Sierra Summit Advisors LLC Invests $556,000 in Zillow Group, Inc. (NASDAQ:ZG)

Sierra Summit Advisors LLC purchased a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,842 shares of the technology company's stock, valued at approximately $556,000.

Other institutional investors also recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Zillow Group during the 4th quarter valued at about $27,000. Blue Trust Inc. raised its stake 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 valued at $30,000 after purchasing 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 position 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 in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of 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. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Trading Down 0.9 %

NASDAQ:ZG traded down $0.56 during mid-day trading on Friday, hitting $60.28. The stock had a trading volume of 583,697 shares, compared to its average volume of 579,402. Zillow Group, Inc. has a 52 week low of $38.06 and a 52 week high of $86.58. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of -128.26, a P/E/G ratio of 8.90 and a beta of 2.22. The company has a 50 day simple moving average of $71.45 and a 200-day simple moving average of $70.74.

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Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate 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 year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ZG. Evercore ISI upped their price objective on shares of Zillow Group from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Benchmark increased their price target on Zillow Group from $80.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Susquehanna lifted their price objective on Zillow Group from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Piper Sandler cut their target price on Zillow Group from $93.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 12th. Finally, Bank of America raised their price target on shares of Zillow Group from $81.00 to $84.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. 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 stock. According to data from MarketBeat.com, Zillow Group presently has an average rating of "Moderate Buy" and a consensus target price of $81.60.

Insider Activity at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 23,388 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.98, for a total value 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 approximately $8,443,782.76. This represents a 19.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jun Choo sold 1,277 shares of Zillow Group stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $99,248.44. Following the completion of the transaction, the chief operating officer now directly owns 86,853 shares in the company, valued at $6,750,215.16. This represents a 1.45 % decrease in their position. 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. 17.14% of the stock is currently owned by corporate 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.