TB Alternative Assets Ltd. Has $24.99 Million Stock Position in Zillow Group, Inc. $Z

TB Alternative Assets Ltd. trimmed its stake in Zillow Group, Inc. (NASDAQ:Z) by 10.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 366,272 shares of the financial services provider’s stock after selling 40,846 shares during the period. Zillow Group accounts for about 4.1% of TB Alternative Assets Ltd.’s holdings, making the stock its 8th largest position. TB Alternative Assets Ltd.’s holdings in Zillow Group were worth $24,987,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in Z. Jain Global LLC acquired a new position in shares of Zillow Group during the third quarter valued at about $6,220,000. Rakuten Investment Management Inc. acquired a new stake in Zillow Group during the third quarter worth about $2,919,000. Y Intercept Hong Kong Ltd increased its stake in Zillow Group by 63.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 85,210 shares of the financial services provider’s stock valued at $6,565,000 after acquiring an additional 32,975 shares during the period. Vanguard Group Inc. increased its stake in Zillow Group by 0.3% during the third quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock valued at $1,777,841,000 after acquiring an additional 71,336 shares during the period. Finally, Coronation Fund Managers Ltd. acquired a new position in Zillow Group in the 3rd quarter valued at approximately $18,141,000. Institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling

In other news, CTO David A. Beitel sold 3,966 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $44.22, for a total value of $175,376.52. Following the transaction, the chief technology officer directly owned 136,690 shares of the company’s stock, valued at $6,044,431.80. The trade was a 2.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Wacksman sold 13,661 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $44.25, for a total value of $604,499.25. Following the sale, the chief executive officer owned 116,322 shares in the company, valued at approximately $5,147,248.50. This trade represents a 10.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,801 shares of company stock valued at $2,683,986 in the last ninety days. 25.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on Z shares. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods cut their target price on Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday, February 9th. Zelman & Associates raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, January 21st. Finally, Mizuho lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Zillow Group currently has a consensus rating of “Hold” and an average target price of $90.60.

Zillow Group Stock Down 2.2%

Shares of Zillow Group stock opened at $40.49 on Thursday. Zillow Group, Inc. has a 12-month low of $39.97 and a 12-month high of $93.88. The stock has a market capitalization of $9.71 billion, a P/E ratio of 449.94, a price-to-earnings-growth ratio of 2.31 and a beta of 2.10. The company has a 50-day simple moving average of $49.02 and a 200 day simple moving average of $64.61.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The firm had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. On average, equities analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

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.