Coatue Management 13F: New $23M Stake in Zillow (Z)

Coatue Management has taken a new position in Zillow Group, Inc. (NasdaqGS: Z) as revealed in its latest 13F filing with the SEC. The hedge fund acquired 739,700 shares of the real estate technology company, valued at approximately $24.6 million. This is a fresh investment for Coatue, as it previously held no shares in Zillow.

What Changed in Coatue Management's Zillow Group, Inc. Position

Coatue Management initiated its investment in Zillow Group by purchasing 739,700 shares, marking a new stake in the company. This acquisition is notable as it reflects Coatue's interest in entering the real estate technology sector through Zillow, with the shares valued at $24.6 million based on the filing.

Other Institutional Activity in Zillow Group, Inc.

Several other institutional investors have also adjusted their positions in Zillow Group. Caledonia (Private) Investments Pty Ltd reduced its holdings by 190,000 shares, now holding approximately 25.9 million shares worth $1.07 billion. Meanwhile, Capital World Investors increased its stake by 3,369,703 shares, bringing its total to about 14.2 million shares valued at $587.4 million. Vanguard Portfolio Management LLC established a position with 14,010,084 shares valued at $579.7 million. Independent Franchise Partners LLP added 2,244,024 shares, totaling 13.2 million shares worth $546.1 million. BlackRock, Inc. also slightly increased its holdings by 29,217 shares, now owning 10 million shares valued at $414.1 million.

Zillow Group, Inc. Stock Down 1.2%

Shares of Zillow Group, Inc. are trading at around $33.26. The company has a market capitalization of approximately $7.6 billion. Its P/E ratio stands at 133.04, reflecting its current earnings performance, while the forward P/E is a more modest 11.02. The stock has seen a 52-week low of $31.49 and a high of $93.88. Zillow's beta is 1.941, indicating higher volatility compared to the market. The company's 50-day moving average is $39.62, and its 200-day moving average is $59.20.

Recent Earnings

In its recent earnings report, Zillow Group posted revenue of $2.69 billion, with a growth rate of 18.4%. The company reported earnings per share (EPS) of $0.25. Zillow's net margin is 2.27%, and its return on equity (ROE) is 1.33%. The next earnings release is scheduled for August 5, 2026.

Insider Buying and Selling at Zillow Group, Inc.

Several insiders at Zillow Group have sold shares recently, with transactions occurring under Rule 10b5-1 plans. On June 8, 2026, Erik Blachford sold 791 shares at an average price of $34.80. CEO Jeremy Wacksman sold 9,072 shares on May 22, 2026, at $36.54 per share. On May 18, 2026, Chief People Officer Dan Spaulding and CFO Jeremy Hofmann sold 3,078 shares and 5,501 shares, respectively, at $37.40 per share.

Analysts Set New Price Targets

On May 7, 2026, JP Morgan maintained its buy rating on Zillow Group, setting a price target of $76. Keefe, Bruyette & Woods, on the same day, maintained a hold rating with a price target of $50. The consensus among analysts is a hold recommendation, with a mean price target of $60.50 based on six analyst opinions.

About Zillow Group, Inc.

Zillow Group, Inc. operates a real estate application and website that connects consumers with technology, agents, and loan officers in the U.S. The company, headquartered in Seattle, WA, offers services through its Residential, Mortgages, Rentals, and Other segments. It provides marketing solutions for real estate agents, mortgage originations, and advertising. Founded in 2004, Zillow is led by CEO Jeremy Wacksman and employs over 7,000 people.

Bottom Line

Coatue Management's decision to invest in Zillow Group, Inc. marks a significant new stake in the real estate technology sector. Investors often track such 13F filings to gauge fund managers' confidence in a company's future. However, it's important to remember that these filings reflect past positions and may not indicate current holdings.