Occudo Quantitative Strategies LP Acquires 3,972 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Occudo Quantitative Strategies LP grew its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 38.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,361 shares of the technology company's stock after purchasing an additional 3,972 shares during the period. Occudo Quantitative Strategies LP's holdings in Zillow Group were worth $1,017,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in Zillow Group during the fourth quarter worth about $165,326,000. Arrowstreet Capital Limited Partnership grew its holdings in Zillow Group by 1,261.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock worth $18,454,000 after acquiring an additional 241,331 shares during the period. Virtu Financial LLC increased its stake in Zillow Group by 101.3% in the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock worth $29,775,000 after purchasing an additional 211,482 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Zillow Group in the 4th quarter worth about $14,916,000. Finally, Schonfeld Strategic Advisors LLC raised its position in Zillow Group by 2,728.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 96,801 shares of the technology company's stock valued at $6,858,000 after buying an additional 93,378 shares during the period. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Stock Performance

Zillow Group stock traded down $1.57 during midday trading on Monday, reaching $67.19. The stock had a trading volume of 187,607 shares, compared to its average volume of 561,369. The firm's fifty day simple moving average is $66.00 and its 200-day simple moving average is $71.70. The stock has a market capitalization of $16.30 billion, a P/E ratio of -142.96, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22. Zillow Group, Inc. has a 1-year low of $38.40 and a 1-year high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The business had revenue of $598.00 million for the quarter, compared to analyst estimates of $587.88 million. Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. The firm's revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, sell-side analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, CEO Jeremy Wacksman sold 10,984 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $757,676.32. Following the transaction, the chief executive officer now owns 171,517 shares in the company, valued at approximately $11,831,242.66. This represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dan Spaulding sold 5,534 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $381,735.32. Following the completion of the transaction, the insider now owns 68,889 shares in the company, valued at $4,751,963.22. This represents a 7.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,741 shares of company stock valued at $11,414,034. Corporate insiders own 17.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ZG. William Blair started coverage on Zillow Group in a research note on Monday, April 21st. They set a "market perform" rating on the stock. Wedbush reiterated an "outperform" rating and set a $90.00 price target (down from $100.00) on shares of Zillow Group in a report on Thursday, May 8th. Barclays cut their price target on Zillow Group from $64.00 to $60.00 and set an "underweight" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group cut their target price on Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Piper Sandler increased their price objective on Zillow Group from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $81.80.

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.