5,535 Shares in Zillow Group, Inc. $ZG Bought by Trexquant Investment LP

Key Points

• Trexquant Investment LP has acquired a new position in Zillow Group, purchasing 5,535 shares valued at approximately $370,000 in the first quarter.
• Several institutional investors have also increased their stakes in Zillow, with Sone Capital Management LLC investing over $11 million and GAMMA Investing LLC raising its position by 9,124.2% to acquire 122,220 shares.
• Zillow Group's stock has seen a recent decline of 3.1% and reported earnings of $0.40 per share, which was below analysts' expectations of $0.44 per share for the last quarter.

Trexquant Investment LP bought a new position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,535 shares of the technology company's stock, valued at approximately $370,000.

Other hedge funds have also modified their holdings of the company. National Bank of Canada FI boosted its position in shares of Zillow Group by 79.4% in the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock worth $33,000 after acquiring an additional 216 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of Zillow Group in the first quarter worth approximately $42,000. CX Institutional acquired a new stake in shares of Zillow Group in the first quarter worth approximately $46,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Zillow Group in the fourth quarter worth approximately $70,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Zillow Group by 33.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock worth $75,000 after acquiring an additional 280 shares during the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ZG. Canaccord Genuity Group raised their target price on shares of Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Barclays restated an "underweight" rating and issued a $66.00 price target (up previously from $60.00) on shares of Zillow Group in a report on Thursday, August 7th. DA Davidson raised their price target on shares of Zillow Group from $85.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Susquehanna restated a "neutral" rating on shares of Zillow Group in a report on Friday, August 8th. Finally, KeyCorp restated an "overweight" rating and issued a $92.00 price target (up previously from $90.00) on shares of Zillow Group in a report on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $85.52.

Insider Activity at Zillow Group

In other news, Director April Underwood sold 3,621 shares of Zillow Group stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $90.12, for a total transaction of $326,324.52. Following the sale, the director owned 483 shares in the company, valued at $43,527.96. This trade represents a 88.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 25,000 shares of Zillow Group stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the sale, the chief financial officer owned 84,146 shares in the company, valued at $7,572,298.54. This represents a 22.91% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 657,087 shares of company stock valued at $56,286,479. 17.14% of the stock is currently owned by corporate insiders.

Zillow Group Price Performance

NASDAQ ZG traded down $1.41 during mid-day trading on Friday, hitting $84.34. The company's stock had a trading volume of 436,576 shares, compared to its average volume of 508,858. The firm has a market capitalization of $20.43 billion, a P/E ratio of -324.38, a price-to-earnings-growth ratio of 23.49 and a beta of 2.02. The stock's fifty day simple moving average is $78.98 and its two-hundred day simple moving average is $71.31. Zillow Group, Inc. has a 52-week low of $55.08 and a 52-week high of $88.45.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The firm had revenue of $655.00 million for the quarter, compared to analysts' expectations of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 EPS. On average, equities analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Zillow Group Company Profile

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.