Scge Management L.P. Boosts Holdings in Zillow Group, Inc. $Z

Scge Management L.P. grew its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,998,000 shares of the financial services provider’s stock after acquiring an additional 259,000 shares during the quarter. Zillow Group accounts for approximately 3.1% of Scge Management L.P.’s holdings, making the stock its 14th biggest holding. Scge Management L.P.’s holdings in Zillow Group were worth $136,304,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Zillow Group by 0.3% during the third quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock worth $1,777,841,000 after acquiring an additional 71,336 shares in the last quarter. Capital World Investors raised its stake in shares of Zillow Group by 1.8% during the fourth quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock worth $738,554,000 after acquiring an additional 191,058 shares in the last quarter. State Street Corp raised its stake in shares of Zillow Group by 3.9% during the fourth quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock worth $261,882,000 after acquiring an additional 143,726 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Zillow Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,363,657 shares of the financial services provider’s stock worth $228,898,000 after acquiring an additional 55,323 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Zillow Group by 43.9% during the fourth quarter. Morgan Stanley now owns 3,197,447 shares of the financial services provider’s stock worth $218,130,000 after acquiring an additional 976,151 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on Z. Zacks Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Royal Bank Of Canada decreased their target price on shares of 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 decreased their target price on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.00.

Insiders Place Their Bets

In related news, insider Dan Spaulding sold 3,078 shares of Zillow Group stock in a transaction on Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $115,117.20. Following the sale, the insider owned 49,696 shares in the company, valued at $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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, Director Erik C. Blachford sold 791 shares of Zillow Group stock in a transaction on Monday, June 8th. The shares were sold at an average price of $34.80, for a total transaction of $27,526.80. Following the completion of the sale, the director owned 34,952 shares in the company, valued at approximately $1,216,329.60. This trade represents a 2.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 42,910 shares of company stock valued at $1,605,732 over the last quarter. 23.76% of the stock is owned by company insiders.

Zillow Group Price Performance

Shares of NASDAQ Z opened at $32.03 on Monday. Zillow Group, Inc. has a 52 week low of $31.49 and a 52 week high of $93.88. The firm’s fifty day moving average is $39.70 and its 200 day moving average is $52.03. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 128.12, a PEG ratio of 1.37 and a beta of 1.97.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Equities research analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Zillow Group Profile

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.