Zillow Group, Inc. $Z Shares Purchased by L1 Capital Pty Ltd

L1 Capital Pty Ltd increased its position in Zillow Group, Inc. (NASDAQ:Z) by 24,803.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,729,313 shares of the financial services provider’s stock after purchasing an additional 1,722,369 shares during the quarter. Zillow Group makes up 6.2% of L1 Capital Pty Ltd’s portfolio, making the stock its 6th biggest position. L1 Capital Pty Ltd owned 0.71% of Zillow Group worth $117,974,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in Z. M&T Bank Corp bought a new position in Zillow Group during the fourth quarter worth about $196,677,000. Scge Management L.P. bought a new position in Zillow Group during the third quarter worth about $133,990,000. Soma Equity Partners LP boosted its holdings 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 during the last quarter. Holocene Advisors LP bought a new position in Zillow Group during the second quarter worth about $57,021,000. Finally, Capital World Investors boosted its holdings in Zillow Group by 7.8% during the third quarter. Capital World Investors now owns 10,635,008 shares of the financial services provider’s stock worth $819,427,000 after buying an additional 769,944 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling at Zillow Group

In other news, insider Errol G. Samuelson sold 2,939 shares of Zillow Group stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $37.97, for a total transaction of $111,593.83. Following the transaction, the insider owned 134,039 shares in the company, valued at $5,089,460.83. The trade was a 2.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,072 shares of Zillow Group stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the transaction, the chief executive officer owned 153,699 shares in the company, valued at $5,616,161.46. This trade represents a 5.57% 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 worth $1,605,732 over the last three months. Company insiders own 25.03% of the company’s stock.

Zillow Group Price Performance

NASDAQ:Z opened at $32.03 on Friday. Zillow Group, Inc. has a fifty-two week low of $31.49 and a fifty-two week high of $93.88. The stock has a market capitalization of $7.33 billion, a PE ratio of 128.12, a price-to-earnings-growth ratio of 1.40 and a beta of 1.97. The business’s 50-day simple moving average is $39.70 and its 200-day simple moving average is $52.17.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $705.10 million. On average, research analysts expect that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings cut Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. JPMorgan Chase & Co. reduced their target price on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Royal Bank Of Canada reduced their target price on Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Two investment 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.00.

Zillow Group Company 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.