Proficio Capital Partners LLC Acquires New Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Proficio Capital Partners LLC acquired a new position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 25,506 shares of the technology company's stock, valued at approximately $1,807,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new position in Zillow Group in the 4th quarter valued at $557,000. Ieq Capital LLC boosted its holdings in Zillow Group by 4.9% in the 4th 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 during the period. Private Advisor Group LLC boosted its holdings in Zillow Group by 104.9% in the 4th quarter. Private Advisor Group LLC now owns 24,718 shares of the technology company's stock valued at $1,751,000 after purchasing an additional 12,654 shares during the period. Truist Financial Corp boosted its holdings in Zillow Group by 67.9% in the 4th quarter. Truist Financial Corp now owns 6,196 shares of the technology company's stock valued at $439,000 after purchasing an additional 2,506 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in Zillow Group by 0.6% in the 4th quarter. Baillie Gifford & Co. now owns 92,025 shares of the technology company's stock valued at $6,520,000 after purchasing an additional 509 shares during the period. 20.32% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Errol G. Samuelson sold 6,967 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total transaction of $541,475.24. Following the sale, the insider now owns 127,467 shares in the company, valued at $9,906,735.24. This represents a 5.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jun Choo sold 1,277 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total transaction of $99,248.44. Following the sale, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,750,215.16. The trade was a 1.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,065 shares of company stock worth $7,660,165. 17.14% of the stock is currently owned by company insiders.

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Zillow Group Stock Performance

Shares of NASDAQ ZG traded up $1.67 during midday trading on Friday, hitting $73.85. 781,180 shares of the company traded hands, compared to its average volume of 597,621. Zillow Group, Inc. has a 12-month low of $38.06 and a 12-month high of $86.58. The stock has a 50-day moving average price of $75.23 and a 200 day moving average price of $68.65. The firm has a market cap of $17.91 billion, a P/E ratio of -157.13, a P/E/G ratio of 8.90 and a beta of 2.33.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly 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 net margin of 5.01% and a negative return on equity of 2.12%. As a group, equities analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Susquehanna raised their price target on shares of Zillow Group from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. KeyCorp upgraded 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 report on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and set a $88.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. Robert W. Baird began coverage on shares of Zillow Group in a research report on Friday, January 31st. They set a "neutral" rating and a $88.00 price objective on the stock. Finally, Piper Sandler lowered their price objective on shares of Zillow Group from $93.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $83.00.

Zillow Group Company 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.