|Over a week ago|
Zillow call volume above normal and directionally bullish » 14:2504/0604/06/21
Bullish option flow…
Bullish option flow detected in Zillow with 23,780 calls trading, 3x expected, and implied vol increasing almost 5 points to 68.97%. Sep-21 120 calls and May-21 150 calls are the most active options, with total volume in those strikes near 12,700 contracts. The Put/Call Ratio is 0.32. Earnings are expected on May 6th.
Zillow Group initiated with an Outperform at Evercore ISI » 16:1704/0504/05/21
Evercore ISI analyst Mark…
Evercore ISI analyst Mark Mahaney initiated coverage of Zillow Group with an Outperform rating and $179 price target. He views Zillow as "one of the largest beneficiaries of the robust housing market" and also sees the company's recent IMT margin inflection point and improving iBuying unit economics as "strong signals to justify" the current valuation, the analyst tells investors.
February housing data strongest since 2006, says Piper Sandler » 13:4203/2203/22/21
U.S. Existing Home Sales…
U.S. Existing Home Sales data was released this morning, with sales of 364,000 for February or up 8.7% year-over-year, Piper Sandler analyst Thomas Champion tells investors in a research note. The 2021 February sales result is the strongest performance for the month we have seen since 2006, says the analyst. Champion notes that inventory remains constrained, again falling below three months supply, while pricing remains elevated at up 15.8% year-over-year. The analyst sees today's data as "mostly reinforcing" constructive view of the real estate industry into 2021. He believes Redfin (RDFN) and Zillow Group (ZG) face positive tailwinds from the real estate market.
Jefferies sees Zillow benefitting from 'even stronger' U.S. housing market » 09:1403/2203/22/21
Jefferies analyst Brent…
Jefferies analyst Brent Thill said in a note to investors that the firm's survey of about 1,250 U.S. adults supports an "even stronger" housing market in 2021, noting that 27% of respondents said they plan to buy a home in 2021, which is "more than double" the 12% who said they purchased in 2020. Zillow, as the "dominant online real estate portal," can capitalize on elevated demand while he also sees more home sellers helping expand inventory for its iBuying segment, Thill tells investors. He keeps a Buy rating and $215 price target on Zillow shares.
|Over a month ago|
Zillow Group plans to hire more than 2,000 employees nationwide in 2021 » 09:0103/1103/11/21
Zillow Group announced…
Zillow Group announced its plan to hire more than 2,000 employees nationwide in 2021, increasing its total workforce by approximately 40%. This significant hiring goal was sparked by a year of impressive growth across the business and a historic year in the real estate industry. The majority of the new or coming-soon roles in tech, mortgage and loans, product and software development and more are categorized as remote and hybrid positions -- open to applicants across the country. New roles also include a mix of in-office and field roles.
Deutsche Bank to hold a virtual conference » 10:3103/1003/10/21
CLNY, GCI, CMCSA, OUT, QTS, GTN, NWSA, Z, ZG, VVNT, IHRT, EQIX, WISH, DLR
Media, Internet and…
Media, Internet and Telecom Virtual Conference will be held on March 8-10.
REX confirms filing federal antitrust complaint in Seattle against Zillow, NAR » 14:0603/0903/09/21
REX, a real estate…
REX, a real estate technology company, confirmed in a press release that it has filed a federal antitrust complaint in Seattle, Washington against Zillow, Trulia, and the National Association of Realtors, or NAR. In addition to lodging the antitrust complaint in federal court, REX filed a preliminary injunction motion asking for immediate relief. According to REX, Zillow recently "quietly began obtaining brokerage licenses throughout the country and then joined NAR and local associations. In January, as a part of its cooperation with NAR and MLSs, Zillow began moving homes out of its initial search results for sellers who chose not to use agents adhering to the NAR and local multiple listing service (MLS) practices which hike fees and lower customer service. REX is fighting against second-class status for anyone who wants to sell outside the NAR/MLS regime." REX CEO Jack Ryan said: "This case builds on the DOJ's recent antitrust settlement with NAR/MLSs that beat back some anticompetitive practices. We believe this litigation will define whether technology will serve and protect Big Brokers and the NAR cartel or whether it will make good on its promise of greater ease, service, transparency and lower commission fees for consumers."
Zillow tells CNBC claims in Rex lawsuit 'without merit' » 12:0103/0903/09/21
Zillow said in a response…
Zillow said in a response issued to CNBC regarding news of a lawsuit against the company filed by Rex Homes that the company is "aware" of the lawsuit, which contains claims that are "without merit." Zillow plans to defend itself against the meritless claims made in the suit, the company added in its statement to CNBC.
Startup Rex Homes files antitrust complaint against Zillow, Politico reports » 11:0103/0903/09/21
ZG, Z, RDFN
Real estate startup Rex…
Real estate startup Rex Homes is filing a federal antitrust lawsuit against Zillow (ZG) and privately-held Trulia over their move to favor listings posted by agents associated with the National Association of Realtors, according to Politico's Leah Nylen. Because NAR's own platform, Realtor.com, already limits listings to its members, three out of the four top platforms now funnel consumers to homes with NAR agents, Rex's general counsel Mike Toth said, according to the report, which noted that Redfin (RDFN) "is the exception." Reference Link
Zillow Group names Jeremy Wacksman as COO, Susan Daimler as president » 09:1702/2202/22/21
Zillow Group announced…
Zillow Group announced that Jeremy Wacksman has been promoted to COO and Susan Daimler has been promoted to president of Zillow as the company works to reimagine real estate. The executive promotions are part of an organizational alignment that will centralize Zillow's product, partner, engineering and operations teams across the company with a greater focus on the end-to-end customer experience, including solutions for buyers, sellers and renters. In his new COO role, Wacksman will be responsible for creating more connectivity among Zillow's lines of business in order to seamlessly serve Zillow customers on their moving journey. He will continue to report to Chief Executive Officer and co-founder Rich Barton. In her new role as president of Zillow, Daimler will report to Wacksman and lead an integrated product team for buyers and sellers, which will help institutionalize the company's customer focus as Zillow grows and scales. Daimler will continue to oversee the Premier Agent business, championing and focusing on Zillow's partner agents as a key element of the company's customer-focused strategy. Additionally, Daimler will continue to manage StreetEasy and the corporate relations function.