Summit Global Investments Buys Shares of 5,134 Zillow Group, Inc. (NASDAQ:ZG)

Summit Global Investments acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,134 shares of the technology company's stock, valued at approximately $364,000.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in Zillow Group by 70.2% during 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 position in shares of Zillow Group during the fourth quarter worth about $47,000. Assetmark Inc. grew its stake in Zillow Group by 18,875.0% in 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. Jones Financial Companies Lllp increased its holdings in 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 buying an additional 159 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Zillow Group in the fourth quarter worth $63,000. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Stock Down 0.3 %

Zillow Group stock traded down $0.23 during midday trading on Tuesday, hitting $72.07. The company's stock had a trading volume of 462,581 shares, compared to its average volume of 575,881. Zillow Group, Inc. has a 12 month low of $38.06 and a 12 month high of $86.58. The company has a market capitalization of $17.48 billion, a PE ratio of -153.34, a price-to-earnings-growth ratio of 8.90 and a beta of 2.33. The stock's 50-day moving average price is $75.14 and its 200-day moving average price is $70.37.

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Zillow Group (NASDAQ:ZG - Get Free Report) last released its earnings results on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates 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 analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling

In related news, CAO Jennifer Rock sold 5,796 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total transaction of $437,598.00. Following the transaction, the chief accounting officer now directly owns 51,370 shares of the company's stock, valued at approximately $3,878,435. The trade was a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jun Choo sold 1,277 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the transaction, the chief operating officer now 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 96,065 shares of company stock worth $7,660,165 in the last three months. 17.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $88.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. Citigroup increased their price target on Zillow Group from $95.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Stephens restated an "overweight" rating and set a $73.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. Susquehanna increased their target price on Zillow Group from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, UBS Group boosted their price target on shares of Zillow Group from $90.00 to $98.00 and gave the company a "buy" rating in a report on Monday, January 27th. One 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 currently has an average rating of "Moderate Buy" and an average target price of $82.25.

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.