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Zillow (Z)

  • Tue, Feb. 10, 5:35 PM
  • Tue, Feb. 10, 8:54 AM
    • Under a digital marketing alliance between the two companies, Citigroup (NYSE:C) will have a boosted presence on Zillow (NASDAQ:Z), Zillow Mortgages, and Street Easy - Zillow's NYC-dedicated app.
    • Head of Global Mortgages at Citi, C.D. Davies:  “We are stepping up our digital presence in the real estate space to ensure we are a leading mortgage provider in the markets we serve." The bank of late has made a point of saying the focus of its consumer business going forward will be on the largest U.S. cities.
    • Source: Press Release
  • Tue, Feb. 3, 1:25 PM
    • Though the Nasdaq is only up 0.4%, a long list of tech firms are posting outsized gains today.
    • It's a good day for online real estate: Merger partners Zillow (Z +5%) and Trulia (TRLA +4.9%) are up sharply, as are Chinese online real estate plays SouFun (SFUN +5.2%), E-House (EJ +6.5%), and Leju (LEJU +3.8%).
    • Other major tech gainers include security software firm Imperva (IMPV +4.7%), gaming headset maker Turtle Beach (HEAR +6.6%), salvage auction site Liquidity Holdings (LQDT +7.4%), RF filter tech developer Resonant (RESN +10.7%), telecom equipment/SDN software vendor Cyan (CYNI +10.1%), Chinese CDN owner ChinaCache (CCIH +10.8%), application delivery controller vendor A10 Networks (ATEN +6.1%), Chinese sports lottery site (WBAI +7.6%), and unified communications hardware/software firm ShoreTel (SHOR +6.7%).
    • Earlier: Solar stocks soar as oil tops $51, CSIQ strikes deal
    • Earlier: 3D printing stocks routed after Stratasys warns
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  • Fri, Jan. 23, 12:46 PM
  • Fri, Jan. 23, 11:27 AM
    • Zillow (Z +11.6%) and Trulia (TRLA +13.2%) have skyrocketed in morning trading. The FTC staff has reportedly recommended approving the companies' all-stock merger.
    • Zillow/Trulia agreed last year not to close their deal before Feb. 1, to give the FTC time to thoroughly review. Earlier this month, industry insider Brad Inman reported hearing the FTC would sign off on the deal (as has been generally expected). The combined company's share of online agent advertising has been in focus.
    • Separately, Zillow has announced Zillow Pro for Brokers (a free program for real estate brokers that aims to improve listings and grow leads) now has over 5K nationwide partners, up over 2x since last July.
    | 1 Comment
  • Thu, Jan. 15, 12:36 PM
    • Merger partners Zillow (Z -7.5%) and Trulia (TRLA -7.6%) are among the biggest decliners on a day the Nasdaq is down 0.8%. Zillow has seen 1.1M shares change hands vs. a 3-month daily average of 1.35M; Trulia has seen 271K vs. a 3-month average of 547K.
    • Freddie Mac announced this morning mortgage rates had declined for the third straight week, with the average rate for a 30-year fixed-rate mortgage making a new 20-month low of 3.66%. The average 15-year rate fell below 3% for the first time since May 2013.
    • This month has seen Zillow roll out Data Dashboard, a listing management/reporting platform for brokers and agents meant to give more control over how listings are directed to Zillow.
    • The company hopes listings funneled through Data Dashboard will limit the damage done by the April expiration of a deal with listing provider ListHub. A Zillow spokeswoman recently said that if ListHub listings were pulled today, Zillow would lose "a few hundred thousand" of its 3.6M listings.
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  • Dec. 18, 2014, 2:37 PM
    • As expected, Zillow (Z -3.3%) and Trulia (TRLA -3.6%) shareholders have signed off on the companies' all-stock merger by overwhelming margins.
    • Regulators still need to sign off on the deal, which the companies expect will close in 1H15. Zillow previously agreed not to close the merger before Feb. 1, to give the FTC more time to review.
    • Trulia shareholders will receive 0.44 shares of the combined company for each Trulia share they own. Trulia shares currently trade at a 0.43x ratio to Zillow shares (implies a slight discount to the merger price).
    • Shares of both companies are selling off in spite of a strong market rally.
  • Dec. 16, 2014, 3:59 PM
    • Internet stocks have posted substantial losses after a morning market rally proved short-lived. The Nasdaq is down 1.2%.
