Independent Franchise Partners LLP Has $773.35 Million Stake in Zillow Group, Inc. $Z

Independent Franchise Partners LLP lessened its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 1.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,039,921 shares of the financial services provider’s stock after selling 113,776 shares during the period. Zillow Group accounts for 5.1% of Independent Franchise Partners LLP’s portfolio, making the stock its 8th largest position. Independent Franchise Partners LLP owned 4.57% of Zillow Group worth $773,346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in Z. Jump Financial LLC bought a new position in shares of Zillow Group during the 1st quarter valued at about $334,000. American Assets Investment Management LLC bought a new stake in shares of Zillow Group during the 1st quarter worth approximately $468,000. Emmett Investment Management LP increased its stake in shares of Zillow Group by 101.7% during the 1st quarter. Emmett Investment Management LP now owns 78,529 shares of the financial services provider’s stock worth $5,345,000 after purchasing an additional 39,604 shares during the last quarter. Invesco Ltd. lifted its position in shares of Zillow Group by 71.6% in the first quarter. Invesco Ltd. now owns 502,403 shares of the financial services provider’s stock valued at $34,445,000 after buying an additional 209,614 shares during the last quarter. Finally, Vident Advisory LLC raised its position in shares of Zillow Group by 209.6% in the first quarter. Vident Advisory LLC now owns 12,828 shares of the financial services provider’s stock valued at $879,000 after purchasing an additional 8,684 shares during the period. Institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Down 2.0%

Shares of Z opened at $72.09 on Wednesday. The stock has a market cap of $17.45 billion, a P/E ratio of -514.89, a P/E/G ratio of 28.91 and a beta of 2.10. The business’s fifty day moving average is $73.52 and its 200 day moving average is $76.02. Zillow Group, Inc. has a 12-month low of $57.51 and a 12-month high of $93.88.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Zillow Group had a negative return on equity of 0.56% and a negative net margin of 1.29%.The company had revenue of $729.00 million for the quarter, compared to the consensus estimate of $670.28 million. On average, analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on Z. JPMorgan Chase & Co. increased their target price on shares of Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Mizuho raised shares of Zillow Group to a “strong-buy” rating in a research note on Monday, September 29th. Sanford C. Bernstein raised Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price target for the company in a report on Wednesday, September 17th. Keefe, Bruyette & Woods cut their target price on shares of Zillow Group from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Finally, Bank of America lifted their price target on shares of Zillow Group from $81.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, four have given 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, the stock has an average rating of “Moderate Buy” and an average target price of $91.14.

Insider Transactions at Zillow Group

In other news, CEO Jeremy Wacksman sold 10,855 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $69.99, for a total value of $759,741.45. Following the transaction, the chief executive officer owned 134,712 shares of the company’s stock, valued at $9,428,492.88. This represents a 7.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jun Choo sold 25,575 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $91.06, for a total value of $2,328,859.50. Following the completion of the sale, the chief operating officer owned 114,129 shares of the company’s stock, valued at $10,392,586.74. The trade was a 18.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 143,011 shares of company stock valued at $11,631,578. 23.76% of the stock is currently owned by company insiders.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.