Emmett Investment Management LP Has $4.03 Million Stock Position in Zillow Group, Inc. $Z

Emmett Investment Management LP reduced its position in Zillow Group, Inc. (NASDAQ:Z) by 38.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,850 shares of the financial services provider’s stock after selling 34,929 shares during the period. Zillow Group comprises about 2.9% of Emmett Investment Management LP’s holdings, making the stock its 14th largest position. Emmett Investment Management LP’s holdings in Zillow Group were worth $4,030,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Eminence Capital LP grew its stake in shares of Zillow Group by 63.6% in the 2nd quarter. Eminence Capital LP now owns 3,978,731 shares of the financial services provider’s stock valued at $278,710,000 after buying an additional 1,546,577 shares in the last quarter. Holocene Advisors LP acquired a new position in Zillow Group in the second quarter worth approximately $57,021,000. Capital World Investors raised its position 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 valued at $819,427,000 after acquiring an additional 769,944 shares in the last quarter. Mane Global Capital Management LP lifted its stake in Zillow Group by 8,626.2% in the third quarter. Mane Global Capital Management LP now owns 590,413 shares of the financial services provider’s stock valued at $45,491,000 after acquiring an additional 583,647 shares during the last quarter. Finally, Norges Bank acquired a new stake in Zillow Group in the second quarter valued at approximately $29,174,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zillow Group

In other news, CEO Jeremy Wacksman sold 13,661 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the sale, the chief executive officer owned 116,322 shares in the company, valued at approximately $5,147,248.50. This trade represents a 10.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dan Spaulding sold 5,361 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.95, for a total transaction of $235,615.95. Following the transaction, the insider owned 41,080 shares of the company’s stock, valued at approximately $1,805,466. The trade was a 11.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 60,801 shares of company stock valued at $2,683,986. 25.03% of the stock is owned by corporate insiders.

Zillow Group Stock Performance

Zillow Group stock opened at $42.90 on Friday. Zillow Group, Inc. has a 52 week low of $41.13 and a 52 week high of $93.88. The firm has a market capitalization of $10.29 billion, a PE ratio of 476.72, a PEG ratio of 2.40 and a beta of 2.10. The business’s 50-day simple moving average is $55.37 and its 200-day simple moving average is $68.48.

Zillow Group (NASDAQ:Z) last announced its earnings results on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. Research analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on Z. Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Mizuho lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods cut their target price on Zillow Group from $80.00 to $65.00 and set a “market perform” rating on the stock in a report on Monday, February 9th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of “Hold” and a consensus price target of $90.60.

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.