ZG

LONG

ZILLOW GROUP INC

Funds

Score

4.50

vs SPY

-30.9%

Stock return (since Q-end)

-14.6%

SPY return (since Q-end)

+16.3%

Current price

$35.36

News Summary

Negative

Zillow delivered a Q1 2026 earnings beat with 18% revenue growth and a dramatic profitability turnaround ($61M trailing net income vs. $112M loss a year prior), but Q2 guidance disappointed and a federal judge denied the company's motion to dismiss in the FTC antitrust lawsuit, allowing claims to proceed to discovery. The antitrust case represents a material overhang, compounded by analyst downgrades and Zillow's admission that it failed to report the Redfin deal to the government as legally required.

Red flags

•FTC antitrust lawsuit motion to dismiss denied on May 7, 2026; case proceeds to discovery with plausible claims found by federal judge
•Zillow admitted non-compliance with Hart-Scott-Rodino filing requirement for the $100M Redfin exclusive listings deal
•Q2 2026 guidance midpoint ($757.5M) below analyst consensus ($760.9M); shares fell 7.8% post-earnings
•Multiple analyst price target cuts following earnings: Mizuho reduced from $65 to $53 (neutral), Barclays from $58 to $54 (equal weight)
•Antitrust complaint alleges partnership harmed competition; Zillow's rebuttal that Redfin was financially weak may not constitute a legal defense

Funds Buying (3)

Fund	Manager	Shares Held	∆ Shares	Position Value	QoQ	Status
Tiger Global	Chase Coleman	1.0M	+1.0M	$42.4B	—	NEW
Coatue Management	Philippe Laffont	328K	+328K	$13.6B	—	NEW
Point72	Steve Cohen	321K	+321K	$13.3B	—	NEW

Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter.