Zillow Group, Inc. $Z Shares Sold by Eminence Capital LP

Eminence Capital LP lessened its holdings in Zillow Group, Inc. (NASDAQ:Z) by 37.2% during the third quarter, Holdings Channel.com reports. The firm owned 2,497,015 shares of the financial services provider’s stock after selling 1,481,716 shares during the quarter. Zillow Group makes up 2.3% of Eminence Capital LP’s investment portfolio, making the stock its 17th largest position. Eminence Capital LP’s holdings in Zillow Group were worth $192,395,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Root Financial Partners LLC purchased a new stake in shares of Zillow Group in the third quarter valued at approximately $27,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Zillow Group in the third quarter worth $29,000. Cullen Frost Bankers Inc. raised its position in Zillow Group by 58.6% in the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 163 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Zillow Group by 58.2% in the second quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 185 shares during the period. Finally, Pittenger & Anderson Inc. boosted its position in shares of Zillow Group by 32.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 135 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Stock Up 4.0%

Zillow Group stock opened at $42.90 on Friday. The firm has a market capitalization of $10.29 billion, a PE ratio of 476.72, a P/E/G ratio of 2.40 and a beta of 2.10. Zillow Group, Inc. has a 52 week low of $41.13 and a 52 week high of $93.88. The firm’s 50-day simple moving average is $55.37 and its 200 day simple moving average is $68.48.

Zillow Group (NASDAQ:Z) last posted its earnings results on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share 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%. On average, research analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on Z. Barclays raised shares of Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Keefe, Bruyette & Woods decreased their price objective 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 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 reaffirmed a “hold” rating on shares of Zillow Group in a report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.60.

Insiders Place Their Bets

In other Zillow Group news, CEO Jeremy Wacksman sold 13,661 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the transaction, the chief executive officer directly owned 116,322 shares in the company, valued at approximately $5,147,248.50. This represents a 10.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO David A. Beitel sold 3,966 shares of the firm’s 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 sale, the chief technology officer directly owned 136,690 shares in the company, valued at $6,044,431.80. This represents a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 60,801 shares of company stock valued at $2,683,986. Insiders own 25.03% of the company’s stock.

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.