Holocene Advisors LP Decreases Stake in Zillow Group, Inc. $Z

Holocene Advisors LP cut its position in Zillow Group, Inc. (NASDAQ:Z) by 46.0% during the third quarter, HoldingsChannel reports. The firm owned 439,528 shares of the financial services provider’s stock after selling 374,475 shares during the quarter. Holocene Advisors LP’s holdings in Zillow Group were worth $33,866,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC lifted its position in shares of Zillow Group by 4.7% during the 1st quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 171 shares during the last quarter. Intech Investment Management LLC increased its holdings in Zillow Group by 21.7% in the first quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock valued at $1,407,000 after buying an additional 3,653 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Zillow Group by 25.1% in the second quarter. Los Angeles Capital Management LLC now owns 4,946 shares of the financial services provider’s stock valued at $346,000 after buying an additional 991 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in Zillow Group by 58.2% in the second quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock valued at $35,000 after buying an additional 185 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Zillow Group by 2.5% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 70,735 shares of the financial services provider’s stock worth $4,955,000 after buying an additional 1,739 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $42.36 on Tuesday. Zillow Group, Inc. has a 1-year low of $41.13 and a 1-year high of $93.88. The stock has a market cap of $10.16 billion, a P/E ratio of 470.72, a P/E/G ratio of 2.40 and a beta of 2.10. The firm has a fifty day moving average price of $54.90 and a 200 day moving average price of $68.07.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The business had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. Sell-side analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In related news, insider Dan Spaulding sold 5,361 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total value of $235,615.95. Following the transaction, the insider owned 41,080 shares in the company, valued at $1,805,466. The trade was a 11.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeremy Wacksman sold 13,661 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $44.25, for a total value of $604,499.25. Following the sale, the chief executive officer directly owned 116,322 shares of the company’s stock, valued at $5,147,248.50. The trade was a 10.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,801 shares of company stock worth $2,683,986 over the last three months. 23.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on Z shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Zelman & Associates upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Barclays raised Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Mizuho lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zillow Group has a consensus rating of “Hold” and a consensus price target of $90.60.

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.