ARK Investment Management LLC Buys 136,228 Shares of Zillow Group, Inc. $Z

ARK Investment Management LLC raised its stake in Zillow Group, Inc. (NASDAQ:Z) by 109.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 261,166 shares of the financial services provider’s stock after acquiring an additional 136,228 shares during the period. ARK Investment Management LLC owned approximately 0.11% of Zillow Group worth $20,123,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of Z. Rakuten Investment Management Inc. purchased a new position in Zillow Group during the 3rd quarter valued at approximately $2,919,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Zillow Group by 63.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 85,210 shares of the financial services provider’s stock worth $6,565,000 after acquiring an additional 32,975 shares in the last quarter. Vanguard Group Inc. boosted 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 acquiring an additional 71,336 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new position in shares of Zillow Group in the third quarter valued at $18,141,000. Finally, WT Wealth Management purchased a new position in shares of Zillow Group in the third quarter valued at $1,458,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling at Zillow Group

In other news, CTO David A. Beitel sold 3,966 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $44.22, for a total value of $175,376.52. Following the transaction, the chief technology officer directly owned 136,690 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Bradley D. Owens sold 2,602 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $44.42, for a total transaction of $115,580.84. Following the completion of the transaction, the general counsel directly owned 33,355 shares in the company, valued at $1,481,629.10. This represents a 7.24% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 60,801 shares of company stock valued at $2,683,986. 25.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on Z shares. Mizuho lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report 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 reissued a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods lowered their price objective on 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. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $90.60.

Zillow Group Price Performance

Zillow Group stock opened at $45.82 on Thursday. The firm has a market capitalization of $10.99 billion, a P/E ratio of 509.17, a price-to-earnings-growth ratio of 2.53 and a beta of 2.10. Zillow Group, Inc. has a 1-year low of $41.91 and a 1-year high of $93.88. The company’s 50-day moving average is $58.77 and its 200 day moving average is $70.43.

Zillow Group (NASDAQ:Z) last released its earnings results 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 business had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. Research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal 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.