    • In addition to Google, which has made new 52-week lows, Facebook (FB -3%), Twitter (TWTR -4.7%), Amazon (AMZN -3.5%), and Netflix (NFLX -3.2%) are among the underperforming names. Other decliners: Z -5.5%. TRLA -5.4%. MELI -5.4%. ZNGA -4.9%. ZU -3.2%. ANGI -3.4%.
    • The selloff comes even though Goldman upgraded its rating for the sector to Attractive from Neutral today. The firm noted Internet stocks are collectively down 16% over the last 12 months (maybe 18%-19% after today), and that forward EV/EBITDA multiples have contracted significantly.
    • Internet/social media ETFs: FDN, PNQI, SOCL
  • Dec. 5, 2014, 1:40 PM
    • Zillow's (NASDAQ:Z) site and apps had 74.3M monthly unique visitors in November, -10% M/M due to seasonality but +41% Y/Y. Y/Y growth was 42% in October, and 41% in Q3.
    • Merger partner Trulia (NYSE:TRLA) is naturally following Zillow higher. Last month, Zillow agreed not to close the merger before Feb. 1, to give the FTC more time to review it.
    | Comment!
  • Nov. 26, 2014, 12:58 PM
    • Facebook (FB +2.1%) and Twitter (TWTR +2.6%) are rallying on a sleepy pre-Thanksgiving trading day. The companies have respectively seen 21.9M and 16.1M shares traded thus far vs. 3-month averages of 38.3M and 28.1M.
    • Several other Internet stocks (both U.S. and Chinese) are also moving higher. Z +2.3%. TRLA +3%. BITA +5.1%. EJ +6.7%. SFUN +2.6%. VIPS +3.3%. SOHU +2.9%.
    • Facebook is at its highest levels since selling off in late October due to its Q4 revenue and 2015 spending guidance.
  • Nov. 19, 2014, 9:40 AM
    • Caledonia Funds' Michael Messara has made positive remarks about Zillow (Z +5.5%) at the Sohn Investment Conference, declaring the online real estate leader's shares could reach $770 (!).
    • Both Zillow and Trulia (TRLA +5.1%) are getting a lift from the remarks. Each company has already posted big gains over the last few trading days.
  • Nov. 17, 2014, 1:47 PM
    • For the second trading day in a row (previous), Zillow (Z +4.4%) and Trulia (TRLA +3.8%) are rallying.
    • Zillow's Monday volume (3.55M shares) is already more than 2x a 3-month average of 1.47M. Trulia's volume (944K shares) is nearly 50% above a 3-month average of 634K.
    • No major news regarding the companies has hit the wires. Zillow did recently announce it will shut down its Agentfolio unit (provides a communications platform for real estate agents and home-buyers) in March. "While there are hundreds of agents using the product daily, our customer base is unfortunately not large enough to continue supporting our loyal users," the company told clients in a message.
  • Nov. 14, 2014, 1:22 PM
    • Off sharply from the levels they saw around the time of their July merger announcement, Zillow (Z +7.1%) and Trulia (TRLA +7.3%) are rallying strongly today even as the Nasdaq barely budges. Volume has thus far been moderate.
    • Short-covering could be helping: Zillow and Trulia respectively had 30% and 21% of their floats shorted as of Oct. 31.
    • Both companies sold off following Trulia's Oct. 29 Q3 report, and did so again following Zillow's Nov. 5 Q3 report.
    | 1 Comment
  • Nov. 6, 2014, 9:14 AM
  • Nov. 5, 2014, 5:51 PM
    • Zillow (NASDAQ:Z) guides on its Q3 CC (webcast) for Q4 revenue of $89M-$90M, below a $91M consensus.
    • Q3 real estate revenue +86% Y/Y to $65.6M; mortgages revenue +24% to $7.1M; display (ad) revenue +30% to $16M.
    • Premier Agent net adds totaled 4,059, raising the total base to 60.877. Average revenue per advertiser rose to $349 from $264 a year ago.
    • Excluding acquisition-related costs, total GAAP costs/expenses rose 56% Y/Y to $91.7M.
    • As one would expect, all-stock merger partner Trulia (NYSE:TRLA) is following Zillow lower. Both companies also sold off following Trulia's Q3 report.
    • Q3 results, PR
  • Nov. 5, 2014, 4:32 PM
    • Zillow (NASDAQ:Z): Q3 EPS of $0.13 beats by $0.05.
    • Revenue of $88.6M (+66.2% Y/Y) beats by $0.6M.
    • Shares +2.5%.
    • Press Release
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Company Description
Zillow Group Incoperates the real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products to help people find vital information about homes and connect with local professionals.