Zillow Group (NASDAQ:ZG) Sets New 12-Month High – Here’s What Happened

Zillow Group, Inc. (NASDAQ:ZG) shares reached a new 52-week high on Wednesday . The stock traded as high as $86.58 and last traded at $83.84, with a volume of 1436496 shares trading hands. The stock had previously closed at $85.29.

Analyst Upgrades and Downgrades

ZG has been the subject of several research analyst reports. Susquehanna raised their price target on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Robert W. Baird began coverage on shares of Zillow Group in a report on Friday, January 31st. They issued a “neutral” rating and a $88.00 target price for the company. UBS Group upped their price target on shares of Zillow Group from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Evercore ISI lifted their price objective on shares of Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Benchmark upped their target price on shares of Zillow Group from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Zillow Group Stock Performance

The business has a 50-day moving average of $75.77 and a two-hundred day moving average of $65.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. The company has a market cap of $19.58 billion, a P/E ratio of -147.09, a P/E/G ratio of 15.65 and a beta of 2.09.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. On average, sell-side analysts predict that Zillow Group, Inc. will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 4,565 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $86.22, for a total value of $393,594.30. Following the transaction, the insider now owns 58,217 shares in the company, valued at approximately $5,019,469.74. This represents a 7.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $136,987.76. Following the sale, 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 142,730 shares of company stock worth $10,896,034 in the last three months. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds have recently modified their holdings of ZG. L & S Advisors Inc purchased a new stake in Zillow Group during the third quarter worth $1,579,000. Mirabella Financial Services LLP purchased a new stake in shares of Zillow Group during the 3rd quarter worth about $11,351,000. JPMorgan Chase & Co. grew its position in shares of Zillow Group by 155.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company’s stock valued at $2,060,000 after acquiring an additional 20,238 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Zillow Group by 28.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company’s stock valued at $1,753,000 after purchasing an additional 5,539 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Zillow Group by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock valued at $63,523,000 after purchasing an additional 32,766 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.