Zillow Group (NASDAQ:ZG) Sets New 1-Year High – Time to Buy?

Zillow Group, Inc. (NASDAQ:ZG) shares reached a new 52-week high on Friday . The stock traded as high as $83.67 and last traded at $81.95, with a volume of 72380 shares traded. The stock had previously closed at $82.33.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Cantor Fitzgerald restated a “neutral” rating and set a $47.00 target price on shares of Zillow Group in a report on Monday, October 7th. Evercore ISI raised their price objective on shares of Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. DA Davidson increased their price target on shares of Zillow Group from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group boosted their price objective on shares of Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $73.00 target price (up from $62.00) on shares of Zillow Group in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average price target of $69.65.

Zillow Group Price Performance

The company has a market capitalization of $19.11 billion, a P/E ratio of -144.44 and a beta of 2.02. 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’s 50-day moving average price is $65.22 and its two-hundred day moving average price is $53.84.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The company had revenue of $581.00 million during the quarter, compared to the consensus estimate of $555.45 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. As a group, sell-side analysts expect that Zillow Group, Inc. will post -0.33 EPS for the current year.

Insider Transactions at Zillow Group

In other news, Director Erik C. Blachford sold 1,413 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $54.87, for a total value of $77,531.31. Following the sale, the director now directly owns 35,403 shares in the company, valued at approximately $1,942,562.61. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Susan Daimler sold 3,484 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total transaction of $188,763.12. Following the transaction, the insider now owns 22,464 shares of the company’s stock, valued at approximately $1,217,099.52. This represents a 13.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,439 shares of company stock valued at $11,576,823. 17.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in Zillow Group in the 3rd quarter worth about $29,000. Signaturefd LLC increased its position in Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after acquiring an additional 360 shares during the period. GAMMA Investing LLC raised its stake in shares of Zillow Group by 86.7% during the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after acquiring an additional 561 shares during the last quarter. Pinpoint Asset Management Ltd bought a new stake in shares of Zillow Group in the third quarter worth $95,000. Finally, Maryland State Retirement & Pension System acquired a new stake in Zillow Group in the second quarter valued at $202,000. 20.32% of the stock is currently owned by institutional investors.

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.