Envestnet Asset Management Inc. Boosts Stock Position in Zillow Group, Inc. $Z

Envestnet Asset Management Inc. boosted its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 44.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,357 shares of the financial services provider’s stock after buying an additional 23,685 shares during the period. Envestnet Asset Management Inc.’s holdings in Zillow Group were worth $5,960,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Zillow Group by 1.8% during 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 acquiring an additional 412,571 shares in the last quarter. Ninety One UK Ltd grew its position in Zillow Group by 2.0% during the 3rd quarter. Ninety One UK Ltd now owns 4,825,287 shares of the financial services provider’s stock valued at $371,788,000 after purchasing an additional 93,339 shares during the last quarter. Eminence Capital LP grew its position in Zillow Group by 63.6% during 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 purchasing an additional 1,546,577 shares during the last quarter. Geode Capital Management LLC increased its stake in Zillow Group by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,142,403 shares of the financial services provider’s stock valued at $219,467,000 after purchasing an additional 69,630 shares in the last quarter. Finally, Atreides Management LP raised its holdings in Zillow Group by 82.5% in the second quarter. Atreides Management LP now owns 856,008 shares of the financial services provider’s stock worth $59,963,000 after buying an additional 386,947 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on Z. Keefe, Bruyette & Woods cut their price target on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating on the stock in a report on Monday, February 9th. Mizuho downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. boosted their price target on Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Finally, Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.60.

Insider Activity

In other news, CTO David A. Beitel sold 3,966 shares of the company’s stock in a transaction on 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 owned 136,690 shares of the company’s stock, valued at approximately $6,044,431.80. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Hofmann sold 7,786 shares of Zillow Group stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total value of $340,481.78. Following the completion of the transaction, the chief financial officer owned 57,487 shares of the company’s stock, valued at approximately $2,513,906.51. This trade represents a 11.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 62,007 shares of company stock worth $2,771,433 over the last 90 days. Company insiders own 25.03% of the company’s stock.

Zillow Group Stock Down 0.2%

NASDAQ:Z opened at $45.46 on Friday. The stock’s fifty day moving average is $62.62 and its two-hundred day moving average is $72.59. Zillow Group, Inc. has a 52 week low of $42.50 and a 52 week high of $93.88. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 505.17, a price-to-earnings-growth ratio of 2.54 and a beta of 2.08.

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

About Zillow Group

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.