ABC Arbitrage SA Invests $1.27 Million in Zillow Group, Inc. (NASDAQ:ZG)

ABC Arbitrage SA acquired a new position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,849 shares of the technology company's stock, valued at approximately $1,265,000.

A number of other institutional investors also recently made changes to their positions in the business. L & S Advisors Inc bought a new position in shares of Zillow Group in the third quarter worth approximately $1,579,000. Mirabella Financial Services LLP bought a new stake in Zillow Group in the 3rd quarter worth $11,351,000. JPMorgan Chase & Co. grew its holdings in Zillow Group by 155.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company's stock worth $2,060,000 after acquiring an additional 20,238 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Zillow Group by 28.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company's stock valued at $1,753,000 after acquiring an additional 5,539 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Zillow Group by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company's stock valued at $63,523,000 after acquiring an additional 32,766 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company's stock.

Zillow Group Price Performance

Zillow Group stock traded down $0.65 during mid-day trading on Wednesday, reaching $76.65. The stock had a trading volume of 729,304 shares, compared to its average volume of 560,153. Zillow Group, Inc. has a one year low of $38.06 and a one year high of $86.58. The company has a 50-day moving average price of $75.51 and a two-hundred day moving average price of $66.72. The company has a market capitalization of $17.90 billion, a price-to-earnings ratio of -163.09, a PEG ratio of 9.07 and a beta of 2.09.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results 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%. On average, equities research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ZG has been the topic of several recent analyst reports. The Goldman Sachs Group raised their target price on Zillow Group from $42.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Susquehanna lifted their price objective on Zillow Group from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Canaccord Genuity Group boosted their target price on Zillow Group from $64.00 to $86.00 and gave the company a "hold" rating in a research note on Monday, December 2nd. Barclays raised their price target on Zillow Group from $36.00 to $50.00 and gave the stock an "underweight" rating in a research note on Friday, November 8th. Finally, Bank of America boosted their price objective on shares of Zillow Group from $81.00 to $84.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.00.

Insiders Place Their Bets

In other Zillow Group news, CAO Jennifer Rock sold 5,796 shares of Zillow Group stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total value of $437,598.00. Following the completion of the sale, the chief accounting officer now owns 51,370 shares of the company's stock, valued at approximately $3,878,435. The trade was a 10.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO David A. Beitel sold 2,025 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.75, for a total value of $157,443.75. Following the transaction, the chief technology officer now directly owns 151,046 shares in the company, valued at $11,743,826.50. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,838 shares of company stock valued at $4,617,389. Corporate insiders own 17.14% of the company's stock.

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.