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

Assetmark Inc. boosted its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 18,875.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 759 shares of the technology company’s stock after acquiring 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 reporting period.

Other hedge funds have also bought and sold shares of the company. Atria Investments Inc bought a new stake in Zillow Group in the third quarter worth $231,000. GSA Capital Partners LLP raised its position in shares of Zillow Group by 207.2% in the 3rd quarter. GSA Capital Partners LLP now owns 15,248 shares of the technology company’s stock worth $944,000 after purchasing an additional 10,285 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Zillow Group by 93.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 142,917 shares of the technology company’s stock worth $8,851,000 after purchasing an additional 68,984 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Zillow Group during the 3rd quarter valued at about $774,000. Finally, L & S Advisors Inc bought a new stake in Zillow Group during the 3rd quarter valued at about $1,579,000. Institutional investors own 20.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald upped their target price on shares of Zillow Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. UBS Group upped their price objective on Zillow Group from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, January 27th. KeyCorp raised Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 target price for the company in a report on Monday, February 3rd. Robert W. Baird assumed coverage on Zillow Group in a report on Friday, January 31st. They set a “neutral” rating and a $88.00 price target on the stock. Finally, Benchmark lifted their price objective on Zillow Group from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Insider Activity

In related news, CTO David A. Beitel sold 2,025 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.75, for a total transaction of $157,443.75. Following the transaction, the chief technology officer now directly owns 151,046 shares in the company, valued at approximately $11,743,826.50. This represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 23,388 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at approximately $8,443,782.76. The trade was a 19.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,065 shares of company stock worth $7,660,165. 17.14% of the stock is currently owned by corporate insiders.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $68.50 on Friday. The company has a market cap of $16.62 billion, a P/E ratio of -145.74, a P/E/G ratio of 8.90 and a beta of 2.33. Zillow Group, Inc. has a 52-week low of $38.06 and a 52-week high of $86.58. The firm’s fifty day moving average is $75.03 and its two-hundred day moving average is $69.41.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts forecast 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.