OP Asset Management Ltd Takes $716,000 Position in Zillow Group, Inc. $Z

OP Asset Management Ltd purchased a new position in shares of Zillow Group, Inc. (NASDAQ:Z) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,293 shares of the financial services provider’s stock, valued at approximately $716,000.

A number of other hedge funds have also bought and sold shares of Z. Banque Cantonale Vaudoise acquired a new stake in Zillow Group during the first quarter valued at approximately $219,000. True Vision MN LLC grew its position in shares of Zillow Group by 23.4% in the 1st quarter. True Vision MN LLC now owns 10,400 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 1,973 shares in the last quarter. Painted Porch Advisors LLC bought a new stake in shares of Zillow Group in the 4th quarter valued at approximately $849,000. Rockefeller Capital Management L.P. raised its position in shares of Zillow Group by 61.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,315 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 1,267 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Zillow Group by 8.0% during the fourth quarter. Hsbc Holdings PLC now owns 190,662 shares of the financial services provider’s stock worth $13,020,000 after purchasing an additional 14,145 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zillow Group

In related news, General Counsel Bradley D. Owens sold 3,364 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $37.23, for a total transaction of $125,241.72. Following the transaction, the general counsel owned 65,245 shares in the company, valued at $2,429,071.35. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, Director Erik C. Blachford sold 791 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $34.80, for a total value of $27,526.80. Following the sale, the director directly owned 34,952 shares in the company, valued at approximately $1,216,329.60. The trade was a 2.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,910 shares of company stock worth $1,605,732 in the last three months. Insiders own 23.76% of the company’s stock.

Zillow Group Stock Performance

Shares of Z opened at $31.52 on Wednesday. Zillow Group, Inc. has a one year low of $29.23 and a one year high of $93.88. The stock’s fifty day moving average is $37.21 and its 200-day moving average is $48.41. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 126.08, a price-to-earnings-growth ratio of 1.34 and a beta of 1.97.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.10 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Analysts forecast that Zillow Group, Inc. will post 0.9 EPS for the current fiscal year.

Zillow Group News Roundup

Here are the key news stories impacting Zillow Group this week:

• Negative Sentiment: Several law firms, including Rosen Law Firm, Kahn Swick & Foti, Pomerantz, Glancy Prongay, Berger Montague, and Bleichmar Fonti & Auld, announced or reminded investors about class-action lawsuits against Zillow over alleged securities fraud tied to anticompetitive agreement disclosures and regulatory risk. Article: Z, ZG Investors Have Opportunity to Lead Zillow Group, Inc. Securities Fraud Lawsuit Filed by The Rosen Law Firm
• Negative Sentiment: Investors continue to be encouraged to file claims or seek lead plaintiff status, signaling the lawsuit campaign is active and could weigh on sentiment while legal costs and potential liabilities remain uncertain. Article: Zillow Group Securities Fraud Class Action Arising from Alleged Anticompetitive Agreement and Related Regulatory Risks
• Negative Sentiment: Separately, a Fast Company report said about two-thirds of Zillow’s Chicago listings abruptly disappeared amid a dispute with Midwest Real Estate Data, underscoring operational friction that could hurt listing coverage if the issue spreads. Article: Zillow just lost most of its Chicago listings. Is the rest of the country next?

Wall Street Analysts Forecast Growth

Z has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, May 8th. UBS Group lowered their price objective on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Royal Bank Of Canada dropped their price objective 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 raised shares of Zillow Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, JPMorgan Chase & Co. decreased their target price on Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Two 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.

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.