Coronation Fund Managers Ltd. Increases Stake in Zillow Group, Inc. (NASDAQ:Z)

Coronation Fund Managers Ltd. boosted its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 7.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 273,408 shares of the financial services provider’s stock after purchasing an additional 18,250 shares during the period. Coronation Fund Managers Ltd. owned approximately 0.12% of Zillow Group worth $12,683,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Garde Capital Inc. raised its stake in shares of Zillow Group by 60.0% in the second quarter. Garde Capital Inc. now owns 310,247 shares of the financial services provider’s stock worth $14,392,000 after purchasing an additional 116,340 shares during the last quarter. Quarry LP purchased a new stake in shares of Zillow Group in the 2nd quarter valued at $61,000. Creative Planning increased its stake in shares of Zillow Group by 29.4% in the second quarter. Creative Planning now owns 18,581 shares of the financial services provider’s stock worth $862,000 after acquiring an additional 4,217 shares during the period. Algert Global LLC acquired a new stake in shares of Zillow Group in the second quarter worth $564,000. Finally, Scientech Research LLC purchased a new position in shares of Zillow Group during the second quarter worth $315,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Zillow Group Trading Up 1.3 %

Shares of Z stock opened at $64.65 on Wednesday. Zillow Group, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $68.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The stock’s fifty day moving average is $55.12 and its two-hundred day moving average is $48.87. The firm has a market capitalization of $15.27 billion, a P/E ratio of -93.70 and a beta of 1.94.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm had revenue of $572.00 million for the quarter, compared to the consensus estimate of $539.74 million. Research analysts expect that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on Z shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a report on Thursday, August 8th. UBS Group raised shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Cantor Fitzgerald raised shares of Zillow Group to a “hold” rating in a report on Thursday, September 5th. Craig Hallum upgraded shares of Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.20.

Insider Activity at Zillow Group

In related news, General Counsel Bradley D. Owens sold 752 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total transaction of $39,953.76. Following the completion of the transaction, the general counsel now owns 35,259 shares of the company’s stock, valued at approximately $1,873,310.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Bradley D. Owens sold 752 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the transaction, the general counsel now owns 35,259 shares of the company’s stock, valued at approximately $1,873,310.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jennifer Rock sold 4,050 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $49.23, for a total value of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares of the company’s stock, valued at $3,923,335.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,999 shares of company stock worth $11,780,363. Company insiders own 23.76% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.