Who owns zillow stock

The housing market dried up for a brief time early last year, and then skyrocketed as the closing of offices and slowdown in business activity in cities led people to move to locations they deemed more desirable. Prices ran up, setting records in many markets around the country. Zillow was able to make money selling homes at high prices relative to where it purchased them, but at the same time the company was ramping up its buying.

The iBuying process allows homeowners to sell on Zillow instantly for cash rather than going through a broker and dealing with an extended bidding and closing process. After purchasing a home, Zillow would invest in repairs and maintenance and, even when factoring in all those costs, try to sell at a profit. When the labor market tightened and supply chain bottlenecks sent costs for supplies soaring, Zillow's already thin margins melted away.

Add to that a housing market that flattened out or stopped increasing at the rate Zillow expected and the company found itself drowning in a pool of underwater assets. Barton said the company has learned that it can't sufficiently trust its pricing model, so it's best to exit before jeopardizing the whole enterprise.

Analysts on Friday swiftly downgraded the stock. Piper Sandler made the same cut to its recommendation in its report "ZOffers Mothballed," as the company heads back "to its roots as an asset-lite model. Stifel Nicolaus and KeyBanc opted for the same play on words in maintaining the equivalent of hold ratings on Zillow shares. Stifel headlined its note, "From flipping to flopping," while KeyBanc went with "Flipping is a flop.

Zillow said it bought 9, homes in the quarter and sold only 3, More Must read. Sector Other Real Estate Services. Connections : Zillow Group, Inc. Richard Barton. Susan Daimler. Erik C. COM N. Lloyd Frink. All rights reserved. Show password.

Add to my list Report. Kitchen features that help you prep for Thanksgiving and boost your home's value. Z, ZG on Behalf of Investors. Business Summary. The Homes segment provides financial results of purchase and sale of homes through Zillow Offers and the financial results from title and escrow services through Zillow Closing Services.

The IMT segment includes the financial results for the premier agent, rentals and new construction marketplaces, dotloop, display, and other advertising and business software solutions.

The Mortgages segment includes financial results for mortgage originations through Zillow Home Loans, advertising sold to mortgage lenders and other mortgage professionals, as well as Mortech mortgage software solutions. Number of employees : 5 people. Sales per Business. Sales per region. Alireza Farhoush. Members of the board. Gordon Sheridan Stephenson. April Underwood. Claire Cormier Thielke. US-1 Zillow Group, Inc.

Company contact information. Brand Portfolio. In partnership with. More brands of Zillow Group, Inc. Real Estate. Real Estate Operations. Real Estate Services. Other Real Estate Services.