Approximately two months ago we published a report backed by a review of more than 2,000 listings in 50+ markets on Zillow (“Z: Look at the Listings, the Zillow Ecosystem Might Not Be What You...
READ MORE >Now it’s starting to make sense. Now we understand why Zillow agreed to pay $3.5B for a company which by almost every measure is 2nd or 3rd rate in the listings aggregation space. Now we are...
READ MORE >We recognize that there are rumors in the market that Zillow could be in talks to acquire Trulia. We will have more extensive comments shortly, but we wanted to provide you with some insight on what the agent community...
READ MORE >“You can observe a lot by watching”- Yogi BerraAs Zillow shares climb to levels we previously never thought possible (amazingly in the absence of any material new news) we have spent...
READ MORE >Was it good enough? Time and time again that was the question we were attempting to answer in our conversations with investors after Zillow reported 1Q14 results and provided initial 2Q14 guidance yesterday. The trading action after hours...
READ MORE >In the context of what has transpired in the broader Internet space over the past two weeks, Zillow shareholders have to be feeling pretty good about themselves, or at the very least quite fortunate. After all, the 8-10% sell-off in Z...
READ MORE >Well, now we know why…. In early December, TRLA announced a convertible notes offering which was eventually upsized to $200 million. The notes convert at $35.93/share, or roughly 2% below where TRLA shares closed yesterday. The timing of the notes offering...
READ MORE >It all sounds so intoxicating doesn’t it? To company management (and presumably bulls on the stock) Trulia is a leading rapidly growing mobile based residential real estate search platform integrated with a cloud based CRM system. How many investor...
READ MORE >“There’s something brewing here that really makes me think that the people in this room need to rethink their role. Some of you[MLS representatives] may be in denial. You don’t know that there’s a...
READ MORE >It seems to happen all of the time in growth industries, particularly among small and mid-cap companies. A leader in said growth industry goes public, creates a successful track record, which engenders investor enthusiasm about the company and...
READ MORE >Almost a year to the day from when we first introduced Z as a long idea, we’re closing it out with a 72% gain. It’s been a wild ride to say the least. Was it really only 6-months ago when the stock ticked $23.00 following...
READ MORE >Didn’t we go through the same experience last quarter? Zillow beat revenue and EPS for 4Q12, operating metrics were stellar, and management guided lower in large part due to increased expectations for...
READ MORE >If you told us heading into the earnings print that Zillow would have added more than 4,000 premier agent subscribers in the third quarter, we almost certainly would have expected Zillow shares to trade higher. Obviously that has not...
READ MORE >In the housing depression over the past five years, there has been one segment of the marketplace that has performed quite well – rentals. Historically, the rental property market has been largely comprised of...
READ MORE >Zillow shares traded off sharply after hours yesterday following earnings results that were good, but perhaps not strong enough relative to “whisper numbers”. Additionally, the company filed a shelf offering which included the option for significant stock holders to sell as much as 3.6MM...
READ MORE >Some investors might be perplexed by the strength in Zillow shares after hours. Yes, the company did report strong 1Q12 results that handily beat estimates. Yes, the operating metrics delivered in 1Q12 were fantastic and well above what most...
READ MORE >This is a report about housing. This is also a report about a company that has the potential to transform the home purchase process in the US. Every Spring for each of the past three years we have...
READ MORE >SELL/SHORT
$4
SELL
$50
SELL/SHORT
$45
SHORT
$18
SELL/SHORT
$5
SELL/SHORT
$42
LONG
$75
LONG
$128
SELL/SHORT
$50
SELL/SHORT
$50
LONG
$5.50
SHORT
$50
SHORT
$28
LONG
$65
LONG
$37
PAIR TRADE
$10
PAIR TRADE
$30
LONG
$35
SHORT
$35
SELL/SHORT
$10
SHORT
$101
SHORT
$15
SHORT
$0
SHORT
$9
SHORT
$0
PAIR - LONG BGG/SHORT TTC
25%
PAIR - LONG BGG/SHORT TTC
25%
SHORT
$14.00
SHORT
$22
SHORT
$15
SHORT
$20
SHORT
$31
SHORT
$35
SHORT
$30
PAIR - LONG KNL/SHORT MLHR
25%
SHORT
$100
LONG
$8
LONG
$20
SHORT
$22
PAIR - LONG CSGP/SHORT LOOP
40%
LONG
$35
SHORT
$275
SHORT
$0