Triasima Portfolio Management inc. Makes New Investment in Zillow Group, Inc. $Z

by · The Cerbat Gem

Triasima Portfolio Management inc. bought a new stake in Zillow Group, Inc. (NASDAQ:Z – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 28,605 shares of the financial services provider’s stock, valued at approximately $2,204,000.

Other hedge funds have also modified their holdings of the company. Root Financial Partners LLC purchased a new stake in Zillow Group in the third quarter valued at approximately $27,000. TD Private Client Wealth LLC raised its position in Zillow Group by 352.0% during the 2nd quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider’s stock worth $32,000 after buying an additional 352 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Zillow Group by 58.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 185 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Zillow Group by 25.1% in the second quarter. Farther Finance Advisors LLC now owns 792 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 159 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Zillow Group by 46.0% during the second quarter. GAMMA Investing LLC now owns 886 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 279 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price target on Zillow Group from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. JPMorgan Chase & Co. increased their target price on shares of Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Oppenheimer initiated coverage on Zillow Group in a research note on Monday, October 6th. They issued a “market perform” rating on the stock. Finally, BNP Paribas upgraded Zillow Group to a “strong-buy” rating in a report on Wednesday, January 14th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and an average target price of $93.83.

Get Our Latest Research Report on Zillow Group

Zillow Group Trading Down 2.5%

Z stock opened at $66.79 on Tuesday. The company has a market cap of $16.17 billion, a PE ratio of -477.07, a price-to-earnings-growth ratio of 3.80 and a beta of 2.07. Zillow Group, Inc. has a 12-month low of $57.51 and a 12-month high of $93.88. The stock has a 50-day moving average price of $70.42 and a two-hundred day moving average price of $76.29.

Zillow Group (NASDAQ:Z – Get Free Report) last released its earnings results on Thursday, October 30th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. The company had revenue of $729.00 million for the quarter, compared to analyst estimates of $670.28 million. Equities analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeremy Wacksman sold 10,855 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $69.99, for a total value of $759,741.45. Following the sale, the chief executive officer owned 134,712 shares in the company, valued at approximately $9,428,492.88. This trade represents a 7.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Erik C. Blachford sold 965 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $72.51, for a total transaction of $69,972.15. Following the completion of the sale, the director directly owned 33,543 shares of the company’s stock, valued at approximately $2,432,202.93. This trade represents a 2.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 67,511 shares of company stock worth $4,766,357 over the last 90 days. Company insiders own 23.76% of the company’s stock.

About Zillow Group

(Free Report)

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.

See Also

Want to see what other hedge funds are holding Z? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zillow Group, Inc. (NASDAQ:Z – Free Report).