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

Royal Bank of Canada boosted its holdings in Zillow Group, Inc. (NASDAQ:Z) by 39.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 169,350 shares of the financial services provider’s stock after buying an additional 48,102 shares during the period. Royal Bank of Canada’s holdings in Zillow Group were worth $7,007,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new position in shares of Zillow Group during the 4th quarter valued at $28,000. Flagship Harbor Advisors LLC acquired a new stake in Zillow Group in the 4th quarter valued at $43,000. IFC & Insurance Marketing Inc. acquired a new stake in Zillow Group in the 4th quarter valued at $68,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Zillow Group during the 4th quarter valued at about $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in Zillow Group by 34.5% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock worth $80,000 after buying an additional 300 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Zillow Group News Roundup

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?

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley set a $60.00 price objective on shares of Zillow Group in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings lowered shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada cut their price target on Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.75.

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 5,501 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $205,737.40. Following the completion of the transaction, the chief financial officer directly owned 68,315 shares of the company’s stock, valued at approximately $2,554,981. This trade represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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, Director Erik C. Blachford sold 791 shares of Zillow Group stock in a transaction on Monday, June 8th. The shares were sold at an average price of $34.80, for a total value of $27,526.80. Following the transaction, the director owned 34,952 shares in the company, valued at approximately $1,216,329.60. This trade represents a 2.21% 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. Insiders have sold 42,910 shares of company stock valued at $1,605,732 over the last 90 days. Corporate insiders own 23.76% of the company’s stock.

Zillow Group Trading Up 1.2%

Zillow Group stock opened at $34.14 on Wednesday. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 155.19, a PEG ratio of 1.44 and a beta of 1.98. The company’s 50-day moving average price is $32.96 and its two-hundred day moving average price is $40.91. Zillow Group, Inc. has a 52 week low of $29.23 and a 52 week high of $93.88.

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

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.