HighTower Advisors LLC Boosts Holdings in Zillow Group, Inc. (NASDAQ:ZG)

HighTower Advisors LLC grew its stake in shares of Zillow Group, Inc. (NASDAQ:ZG) by 59.1% in the fourth quarter, HoldingsChannel reports. The fund owned 8,995 shares of the technology company’s stock after buying an additional 3,341 shares during the quarter. HighTower Advisors LLC’s holdings in Zillow Group were worth $637,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its position in Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after purchasing an additional 172 shares during the last quarter. Asset Dedication LLC acquired a new stake in shares of Zillow Group during the 4th quarter worth $47,000. Assetmark Inc. raised its position in shares of Zillow Group by 18,875.0% in the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock worth $54,000 after buying an additional 755 shares during the period. Jones Financial Companies Lllp boosted 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 acquiring an additional 159 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Zillow Group during the fourth quarter valued at about $63,000. 20.32% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zillow Group news, insider Errol G. Samuelson sold 6,967 shares of the firm’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 $541,475.24. Following the transaction, the insider now owns 127,467 shares of the company’s stock, valued at $9,906,735.24. This trade represents a 5.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the transaction, the chief financial officer now owns 99,362 shares of the company’s stock, valued at approximately $8,443,782.76. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,919 shares of company stock valued at $7,869,478 over the last 90 days. 17.14% of the stock is owned by company insiders.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $67.20 on Friday. Zillow Group, Inc. has a 1 year low of $38.06 and a 1 year high of $86.58. The firm’s 50-day simple moving average is $74.84 and its 200-day simple moving average is $70.45. The firm has a market cap of $16.30 billion, a PE ratio of -142.98, a price-to-earnings-growth ratio of 8.90 and a beta of 2.33.

Zillow Group (NASDAQ:ZG) last announced 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 net margin of 5.01% and a negative return on equity of 2.12%. On average, equities analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZG. Piper Sandler decreased their target price on Zillow Group from $93.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Robert W. Baird initiated coverage on shares of Zillow Group in a research note on Friday, January 31st. They set a “neutral” rating and a $88.00 price objective for the company. Susquehanna raised their target price on shares of Zillow Group from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. UBS Group upped their price target on shares of Zillow Group from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Evercore ISI raised their price objective on Zillow Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.