Geode Capital Management LLC Sells 24,455 Shares of Zillow Group, Inc. (NASDAQ:ZG)

Geode Capital Management LLC reduced its position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,000,605 shares of the technology company's stock after selling 24,455 shares during the period. Geode Capital Management LLC owned about 0.43% of Zillow Group worth $70,946,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Zillow Group during the fourth quarter valued at approximately $165,326,000. State Street Corp lifted its holdings in shares of Zillow Group by 0.4% during the 3rd quarter. State Street Corp now owns 805,279 shares of the technology company's stock valued at $49,871,000 after buying an additional 2,832 shares during the period. Virtu Financial LLC boosted its stake in shares of 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 buying an additional 211,482 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Zillow Group by 1,261.3% in 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. Finally, Great Lakes Advisors LLC grew its holdings in shares of Zillow Group by 2.8% in the fourth quarter. Great Lakes Advisors LLC now owns 228,934 shares of the technology company's stock worth $16,220,000 after acquiring an additional 6,319 shares during the period. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ZG shares. Cantor Fitzgerald raised their target price on Zillow Group from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Piper Sandler reduced their target price on shares of Zillow Group from $93.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, February 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $88.00 price target on shares of Zillow Group in a research note on Wednesday, February 12th. Susquehanna upped their price objective on Zillow Group from $75.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, KeyCorp lowered their target price on Zillow Group from $95.00 to $85.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $81.05.

Zillow Group Trading Up 2.2 %

Shares of ZG stock traded up $1.34 on Tuesday, reaching $63.06. The company's stock had a trading volume of 371,376 shares, compared to its average volume of 578,749. The stock's fifty day simple moving average is $71.02 and its 200-day simple moving average is $70.77. Zillow Group, Inc. has a 1 year low of $38.06 and a 1 year high of $86.58. The company has a market capitalization of $15.30 billion, a price-to-earnings ratio of -134.17, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. Equities research analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 2,854 shares of the firm's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the completion of the sale, the insider now owns 142,636 shares of the company's stock, valued at $10,460,924.24. This trade represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jun Choo sold 1,277 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the sale, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,750,215.16. The trade was a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,919 shares of company stock worth $7,869,478 over the last ninety days. Company 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.