Quantitative Investment Management LLC Increases Stock Holdings in Zillow Group, Inc. $Z

Quantitative Investment Management LLC raised its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 62.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,275 shares of the financial services provider’s stock after purchasing an additional 25,807 shares during the quarter. Quantitative Investment Management LLC’s holdings in Zillow Group were worth $2,120,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in Z. Assenagon Asset Management S.A. lifted its stake in shares of Zillow Group by 11.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 303,930 shares of the financial services provider’s stock worth $9,580,000 after purchasing an additional 32,387 shares during the period. Arlington Partners LLC grew its position in Zillow Group by 22.5% during the second quarter. Arlington Partners LLC now owns 7,235 shares of the financial services provider’s stock valued at $228,000 after buying an additional 1,327 shares during the period. CX Institutional purchased a new stake in Zillow Group during the second quarter valued at approximately $110,000. NewEdge Advisors LLC increased its holdings in Zillow Group by 2.0% during the first quarter. NewEdge Advisors LLC now owns 38,052 shares of the financial services provider’s stock valued at $1,575,000 after buying an additional 750 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new position in Zillow Group in the first quarter worth approximately $166,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $34.96 on Tuesday. The company has a market capitalization of $7.86 billion, a P/E ratio of 158.92, a P/E/G ratio of 1.55 and a beta of 1.98. Zillow Group, Inc. has a 1-year low of $29.23 and a 1-year high of $93.88. The firm’s 50 day simple moving average is $33.50 and its two-hundred day simple moving average is $38.30.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.10 million. On average, sell-side analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Errol G. Samuelson sold 3,154 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $107,992.96. Following the completion of the transaction, the insider owned 130,885 shares of the company’s stock, valued at $4,481,502.40. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, CFO Jeremy Hofmann sold 5,661 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the sale, the chief financial officer owned 59,144 shares of the company’s stock, valued at $2,021,541.92. This represents a 8.74% 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. Insiders have sold a total of 37,351 shares of company stock worth $1,280,657 in the last three months. 23.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Z has been the topic of several analyst reports. Royal Bank Of Canada dropped their price target 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. Wall Street Zen cut Zillow Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Evercore downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. cut their price target on Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Zillow Group in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and a consensus target price of $66.75.

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.