MFG Wealth Management Inc. Acquires New Shares in Zillow Group, Inc. (NASDAQ:ZG)

MFG Wealth Management Inc. bought a new position in shares of Zillow Group, Inc. (NASDAQ:ZG) in the 4th quarter, HoldingsChannel.com reports. The fund bought 29,913 shares of the technology company’s stock, valued at approximately $2,119,000. Zillow Group comprises approximately 1.9% of MFG Wealth Management Inc.’s holdings, making the stock its 24th largest position.

Several other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. lifted its stake in shares of Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after acquiring an additional 172 shares during the last quarter. Asset Dedication LLC bought a new stake in Zillow Group during the 4th quarter worth $47,000. Versant Capital Management Inc acquired a new position in Zillow Group in the 4th quarter worth about $72,000. GAMMA Investing LLC raised its position in Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after purchasing an additional 561 shares during the last quarter. Finally, Pinpoint Asset Management Ltd acquired a new stake in shares of Zillow Group during the third quarter valued at about $95,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Insider Buying and Selling

In other news, CFO Jeremy Hofmann sold 23,388 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the completion of the sale, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at $8,443,782.76. The trade was a 19.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Errol G. Samuelson sold 17,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $73.57, for a total transaction of $1,250,690.00. Following the completion of the sale, the insider now owns 22,739 shares in the company, valued at $1,672,908.23. This represents a 42.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,730 shares of company stock valued at $10,896,034. 17.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Susquehanna upped their price objective on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Barclays upped their price target on shares of Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. KeyCorp raised shares of Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 price objective on the stock in a research note on Monday, February 3rd. Baird R W upgraded Zillow Group to a “hold” rating in a report on Friday, January 31st. Finally, Stephens reaffirmed an “overweight” rating and set a $73.00 target price on shares of Zillow Group in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.95.

Zillow Group Trading Down 10.7 %

Zillow Group stock opened at $74.87 on Thursday. Zillow Group, Inc. has a 12-month low of $38.06 and a 12-month high of $86.58. The firm’s fifty day moving average is $75.68 and its 200 day moving average is $65.73. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data 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 6.17% and a negative return on equity of 2.33%. As a group, research analysts predict that Zillow Group, Inc. will post -0.42 EPS for the current fiscal year.

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.