Assetmark Inc. Raises Holdings in Zillow Group, Inc. (NASDAQ:ZG)

Assetmark Inc. increased its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 18,875.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 759 shares of the technology company’s stock after buying an additional 755 shares during the period. Assetmark Inc.’s holdings in Zillow Group were worth $54,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ZG. Blue Trust Inc. raised its position in shares of Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after acquiring an additional 172 shares in the last quarter. Asset Dedication LLC purchased a new position in Zillow Group in the fourth quarter valued at about $47,000. Jones Financial Companies Lllp raised 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 worth $58,000 after purchasing an additional 159 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Zillow Group during the fourth quarter valued at about $72,000. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of Zillow Group in the 3rd quarter valued at about $95,000. 20.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ZG. Citigroup increased their target price on shares of Zillow Group from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Bank of America raised their price objective on Zillow Group from $81.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald upped their target price on Zillow Group from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Piper Sandler lowered their price target on Zillow Group from $93.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Finally, JMP Securities upped their price objective on shares of Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Insider Transactions at Zillow Group

In related news, CFO Jeremy Hofmann sold 23,388 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the completion of the transaction, the chief financial officer now owns 99,362 shares in the company, valued at approximately $8,443,782.76. The trade was a 19.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jun Choo sold 55,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the transaction, the chief operating officer now directly owns 86,853 shares in the company, valued at $6,790,167.54. This trade represents a 38.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,065 shares of company stock valued at $7,660,165. 17.14% of the stock is currently owned by company insiders.

Zillow Group Trading Up 3.2 %

ZG stock opened at $68.50 on Friday. The business’s fifty day moving average price is $75.03 and its 200 day moving average price is $69.41. 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 $16.62 billion, a PE ratio of -145.74, a P/E/G ratio of 8.90 and a beta of 2.33.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (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%. Research analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

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.