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

MFG Wealth Management Inc. purchased a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,913 shares of the technology company's stock, valued at approximately $2,119,000. Zillow Group makes up about 1.9% of MFG Wealth Management Inc.'s investment portfolio, making the stock its 24th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cynosure Group LLC bought a new stake in Zillow Group in the third quarter worth approximately $12,248,000. Mirabella Financial Services LLP bought a new stake in Zillow Group in the third quarter worth approximately $11,351,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Zillow Group during the third quarter valued at approximately $9,813,000. Virtu Financial LLC increased its holdings in shares of Zillow Group by 132.1% during the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company's stock valued at $12,929,000 after acquiring an additional 118,830 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its holdings in shares of Zillow Group by 164.4% during the third quarter. CreativeOne Wealth LLC now owns 179,700 shares of the technology company's stock valued at $11,129,000 after acquiring an additional 111,743 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Craig Hallum boosted their price objective on Zillow Group from $70.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Barclays upped their price target on Zillow Group from $36.00 to $50.00 and gave the stock an "underweight" rating in a report on Friday, November 8th. DA Davidson upped their price target on Zillow Group from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday. UBS Group boosted their price objective on Zillow Group from $90.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, Robert W. Baird began coverage on Zillow Group in a research report on Friday, January 31st. They set a "neutral" rating and a $88.00 price target on the stock. One equities research 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $83.00.

Insiders Place Their Bets

In other news, CFO Jeremy Hofmann sold 23,388 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.98, for a total value of $1,987,512.24. Following the completion of the transaction, the chief financial officer now owns 99,362 shares in the company, valued at $8,443,782.76. This trade represents a 19.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer Rock sold 3,033 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $82.78, for a total value of $251,071.74. Following the completion of the transaction, the chief accounting officer now owns 57,166 shares of the company's stock, valued at approximately $4,732,201.48. The trade was a 5.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,838 shares of company stock worth $6,619,079. 17.14% of the stock is currently owned by company insiders.

Zillow Group Price Performance

ZG stock traded up $1.49 during trading on Friday, hitting $76.89. 721,245 shares of the company traded hands, compared to its average volume of 355,962. Zillow Group, Inc. has a 1 year low of $38.06 and a 1 year high of $86.58. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $75.58 and a 200-day moving average of $66.12.

Zillow Group (NASDAQ:ZG - Get Free Report) last released 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 return on equity of 2.33% and a negative net margin of 6.17%. On average, analysts forecast that Zillow Group, Inc. will post -0.42 earnings per share 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.