OP Asset Management Ltd Buys New Holdings in Zillow Group, Inc. $Z

OP Asset Management Ltd purchased a new stake in shares of Zillow Group, Inc. (NASDAQ:Z) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,293 shares of the financial services provider’s stock, valued at approximately $716,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Zillow Group in the 4th quarter valued at about $28,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Zillow Group during the 4th quarter worth about $43,000. IFC & Insurance Marketing Inc. acquired a new stake in Zillow Group during the 4th quarter worth approximately $68,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Zillow Group during the 4th quarter worth approximately $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in Zillow Group by 34.5% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock valued at $80,000 after buying an additional 300 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $37.97, for a total transaction of $111,593.83. Following the completion of the sale, the insider owned 134,039 shares in the company, valued at $5,089,460.83. This trade represents a 2.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,078 shares of Zillow Group stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the sale, the insider owned 49,696 shares in the company, valued at $1,858,630.40. This represents a 5.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 42,910 shares of company stock valued at $1,605,732 in the last three months. 23.76% of the stock is currently owned by company insiders.

Zillow Group Price Performance

Shares of Z stock opened at $31.52 on Wednesday. Zillow Group, Inc. has a 12 month low of $29.23 and a 12 month high of $93.88. The firm has a market capitalization of $7.21 billion, a P/E ratio of 126.08, a P/E/G ratio of 1.34 and a beta of 1.97. The company’s fifty day moving average price is $37.21 and its two-hundred day moving average price is $48.41.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.10 million. On average, sell-side analysts anticipate that Zillow Group, Inc. will post 0.9 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on Z. Weiss Ratings cut shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Royal Bank Of Canada cut their target price on shares of Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 10th. Keefe, Bruyette & Woods reduced their target price on shares of Zillow Group from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Thursday, May 7th. Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, Wall Street Zen upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average target price of $76.00.

Trending Headlines about Zillow Group

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

• Negative Sentiment: Several law firms, including Rosen Law Firm, Kahn Swick & Foti, Pomerantz, Glancy Prongay, Berger Montague, and Bleichmar Fonti & Auld, announced or reminded investors about class-action lawsuits against Zillow over alleged securities fraud tied to anticompetitive agreement disclosures and regulatory risk. Article: Z, ZG Investors Have Opportunity to Lead Zillow Group, Inc. Securities Fraud Lawsuit Filed by The Rosen Law Firm
• Negative Sentiment: Investors continue to be encouraged to file claims or seek lead plaintiff status, signaling the lawsuit campaign is active and could weigh on sentiment while legal costs and potential liabilities remain uncertain. Article: Zillow Group Securities Fraud Class Action Arising from Alleged Anticompetitive Agreement and Related Regulatory Risks
• Negative Sentiment: Separately, a Fast Company report said about two-thirds of Zillow’s Chicago listings abruptly disappeared amid a dispute with Midwest Real Estate Data, underscoring operational friction that could hurt listing coverage if the issue spreads. Article: Zillow just lost most of its Chicago listings. Is the rest of the country next?

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.