Summit Global Investments Acquires Shares of 5,134 Zillow Group, Inc. (NASDAQ:ZG)

Summit Global Investments bought a new stake in Zillow Group, Inc. (NASDAQ:ZG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 5,134 shares of the technology company’s stock, valued at approximately $364,000.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in Zillow Group by 24.0% in the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after buying an additional 159 shares during the period. Blue Trust Inc. lifted its position in shares of Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after acquiring an additional 172 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Zillow Group by 0.6% in the fourth quarter. Baillie Gifford & Co. now owns 92,025 shares of the technology company’s stock worth $6,520,000 after acquiring an additional 509 shares during the period. Ieq Capital LLC grew its position in shares of Zillow Group by 4.9% in the fourth quarter. Ieq Capital LLC now owns 12,123 shares of the technology company’s stock valued at $859,000 after purchasing an additional 566 shares in the last quarter. Finally, Asset Dedication LLC bought a new stake in shares of Zillow Group during the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ZG. DA Davidson raised their target price on Zillow Group from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their price objective on shares of Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. Craig Hallum upped their target price on shares of Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Robert W. Baird initiated coverage on shares of Zillow Group in a report on Friday, January 31st. They issued a “neutral” rating and a $88.00 price target for the company. Finally, Citigroup upped 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.25.

Zillow Group Stock Performance

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

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. As a group, equities analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In other Zillow Group news, CTO David A. Beitel sold 2,025 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.75, for a total value of $157,443.75. Following the completion of the sale, the chief technology officer now directly owns 151,046 shares in the company, valued at $11,743,826.50. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jun Choo sold 55,000 shares of Zillow Group stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the sale, the chief operating officer now directly owns 86,853 shares in the company, valued at approximately $6,790,167.54. The trade was a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,065 shares of company stock valued at $7,660,165 over the last ninety days. 17.14% of the stock is owned by insiders.

Zillow Group 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.