Dorsal Capital Management LP Boosts Stock Position in Zillow Group, Inc. (NASDAQ:Z)

Dorsal Capital Management LP grew its holdings in Zillow Group, Inc. (NASDAQ:Z) by 4.7% in the 4th quarter, Holdings Channel reports. The fund owned 3,350,000 shares of the financial services provider’s stock after purchasing an additional 150,000 shares during the quarter. Zillow Group accounts for 5.9% of Dorsal Capital Management LP’s portfolio, making the stock its 3rd biggest position. Dorsal Capital Management LP’s holdings in Zillow Group were worth $248,068,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of Z. Ninety One UK Ltd boosted its stake in Zillow Group by 3.2% in the 4th quarter. Ninety One UK Ltd now owns 3,617,761 shares of the financial services provider’s stock worth $267,895,000 after purchasing an additional 111,231 shares during the period. Geode Capital Management LLC boosted its position in shares of Zillow Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,878,124 shares of the financial services provider’s stock worth $212,745,000 after buying an additional 28,728 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Zillow Group by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,540,831 shares of the financial services provider’s stock worth $114,109,000 after buying an additional 65,724 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Zillow Group by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,538,709 shares of the financial services provider’s stock valued at $113,941,000 after buying an additional 11,727 shares during the last quarter. Finally, Altimeter Capital Management LP lifted its stake in Zillow Group by 52.0% in the 4th quarter. Altimeter Capital Management LP now owns 1,300,738 shares of the financial services provider’s stock valued at $96,320,000 after acquiring an additional 445,158 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Zillow Group Stock Performance

Shares of NASDAQ:Z opened at $67.19 on Wednesday. Zillow Group, Inc. has a 52-week low of $39.05 and a 52-week high of $89.39. The company has a market capitalization of $16.30 billion, a P/E ratio of -142.96, a price-to-earnings-growth ratio of 9.24 and a beta of 2.23. The company has a 50-day simple moving average of $68.15 and a 200 day simple moving average of $73.42.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. As a group, equities analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Z has been the subject of several research reports. Morgan Stanley raised their price target on shares of Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Baird R W upgraded shares of Zillow Group to a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company upgraded shares of Zillow Group to a “hold” rating in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft raised their price objective on Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Wedbush reiterated an “outperform” rating and set a $100.00 target price on shares of Zillow Group in a report on Monday. Eight equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Zillow Group has an average rating of “Moderate Buy” and a consensus price target of $85.17.

Insiders Place Their Bets

In related news, insider Errol G. Samuelson sold 6,967 shares of Zillow Group stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $541,475.24. Following the completion of the sale, the insider now directly owns 127,467 shares of the company’s stock, valued at approximately $9,906,735.24. This trade represents a 5.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jun Choo sold 55,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the transaction, the chief operating officer now directly owns 86,853 shares in the company, valued at approximately $6,790,167.54. This represents a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,919 shares of company stock valued at $5,744,978 over the last ninety days. 23.76% of the stock is currently owned by company insiders.

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.