Quantinno Capital Management LP Purchases 90,858 Shares of Zillow Group, Inc. $ZG

Quantinno Capital Management LP increased its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 106.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 176,052 shares of the technology company’s stock after purchasing an additional 90,858 shares during the period. Quantinno Capital Management LP’s holdings in Zillow Group were worth $7,287,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ZG. Signaturefd LLC raised its position in Zillow Group by 10.4% in the 4th quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock worth $117,000 after purchasing an additional 161 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Zillow Group by 10.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the technology company’s stock valued at $147,000 after buying an additional 198 shares during the period. Lido Advisors LLC grew its stake in shares of Zillow Group by 0.4% during the fourth quarter. Lido Advisors LLC now owns 50,846 shares of the technology company’s stock valued at $3,627,000 after buying an additional 215 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of Zillow Group by 1.4% in the second quarter. Royal London Asset Management Ltd. now owns 18,217 shares of the technology company’s stock worth $1,248,000 after buying an additional 247 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Zillow Group by 7.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,915 shares of the technology company’s stock worth $258,000 after buying an additional 258 shares during the period. 20.32% of the stock is currently owned by institutional investors.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $36.89 on Thursday. Zillow Group, Inc. has a 52-week low of $29.03 and a 52-week high of $90.22. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 147.56, a PEG ratio of 1.58 and a beta of 1.95. The stock has a 50 day moving average price of $33.23 and a 200 day moving average price of $41.83.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The company had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.25 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.Zillow Group’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Zillow Group News Summary

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow reported second-quarter revenue of approximately $772 million, up about 18% year over year and ahead of Wall Street expectations near $758 million. Adjusted earnings were $0.52 per share, above the $0.44 consensus estimate and up from $0.40 a year earlier. Zillow Group Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: KeyBanc maintained its Buy rating, providing some support for the stock despite the mixed earnings reaction. KeyBanc Sticks to Their Buy Rating
• Neutral Sentiment: Zillow expanded Chief Financial Officer Jeremy Hofmann’s responsibilities to include chief operating officer and appointed Cassandra Knight as its first chief legal and policy officer. The changes are intended to support the company’s housing “super app” strategy, though they add leadership-transition uncertainty. Zillow Strengthens Executive Leadership Team
• Negative Sentiment: The company posted a roughly $4 million net loss as $36 million of restructuring costs weighed on results. Separate reports cited GAAP EPS of $0.20, below the $0.44 analyst estimate, highlighting the difference between the adjusted earnings beat and weaker reported profitability. Zillow Swings to Loss on Restructuring Costs
• Negative Sentiment: Third-quarter revenue guidance of $745 million to $760 million was below the $772.3 million consensus forecast. Full-year revenue guidance of $2.9 billion to $3.0 billion also only reaches the approximately $3.0 billion analyst estimate, signaling limited near-term upside.
• Negative Sentiment: Zillow cut more than 500 jobs, or about 7% of its workforce, ahead of the earnings release. The layoffs may improve costs but also suggest management is responding to operating pressure. Zillow Cuts More Than 500 Jobs
• Negative Sentiment: Several law firms are soliciting investors for a securities-fraud class action tied to alleged anticompetitive conduct involving Redfin. The August 10 lead-plaintiff deadline keeps litigation and regulatory risk in focus. Zillow Securities-Fraud Class Action

Insider Activity

In other news, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $37.97, for a total transaction of $111,593.83. Following the transaction, the insider owned 134,039 shares in the company, valued at approximately $5,089,460.83. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,501 shares of Zillow Group stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $205,737.40. Following the completion of the sale, the chief financial officer owned 68,315 shares of the company’s stock, valued at $2,554,981. The trade was a 7.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 42,910 shares of company stock valued at $1,605,732. Company insiders own 29.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Mizuho dropped their price objective on Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. UBS Group reduced their target price on Zillow Group from $75.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Citigroup reiterated a “market outperform” rating on shares of Zillow Group in a research report on Tuesday, May 26th. Wells Fargo & Company boosted their target price on shares of Zillow Group from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Finally, Canaccord Genuity Group reduced their price target on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.90.

Zillow Group Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.