Quantinno Capital Management LP Boosts Holdings in Zillow Group, Inc. $Z

Quantinno Capital Management LP raised its position in Zillow Group, Inc. (NASDAQ:Z) by 455.6% in the 1st quarter, Holdings Channel reports. The firm owned 641,618 shares of the financial services provider’s stock after buying an additional 526,142 shares during the quarter. Quantinno Capital Management LP’s holdings in Zillow Group were worth $26,550,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. M&T Bank Corp bought a new position in shares of Zillow Group in the fourth quarter worth $196,677,000. Scge Management L.P. purchased a new stake in shares of Zillow Group in the third quarter worth $133,990,000. L1 Capital Pty Ltd boosted its stake in Zillow Group by 24,803.7% during the fourth quarter. L1 Capital Pty Ltd now owns 1,729,313 shares of the financial services provider’s stock valued at $117,974,000 after buying an additional 1,722,369 shares during the period. Tiger Global Management LLC boosted its stake in Zillow Group by 21.7% during the first quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after buying an additional 1,312,000 shares during the period. Finally, Soma Equity Partners LP grew its position in Zillow Group by 389.5% during the third quarter. Soma Equity Partners LP now owns 1,468,492 shares of the financial services provider’s stock worth $113,147,000 after buying an additional 1,168,492 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on Z. Keefe, Bruyette & Woods decreased their target price on Zillow Group from $50.00 to $37.00 and set a “market perform” rating on the stock in a research note on Monday, July 13th. JPMorgan Chase & Co. dropped their price target on Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Weiss Ratings lowered Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Zacks Research upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Finally, UBS Group decreased their price objective on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and an average price target of $72.38.

Insider Transactions at Zillow Group

In related news, General Counsel Bradley D. Owens sold 3,364 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $37.23, for a total transaction of $125,241.72. Following the transaction, the general counsel directly owned 65,245 shares of the company’s stock, valued at approximately $2,429,071.35. This trade represents a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, 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 the business’s stock in a transaction that occurred on 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 owned 49,696 shares of the company’s stock, valued at $1,858,630.40. The trade was a 5.83% decrease in their position. 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. In the last three months, insiders sold 42,910 shares of company stock worth $1,605,732. Company insiders own 25.03% of the company’s stock.

Zillow Group Stock Performance

Shares of NASDAQ:Z opened at $34.06 on Friday. The firm has a market capitalization of $7.79 billion, a PE ratio of 136.24, a price-to-earnings-growth ratio of 1.44 and a beta of 1.98. Zillow Group, Inc. has a 52-week low of $29.23 and a 52-week high of $93.88. The firm has a fifty day moving average of $33.13 and a 200 day moving average of $42.70.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. On average, sell-side 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.