Zillow Group, Inc. $Z Shares Bought by Royal Bank of Canada

Royal Bank of Canada lifted its position in shares of Zillow Group, Inc. (NASDAQ:Z) by 39.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 169,350 shares of the financial services provider’s stock after buying an additional 48,102 shares during the quarter. Royal Bank of Canada owned approximately 0.07% of Zillow Group worth $7,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in Z. Independent Franchise Partners LLP increased its holdings in Zillow Group by 0.9% during the 4th quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock valued at $747,241,000 after acquiring an additional 94,569 shares in the last quarter. Capital World Investors lifted its holdings in shares of Zillow Group by 1.8% in the fourth quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock valued at $738,554,000 after purchasing an additional 191,058 shares in the last quarter. Tiger Global Management LLC lifted its holdings in shares of Zillow Group by 21.7% in the first quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after purchasing an additional 1,312,000 shares in the last quarter. State Street Corp grew its position in shares of Zillow Group by 3.9% in the fourth quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock valued at $261,882,000 after purchasing an additional 143,726 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Zillow Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,363,657 shares of the financial services provider’s stock valued at $228,898,000 after purchasing an additional 55,323 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Key Zillow Group News

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: JPMorgan maintained an “overweight” rating while lowering its price target from $76 to $62. The revised target still implies substantial upside, signaling continued confidence in Zillow’s long-term prospects. Benzinga
• Positive Sentiment: A bullish Seeking Alpha analysis highlighted Zillow’s strong second-quarter performance, including 18% revenue growth and strength in mortgage, rentals, and for-sale businesses. Zillow’s preferred model now generates 61% of connections, potentially increasing revenue per connection and supporting faster EBITDA growth as the transition matures. Zillow Group: Preferred Monetization Drives The Bull Case
• Positive Sentiment: Another analysis argued that investors may be interpreting revenue-recognition timing delays as a structural growth problem, suggesting the recent weakness could be overstated. Zillow: The Market Is Mistaking A Revenue Delay For A Growth Problem
• Neutral Sentiment: Reported short interest was zero shares as of August 11, unchanged from the prior report, with a zero-day short-interest ratio. The data appears anomalous and provides little actionable insight into trading sentiment.
• Negative Sentiment: Keefe, Bruyette & Woods reduced its Zillow price target to $34, reinforcing concerns about near-term valuation and operating conditions. KBW Cuts Zillow Group Price Target
• Negative Sentiment: Multiple law firms publicized a securities class-action lawsuit and lead-plaintiff deadline involving Zillow. Although these announcements do not establish wrongdoing, they add legal and reputational uncertainty.
• Negative Sentiment: Commentary also noted that Zillow continues to operate in a difficult real estate market, which could constrain housing-related demand despite ongoing growth. Is Zillow Stock a Buy After Falling Nearly 13% in One Day?

Analyst Upgrades and Downgrades

Z has been the subject of several research reports. Keefe, Bruyette & Woods cut their price objective on Zillow Group from $37.00 to $34.00 and set a “market perform” rating for the company in a research report on Friday, August 7th. Evercore cut Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Wall Street Zen cut Zillow Group from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley set a $60.00 price objective on Zillow Group in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

Zillow Group Price Performance

Z opened at $34.14 on Wednesday. Zillow Group, Inc. has a 12 month low of $29.23 and a 12 month high of $93.88. The business has a 50-day moving average of $32.96 and a two-hundred day moving average of $40.91. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 155.19, a price-to-earnings-growth ratio of 1.44 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.10 million. Equities research analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,364 shares of Zillow Group stock in a transaction on Friday, May 15th. The shares were sold at an average price of $37.23, for a total value of $125,241.72. Following the transaction, the general counsel owned 65,245 shares in the company, valued at $2,429,071.35. This trade represents a 4.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Errol G. Samuelson sold 2,939 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total transaction of $111,593.83. Following the sale, the insider directly owned 134,039 shares of the company’s stock, valued at $5,089,460.83. This represents a 2.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 42,910 shares of company stock worth $1,605,732 over the last 90 days. Company insiders own 23.76% of the company’s stock.

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.