Sierra Summit Advisors LLC Makes New $556,000 Investment in Zillow Group, Inc. (NASDAQ:ZG)

Sierra Summit Advisors LLC purchased a new stake in Zillow Group, Inc. (NASDAQ:ZG) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 7,842 shares of the technology company’s stock, valued at approximately $556,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in Zillow Group in the 4th quarter valued at about $88,000. Envestnet Asset Management Inc. raised its stake in shares of Zillow Group by 13.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,137 shares of the technology company’s stock valued at $364,000 after acquiring an additional 600 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Zillow Group in the 4th quarter worth approximately $453,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Zillow Group during the 4th quarter worth approximately $27,000. Finally, Franklin Resources Inc. increased its holdings in Zillow Group by 42.1% in the 4th quarter. Franklin Resources Inc. now owns 4,739 shares of the technology company’s stock valued at $336,000 after purchasing an additional 1,405 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Insider Buying and Selling

In related news, insider Errol G. Samuelson sold 2,854 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the completion of the sale, the insider now owns 142,636 shares in the company, valued at $10,460,924.24. This represents a 1.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO David A. Beitel sold 2,025 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.75, for a total transaction of $157,443.75. Following the sale, the chief technology officer now owns 151,046 shares of the company’s stock, valued at approximately $11,743,826.50. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,919 shares of company stock worth $7,869,478 in the last ninety days. 17.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ZG shares. Keefe, Bruyette & Woods upgraded Zillow Group to a “hold” rating in a research report on Friday, March 28th. Susquehanna raised their target price on Zillow Group from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Robert W. Baird began coverage on shares of Zillow Group in a research note on Friday, January 31st. They set a “neutral” rating and a $88.00 price target on the stock. Stephens reissued an “overweight” rating and set a $73.00 price target on shares of Zillow Group in a research report on Wednesday, February 12th. Finally, Citigroup lifted their price objective on shares of Zillow Group from $95.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.25.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $65.32 on Monday. The stock’s 50-day simple moving average is $73.99 and its 200-day simple moving average is $70.96. The firm has a market capitalization of $15.84 billion, a PE ratio of -138.98, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22. Zillow Group, Inc. has a fifty-two week low of $38.06 and a fifty-two week high of $86.58.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) 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, sell-side analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

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.