Brad Gerstner Portfolio: Top 7 New Stock Picks

5. Zillow Group, Inc. (NASDAQ:Z)

Altimeter Capital’s Stake Value: $54,628,783

Number of Hedge Fund Holders: 60

Zillow Group, Inc. (NASDAQ:Z) ranks fifth on our list of seven new picks of Brad Gerstner, as of Q3 2024. The company is a prominent real estate marketplace with a range of mobile applications and websites. More than 200 million visit the company’s websites and mobile applications every month.

The company is using technology to make finding affordable living options a reality. On November 19, Zillow Group, Inc. (NASDAQ:Z) announced that its real-time affordability tool, BuyAbility, can allow customers to swiftly find homes on the platform within their budgets, especially for first-time buyers. Previously in May, the company released its open-source Fair Housing Classifier. The tool establishes guardrails to nurture unbiased and responsible behavior in real estate conversations using LLMs.

In the third quarter of 2024, Zillow Group, Inc. (NASDAQ:Z) reported strong earnings, with revenue growing by 17% year-over-year. The company takes pride in its customer-centric strategy and unparalleled tech solutions. Traffic to the company’s websites and apps was 223 million average monthly unique users and visits were nearly 2.4 billion in Q3 2024. Overall, Zillow Group, Inc. (NASDAQ:Z) is an emerging leader in the real estate space with its disruptive technologies and growing use of artificial intelligence and machine learning.