Zillow Group, Inc. $Z Shares Sold by IVY Lane Capital Management LLC

IVY Lane Capital Management LLC lowered its holdings in Zillow Group, Inc. (NASDAQ:Z) by 61.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 52,000 shares of the financial services provider’s stock after selling 84,000 shares during the period. Zillow Group accounts for 4.5% of IVY Lane Capital Management LLC’s portfolio, making the stock its 8th largest position. IVY Lane Capital Management LLC’s holdings in Zillow Group were worth $4,007,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new stake in shares of Zillow Group in the third quarter valued at approximately $27,000. Pilgrim Partners Asia Pte Ltd bought a new position in Zillow Group during the third quarter worth $29,000. Cullen Frost Bankers Inc. raised its stake in Zillow Group by 58.6% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 163 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in Zillow Group by 58.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 185 shares during the period. Finally, Pittenger & Anderson Inc. grew its position in Zillow Group by 32.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 135 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on Z shares. Keefe, Bruyette & Woods cut their price objective on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a research report on Monday, February 9th. Barclays raised Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Zelman & Associates raised Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group presently has an average rating of “Hold” and an average target price of $90.60.

Zillow Group Trading Down 4.4%

NASDAQ Z opened at $44.62 on Monday. Zillow Group, Inc. has a 1-year low of $41.91 and a 1-year high of $93.88. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 495.83, a PEG ratio of 2.50 and a beta of 2.10. The stock’s 50 day moving average is $60.21 and its two-hundred day moving average is $71.18.

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

Insider Activity

In related news, CFO Jeremy Hofmann sold 7,786 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78. Following the completion of the sale, the chief financial officer owned 57,487 shares in the company, valued at $2,513,906.51. This trade represents a 11.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO David A. Beitel sold 3,966 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $44.22, for a total transaction of $175,376.52. Following the sale, the chief technology officer directly owned 136,690 shares in the company, valued at $6,044,431.80. This represents a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 62,007 shares of company stock valued at $2,771,433. 23.76% of the stock is owned by company insiders.

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.