Summit Global Investments Makes New Investment in Zillow Group, Inc. (NASDAQ:ZG)

Summit Global Investments purchased a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,134 shares of the technology company’s stock, valued at approximately $364,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in Zillow Group by 70.2% during the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after buying an additional 172 shares during the period. Asset Dedication LLC acquired a new position in shares of Zillow Group during the fourth quarter worth $47,000. Assetmark Inc. lifted its holdings in shares of Zillow Group by 18,875.0% during the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock worth $54,000 after purchasing an additional 755 shares during the period. Jones Financial Companies Lllp increased its holdings in Zillow Group by 24.0% in the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock valued at $58,000 after purchasing an additional 159 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in Zillow Group during the 4th quarter worth $63,000. 20.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZG. Susquehanna increased their price target on Zillow Group from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Citigroup raised their price target on shares of Zillow Group from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Cantor Fitzgerald boosted their price target on shares of 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 decreased their price objective on shares of Zillow Group from $93.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. Finally, Robert W. Baird assumed coverage on shares of Zillow Group in a research note on Friday, January 31st. They set a “neutral” rating and a $88.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.25.

Zillow Group Price Performance

Shares of NASDAQ ZG opened at $72.30 on Tuesday. Zillow Group, Inc. has a 1 year low of $38.06 and a 1 year high of $86.58. The stock has a market capitalization of $17.54 billion, a P/E ratio of -153.83, a P/E/G ratio of 8.90 and a beta of 2.33. The company has a 50-day moving average price of $75.07 and a 200-day moving average price of $70.22.

Zillow Group (NASDAQ:ZG) 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%. As a group, equities research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, CAO Jennifer Rock sold 5,796 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total value of $437,598.00. Following the completion of the transaction, the chief accounting officer now directly owns 51,370 shares of the company’s stock, valued at $3,878,435. This represents a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total value of $136,987.76. Following the sale, the chief financial officer now owns 99,362 shares in the company, valued at $8,443,782.76. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,065 shares of company stock worth $7,660,165. Corporate insiders own 17.14% of the company’s stock.

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.