Zillow Group, Inc. $Z Shares Sold by Korea Investment CORP

Korea Investment CORP lessened its position in Zillow Group, Inc. (NASDAQ:Z) by 25.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,223 shares of the financial services provider’s stock after selling 34,056 shares during the quarter. Korea Investment CORP’s holdings in Zillow Group were worth $7,491,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Eminence Capital LP grew its position in 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 acquiring an additional 1,546,577 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Zillow Group in the second quarter valued at approximately $57,021,000. Norges Bank purchased a new position in shares of Zillow Group in the second quarter valued at approximately $29,174,000. Vanguard Group Inc. grew its holdings in shares of Zillow Group by 1.8% in the second quarter. Vanguard Group Inc. now owns 23,002,526 shares of the financial services provider’s stock valued at $1,611,327,000 after purchasing an additional 412,571 shares in the last quarter. Finally, Atreides Management LP grew its holdings in shares of Zillow Group by 82.5% in the second quarter. Atreides Management LP now owns 856,008 shares of the financial services provider’s stock valued at $59,963,000 after purchasing an additional 386,947 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Zillow Group Stock Down 8.1%

Shares of Zillow Group stock opened at $41.25 on Friday. Zillow Group, Inc. has a 52-week low of $41.13 and a 52-week high of $93.88. The company has a market capitalization of $9.90 billion, a P/E ratio of 458.38, a P/E/G ratio of 2.51 and a beta of 2.10. The company has a 50 day moving average of $55.83 and a 200 day moving average of $68.90.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The firm had revenue of $654.00 million during the quarter, compared to analysts’ expectations of $650.40 million. As a group, research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on Z. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Keefe, Bruyette & Woods dropped their price target on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday, February 9th. Barclays raised Zillow Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 29th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Finally, Zelman & Associates upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, three 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 company presently has a consensus rating of “Hold” and a consensus target price of $90.60.

Insider Transactions at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 7,015 shares of Zillow Group stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $44.21, for a total transaction of $310,133.15. Following the completion of the sale, the insider directly owned 113,800 shares of the company’s stock, valued at $5,031,098. The trade was a 5.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dan Spaulding sold 5,361 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total value of $235,615.95. Following the transaction, the insider directly owned 41,080 shares of the company’s stock, valued at approximately $1,805,466. This represents a 11.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,801 shares of company stock valued at $2,683,986 over the last ninety days. Company insiders own 25.03% of the company’s stock.

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.