Quantinno Capital Management LP Grows Stake in Zillow Group, Inc. $Z

Quantinno Capital Management LP grew its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 455.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 641,618 shares of the financial services provider’s stock after acquiring an additional 526,142 shares during the period. Quantinno Capital Management LP owned about 0.28% of Zillow Group worth $26,550,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Baillie Gifford & Co. lifted its stake in Zillow Group by 11.4% in the fourth quarter. Baillie Gifford & Co. now owns 739,270 shares of the financial services provider’s stock valued at $50,433,000 after purchasing an additional 75,682 shares during the last quarter. Tiger Global Management LLC increased its position in 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 worth $304,927,000 after buying an additional 1,312,000 shares during the last quarter. IFP Advisors Inc increased its position in Zillow Group by 17,458.4% in the fourth quarter. IFP Advisors Inc now owns 73,921 shares of the financial services provider’s stock worth $5,043,000 after buying an additional 73,500 shares during the last quarter. Coronation Fund Managers Ltd. raised its stake in shares of Zillow Group by 130.6% in the first quarter. Coronation Fund Managers Ltd. now owns 349,503 shares of the financial services provider’s stock valued at $14,462,000 after buying an additional 197,948 shares during the period. Finally, Weiss Asset Management LP bought a new stake in shares of Zillow Group in the first quarter valued at $1,743,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Price Performance

NASDAQ:Z opened at $34.06 on Friday. The company has a market cap of $7.79 billion, a P/E ratio of 136.24, a P/E/G ratio of 1.44 and a beta of 1.98. The stock’s fifty day moving average price is $33.13 and its two-hundred day moving average price is $42.70. Zillow Group, Inc. has a 1 year low of $29.23 and a 1 year high of $93.88.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. On average, analysts expect that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 3,078 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the completion of the transaction, the insider owned 49,696 shares in the company, valued at $1,858,630.40. This trade represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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, 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 value of $125,241.72. Following the completion of the transaction, the general counsel owned 65,245 shares of the company’s stock, valued at approximately $2,429,071.35. This represents a 4.90% decrease in their position. The SEC filing for this sale provides additional information. 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 worth $1,605,732 in the last three months. 25.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Zacks Research upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Royal Bank Of Canada lowered their price objective on Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Keefe, Bruyette & Woods cut their target price on shares of Zillow Group from $50.00 to $37.00 and set a “market perform” rating for the company in a research report on Monday, July 13th. Finally, UBS Group cut their target price on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.38.

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.