Atreides Management LP Sells 737,910 Shares of Zillow Group, Inc. $Z

Atreides Management LP lessened its holdings in Zillow Group, Inc. (NASDAQ:Z) by 86.2% during the third quarter, HoldingsChannel reports. The fund owned 118,098 shares of the financial services provider’s stock after selling 737,910 shares during the quarter. Atreides Management LP’s holdings in Zillow Group were worth $9,099,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Eminence Capital LP boosted its stake 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. Holocene Advisors LP purchased a new stake in shares of Zillow Group in the second quarter worth approximately $57,021,000. Capital World Investors raised its stake in shares of Zillow Group by 7.8% in the third quarter. Capital World Investors now owns 10,635,008 shares of the financial services provider’s stock worth $819,427,000 after purchasing an additional 769,944 shares during the last quarter. Mane Global Capital Management LP lifted its holdings in shares of Zillow Group by 8,626.2% in the third quarter. Mane Global Capital Management LP now owns 590,413 shares of the financial services provider’s stock valued at $45,491,000 after purchasing an additional 583,647 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Zillow Group in the second quarter valued at approximately $29,174,000. Institutional investors own 71.01% of the company’s stock.

Zillow Group Trading Up 4.0%

Shares of Z opened at $42.90 on Friday. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 476.72, a PEG ratio of 2.40 and a beta of 2.10. The stock has a 50 day moving average of $55.37 and a 200 day moving average of $68.48. Zillow Group, Inc. has a 12 month low of $41.13 and a 12 month high of $93.88.

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 analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The business had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. As a group, equities research analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Activity at Zillow Group

In related news, CFO Jeremy Hofmann sold 7,786 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78. Following the completion of the sale, the chief financial officer owned 57,487 shares in the company, valued at approximately $2,513,906.51. This trade represents a 11.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO David A. Beitel sold 3,966 shares of Zillow Group stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $44.22, for a total transaction of $175,376.52. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 60,801 shares of company stock worth $2,683,986. 25.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on Z. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Zelman & Associates upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Barclays raised shares of Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Keefe, Bruyette & Woods reduced their target price on shares of 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 11th. Two investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $90.60.

Zillow Group 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.