Optas LLC Acquires Shares of 3,702 Zillow Group, Inc. (NASDAQ:ZG)

Optas LLC bought a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,702 shares of the technology company's stock, valued at approximately $248,000.

Other large investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. increased its position in shares of Zillow Group by 4.9% in the fourth quarter. Vontobel Holding Ltd. now owns 17,208 shares of the technology company's stock valued at $1,219,000 after buying an additional 801 shares in the last quarter. ABC Arbitrage SA purchased a new position in Zillow Group during the fourth quarter valued at $1,265,000. Allworth Financial LP grew its position in shares of Zillow Group by 585.5% in the fourth quarter. Allworth Financial LP now owns 3,112 shares of the technology company's stock valued at $237,000 after purchasing an additional 2,658 shares during the period. Baillie Gifford & Co. increased its stake in shares of Zillow Group by 0.6% during the fourth quarter. Baillie Gifford & Co. now owns 92,025 shares of the technology company's stock worth $6,520,000 after purchasing an additional 509 shares in the last quarter. Finally, Truist Financial Corp raised its position in shares of Zillow Group by 67.9% during the 4th quarter. Truist Financial Corp now owns 6,196 shares of the technology company's stock worth $439,000 after purchasing an additional 2,506 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Price Performance

Shares of NASDAQ:ZG traded down $0.39 during midday trading on Thursday, reaching $65.96. 555,022 shares of the company's stock were exchanged, compared to its average volume of 558,172. The stock has a market cap of $15.93 billion, a price-to-earnings ratio of -194.00, a P/E/G ratio of 12.26 and a beta of 2.11. Zillow Group, Inc. has a fifty-two week low of $40.30 and a fifty-two week high of $86.58. The firm's 50 day simple moving average is $66.01 and its two-hundred day simple moving average is $70.91.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). The company had revenue of $598.00 million for the quarter, compared to analysts' expectations of $587.88 million. Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Equities research analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ZG has been the topic of several research reports. William Blair started coverage on Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating on the stock. Wells Fargo & Company initiated coverage on shares of Zillow Group in a research note on Monday, April 28th. They set a "mixed" rating and a $62.00 target price on the stock. The Goldman Sachs Group reduced their target price on shares of Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Canaccord Genuity Group decreased their price target on shares of Zillow Group from $86.00 to $76.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, Benchmark lowered their price target on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Zillow Group has an average rating of "Moderate Buy" and a consensus target price of $81.80.

Insider Activity at Zillow Group

In other Zillow Group news, Director Erik C. Blachford sold 965 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.35, for a total transaction of $67,887.75. Following the sale, the director now directly owns 35,474 shares in the company, valued at $2,495,595.90. This represents a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer Rock sold 5,997 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $68.06, for a total value of $408,155.82. Following the sale, the chief accounting officer now directly owns 58,320 shares in the company, valued at $3,969,259.20. This represents a 9.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,947 shares of company stock worth $7,199,000. Insiders own 17.14% of the company's stock.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.