Holocene Advisors LP Trims Stake in Zillow Group, Inc. $Z

Holocene Advisors LP lessened its holdings in Zillow Group, Inc. (NASDAQ:Z) by 46.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 439,528 shares of the financial services provider’s stock after selling 374,475 shares during the period. Holocene Advisors LP owned approximately 0.18% of Zillow Group worth $33,866,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of Z. Eminence Capital LP boosted its stake in Zillow Group by 63.6% during the second 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 period. Capital World Investors raised its stake in shares of Zillow Group by 7.8% in 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 acquiring an additional 769,944 shares during the period. Mane Global Capital Management LP raised its stake in shares of Zillow Group by 8,626.2% in the 3rd quarter. Mane Global Capital Management LP now owns 590,413 shares of the financial services provider’s stock valued at $45,491,000 after acquiring an additional 583,647 shares during the period. Norges Bank acquired a new position in shares of Zillow Group in the 2nd quarter worth approximately $29,174,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Zillow Group by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 23,002,526 shares of the financial services provider’s stock worth $1,611,327,000 after acquiring an additional 412,571 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Z has been the subject of several research reports. Zelman & Associates upgraded shares of 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 note on Wednesday, February 11th. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Finally, Mizuho lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Zillow Group currently has a consensus rating of “Hold” and a consensus target price of $90.60.

Insiders Place Their Bets

In other Zillow Group news, CFO Jeremy Hofmann sold 7,786 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total transaction of $340,481.78. Following the sale, the chief financial officer owned 57,487 shares in the company, valued at $2,513,906.51. This represents a 11.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeremy Wacksman sold 13,661 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the completion of the sale, the chief executive officer directly owned 116,322 shares in the company, valued at $5,147,248.50. This represents a 10.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 60,801 shares of company stock valued at $2,683,986. 23.76% of the stock is owned by company insiders.

Zillow Group Stock Down 1.3%

Shares of Z opened at $42.36 on Tuesday. Zillow Group, Inc. has a fifty-two week low of $41.13 and a fifty-two week high of $93.88. The firm’s 50 day moving average price is $54.90 and its 200 day moving average price is $68.07. The company has a market cap of $10.16 billion, a P/E ratio of 470.72, a PEG ratio of 2.40 and a beta of 2.10.

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

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.