade was a 7.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders sold 42,910 shares of company stock valued at $1,605,732. Corporate insiders own 25.03% of the company’s stock.

Zillow Group News Roundup

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

Analyst Upgrades and Downgrades

Z has been the subject of several recent research reports. Weiss Ratings downgraded shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Royal Bank Of Canada reduced their price objective on Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 10th. UBS Group lowered their target price on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. JPMorgan Chase & Co. decreased their price target on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.38.

Zillow Group Stock Performance

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 stock has a 50 day moving average price of $33.44 and a 200-day moving average price of $43.91. Zillow Group, Inc. has a 52-week low of $29.23 and a 52-week high of $93.88.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The business had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.10 million. On average, equities analysts forecast that Zillow Group, Inc. will post 0.9 EPS 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.