Cinctive Capital Management LP Purchases New Position in Zillow Group, Inc. $Z

Cinctive Capital Management LP purchased a new stake in shares of Zillow Group, Inc. (NASDAQ:Z) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 62,909 shares of the financial services provider’s stock, valued at approximately $4,847,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC bought a new position in shares of Zillow Group in the third quarter valued at approximately $27,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Zillow Group during the third quarter worth $29,000. Cullen Frost Bankers Inc. grew its holdings in Zillow Group by 58.6% during the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock worth $34,000 after buying an additional 163 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Zillow Group by 58.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock valued at $35,000 after buying an additional 185 shares during the last quarter. Finally, Pittenger & Anderson Inc. raised its position in Zillow Group by 32.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock valued at $42,000 after buying an additional 135 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Z has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Mizuho lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Barclays upgraded shares of Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a research report on Monday, February 9th. Two research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $90.60.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 5,361 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $43.95, for a total transaction of $235,615.95. Following the sale, the insider directly owned 41,080 shares in the company, valued at approximately $1,805,466. This represents a 11.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeremy Hofmann sold 7,786 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 60,801 shares of company stock valued at $2,683,986. Corporate insiders own 23.76% of the company’s stock.

Zillow Group Stock Performance

Shares of Z opened at $42.90 on Monday. Zillow Group, Inc. has a fifty-two week low of $41.13 and a fifty-two week high of $93.88. The business has a 50-day moving average of $55.37 and a 200 day moving average of $68.37. The firm has a market cap 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 (NASDAQ:Z) last released its quarterly earnings data 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 for 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%. As a group, research analysts predict that Zillow Group, Inc. will post 0.32 earnings per share 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.