Summit Global Investments Invests $364,000 in Zillow Group, Inc. (NASDAQ:ZG)

Summit Global Investments bought a new position in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,134 shares of the technology company's stock, valued at approximately $364,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in 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 worth $63,523,000 after acquiring an additional 32,766 shares during the period. State Street Corp increased its holdings in shares of Zillow Group by 0.4% during the 3rd quarter. State Street Corp now owns 805,279 shares of the technology company's stock worth $49,871,000 after purchasing an additional 2,832 shares during the period. Great Lakes Advisors LLC increased its holdings in shares of Zillow Group by 2.8% during the 4th quarter. Great Lakes Advisors LLC now owns 228,934 shares of the technology company's stock worth $16,220,000 after purchasing an additional 6,319 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Zillow Group during the fourth quarter valued at about $14,916,000. Finally, Virtu Financial LLC lifted its stake in shares of Zillow Group by 132.1% in the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company's stock valued at $12,929,000 after buying an additional 118,830 shares during the period. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Stock Performance

Zillow Group stock traded down $1.60 on Friday, reaching $67.20. The company's stock had a trading volume of 301,467 shares, compared to its average volume of 575,436. The business's fifty day moving average price is $74.84 and its 200 day moving average price is $70.45. The company has a market cap of $16.30 billion, a price-to-earnings ratio of -142.98, a PEG ratio of 8.90 and a beta of 2.33. Zillow Group, Inc. has a twelve month low of $38.06 and a twelve month high of $86.58.

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Zillow Group (NASDAQ:ZG - Get Free Report) last posted 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 analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In related news, insider Errol G. Samuelson sold 6,967 shares of the 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 $541,475.24. Following the completion of the sale, the insider now directly owns 127,467 shares of the company's stock, valued at approximately $9,906,735.24. This represents a 5.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $1,987,512.24. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,919 shares of company stock worth $7,869,478. Insiders own 17.14% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on ZG. Susquehanna upped their price target on Zillow Group from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Stephens restated an "overweight" rating and issued a $73.00 target price on shares of Zillow Group in a research note on Wednesday, February 12th. Benchmark lifted their price target on shares of Zillow Group from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Piper Sandler dropped their price objective on shares of Zillow Group from $93.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday, February 12th. Finally, Baird R W raised shares of Zillow Group to a "hold" rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.25.

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.