SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 7.1% Passive Stake in Zillow Group Inc. Class C Capital Stock

FMR LLC and Abigail P. Johnson have filed an amended Schedule 13G, reporting a beneficial ownership of 7.1% of Zillow Group Inc.'s Class C Capital Stock as of March 31, 2025.

Summary

• FMR LLC and Abigail P. Johnson collectively beneficially own 12,938,917.12 shares of Zillow Group Inc.'s Class C Capital Stock.
• This ownership represents 7.1% of the total outstanding Class C Capital Stock.
• FMR LLC holds sole voting power over 12,783,875.79 shares and sole dispositive power over 12,938,917.12 shares.
• Abigail P. Johnson, as a control person of FMR LLC, is also deemed to beneficially own the same 12,938,917.12 shares with sole dispositive power.
• The filing indicates that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Zillow Group Inc.
• Several FMR LLC subsidiaries, including Fidelity Management & Research Company LLC, are identified as entities that beneficially own shares, with Fidelity Management & Research Company LLC owning 5% or greater of the outstanding shares.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive. While a Schedule 13G is a routine disclosure, the continued significant stake by a major institutional investor like FMR LLC implies a vote of confidence in Zillow Group Inc. from a long-term, passive investment perspective. There are no negative implications or changes in control indicated.

Positives

• The disclosure of a significant 7.1% stake by a major institutional investor like FMR LLC indicates continued confidence and long-term interest in Zillow Group Inc.'s Class C Capital Stock.
• The passive nature of the investment, as stated in the filing, suggests that FMR LLC is not seeking to influence or change the control of the issuer, which can provide stability.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding Zillow Group Inc.'s future performance or operations.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

FMR LLC, a prominent asset management firm, maintaining a significant passive stake in Zillow Group Inc. aligns with the typical investment strategies of large institutional investors who seek long-term positions in established companies within their respective sectors, such as the real estate technology industry.

Stakeholder Impact

• Shareholders: The continued significant ownership by a major institutional investor like FMR LLC may be viewed positively, signaling institutional confidence in the company's long-term prospects.

Key Dates

Keywords

Zillow Group Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Class C Capital Stock, Institutional Investor, SEC Filing, Passive Investment, Real Estate Technology