Transmarket Holdings LP Makes New Investment in Zillow Group, Inc. $Z

Transmarket Holdings LP acquired a new position in Zillow Group, Inc. (NASDAQ:Z) during the third quarter, Holdings Channel.com reports. The firm acquired 91,984 shares of the financial services provider’s stock, valued at approximately $2,496,000. Zillow Group makes up approximately 1.4% of Transmarket Holdings LP’s portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of Zillow Group by 106.8% during the first quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider’s stock valued at $1,718,000 after acquiring an additional 21,439 shares in the last quarter. Tiger Global Management LLC increased its position in shares of Zillow Group by 21.7% during the first quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock worth $304,927,000 after acquiring an additional 1,312,000 shares during the last quarter. Emmett Investment Management LP lifted its stake in shares of Zillow Group by 353.9% in the first quarter. Emmett Investment Management LP now owns 96,236 shares of the financial services provider’s stock worth $3,897,000 after acquiring an additional 75,036 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Zillow Group in the first quarter worth about $1,743,000. Finally, Coronation Fund Managers Ltd. lifted its stake in shares of Zillow Group by 130.6% in the first quarter. Coronation Fund Managers Ltd. now owns 349,503 shares of the financial services provider’s stock worth $14,462,000 after acquiring an additional 197,948 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Price Performance

Shares of Z stock opened at $30.77 on Thursday. The firm has a fifty day moving average of $31.46 and a two-hundred day moving average of $39.54. The firm has a market cap of $6.92 billion, a P/E ratio of 139.87, a P/E/G ratio of 1.41 and a beta of 2.04. Zillow Group, Inc. has a 1-year low of $26.67 and a 1-year high of $77.07.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating 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 business had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.10 million. On average, sell-side analysts expect that Zillow Group, Inc. will post 0.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on Z shares. Jefferies Financial Group reduced their price target on Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Keefe, Bruyette & Woods dropped their price objective on Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a research report on Wednesday, August 19th. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $57.71.

Insider Transactions at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 3,169 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $35.37, for a total transaction of $112,087.53. Following the transaction, the insider owned 44,561 shares of the company’s stock, valued at $1,576,122.57. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Claire Cormier Thielke sold 1,187 shares of Zillow Group stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total value of $42,387.77. Following the completion of the transaction, the director owned 2,375 shares of the company’s stock, valued at approximately $84,811.25. The trade was a 33.32% 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. Insiders sold 38,539 shares of company stock valued at $1,323,800 over the last 90 days. Corporate insiders own 23.76% of the company’s stock.

About Zillow Group

Zillow Group, Inc (NASDAQ: Z) operates a digital real estate marketplace in the United States. Its platforms help consumers search for homes, research neighborhoods and market conditions, connect with real estate professionals, and manage various steps in the home-buying, selling, renting and financing processes.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, which provide property listings and real estate information. Zillow Group also offers services for real estate professionals, including marketing, lead generation, transaction management and showing coordination through products such as Zillow Premier Agent and ShowingTime+.

Through Zillow Home Loans and other affiliated services, the company provides or facilitates mortgage and closing-related solutions.