Altimeter Capital Management LP Sells 200,351 Shares of Zillow Group, Inc. $Z

Altimeter Capital Management LP lowered its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 8.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,187,421 shares of the financial services provider’s stock after selling 200,351 shares during the quarter. Zillow Group makes up about 2.2% of Altimeter Capital Management LP’s holdings, making the stock its 14th biggest holding. Altimeter Capital Management LP’s holdings in Zillow Group were worth $168,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of Z. Vanguard Group Inc. increased its position in shares of Zillow Group by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock valued at $1,777,841,000 after purchasing an additional 71,336 shares during the last quarter. Capital World Investors raised its holdings in shares of Zillow Group by 7.8% during the 3rd quarter. Capital World Investors now owns 10,635,008 shares of the financial services provider’s stock valued at $819,427,000 after buying an additional 769,944 shares in the last quarter. Ninety One UK Ltd lifted its position in Zillow Group by 2.0% in the 3rd quarter. Ninety One UK Ltd now owns 4,825,287 shares of the financial services provider’s stock worth $371,788,000 after buying an additional 93,339 shares during the last quarter. Eminence Capital LP lifted 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 worth $278,710,000 after buying an additional 1,546,577 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Zillow Group by 2.3% in the second quarter. Geode Capital Management LLC now owns 3,142,403 shares of the financial services provider’s stock worth $219,467,000 after buying an additional 69,630 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $42.90 on Friday. The business’s 50 day simple moving average is $55.37 and its two-hundred day simple moving average is $68.48. The stock has a market capitalization of $10.29 billion, a P/E ratio of 476.72, a price-to-earnings-growth ratio of 2.40 and a beta of 2.10. Zillow Group, Inc. has a one year low of $41.13 and a one year high of $93.88.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data 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 company had revenue of $654.00 million during 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%. Sell-side analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays upgraded shares of Zillow Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 29th. Mizuho lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating on the stock in a research report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $90.60.

Insider Buying and Selling

In other Zillow Group news, insider Dan Spaulding sold 5,361 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.95, for a total value of $235,615.95. Following the sale, the insider owned 41,080 shares of the company’s stock, valued at $1,805,466. This trade represents a 11.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Hofmann sold 7,786 shares of the business’s 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 transaction, the chief financial officer owned 57,487 shares in the company, valued at $2,513,906.51. The trade was a 11.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 60,801 shares of company stock valued at $2,683,986 over the last quarter. 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.