Zillow Group, Inc. $Z is Avory & Company LLC’s 5th Largest Position

Avory & Company LLC cut its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 46.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 103,272 shares of the financial services provider’s stock after selling 89,674 shares during the period. Zillow Group comprises about 5.5% of Avory & Company LLC’s holdings, making the stock its 5th biggest holding. Avory & Company LLC’s holdings in Zillow Group were worth $4,273,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Independent Franchise Partners LLP grew its position in shares of Zillow Group by 0.9% in the fourth quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock valued at $747,241,000 after purchasing an additional 94,569 shares during the period. Capital World Investors raised its position in shares of Zillow Group by 1.8% during the 4th quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock worth $738,554,000 after purchasing an additional 191,058 shares during the last quarter. Tiger Global Management LLC raised its position in shares of Zillow Group by 20.1% during the 4th quarter. Tiger Global Management LLC now owns 6,056,957 shares of the financial services provider’s stock worth $413,206,000 after purchasing an additional 1,011,813 shares during the last quarter. State Street Corp lifted its stake in Zillow Group by 3.9% in the 4th quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock valued at $261,882,000 after buying an additional 143,726 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Zillow Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,363,657 shares of the financial services provider’s stock valued at $228,898,000 after buying an additional 55,323 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wall Street Zen upgraded Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Zacks Research lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. dropped their price target on Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, UBS Group reduced their price objective on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.

Zillow Group Price Performance

Z stock opened at $32.96 on Tuesday. Zillow Group, Inc. has a 1 year low of $29.23 and a 1 year high of $93.88. The firm has a market capitalization of $7.54 billion, a PE ratio of 131.84, a price-to-earnings-growth ratio of 1.43 and a beta of 1.98. The business has a 50 day simple moving average of $36.18 and a 200-day simple moving average of $47.31.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. On average, equities research analysts expect that Zillow Group, Inc. will post 0.9 EPS for the current year.

Insiders Place Their Bets

In related news, Director Erik C. Blachford sold 791 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $34.80, for a total value of $27,526.80. Following the completion of the sale, the director owned 34,952 shares of the company’s stock, valued at approximately $1,216,329.60. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Bradley D. Owens sold 3,364 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $37.23, for a total transaction of $125,241.72. Following the sale, the general counsel owned 65,245 shares of the company’s stock, valued at approximately $2,429,071.35. The trade was a 4.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders sold 42,910 shares of company stock worth $1,605,732. 23.76% of the stock is currently owned by company insiders.

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.