Proficio Capital Partners LLC Invests $1.81 Million in Zillow Group, Inc. (NASDAQ:ZG)

Proficio Capital Partners LLC acquired a new stake in Zillow Group, Inc. (NASDAQ:ZG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,506 shares of the technology company’s stock, valued at approximately $1,807,000.

A number of other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Zillow Group by 70.2% during the 4th 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 period. Asset Dedication LLC acquired a new position in Zillow Group in the fourth quarter valued at about $47,000. Assetmark Inc. boosted its stake in Zillow Group by 18,875.0% during the fourth 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 increased its position in shares of Zillow Group by 24.0% during 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, Versant Capital Management Inc purchased a new stake in shares of Zillow Group in the 4th quarter valued at approximately $72,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Stock Up 1.5 %

NASDAQ ZG opened at $68.85 on Thursday. The stock has a market capitalization of $16.70 billion, a P/E ratio of -146.49, 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 has a 50-day moving average price of $74.94 and a 200 day moving average price of $69.72.

Zillow Group (NASDAQ:ZG) last released 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%. On average, equities research analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ZG. KeyCorp dropped their target price on Zillow Group from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday. Benchmark lifted their price objective on shares of Zillow Group from $80.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Stephens reaffirmed an “overweight” rating and set a $73.00 target price on shares of Zillow Group in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their price target on shares of Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. Finally, UBS Group upped their price objective on Zillow Group from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.25.

Insider Activity

In related news, CFO Jeremy Hofmann sold 1,612 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total transaction of $136,987.76. Following the sale, the chief financial officer now owns 99,362 shares of the company’s stock, valued at $8,443,782.76. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jun Choo sold 55,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the completion of the transaction, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,065 shares of company stock worth $7,660,165 over the last 90 days. 17.14% of the stock is currently owned by corporate insiders.

Zillow Group Company 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.