Zillow Group (NASDAQ:Z) Sets New 12-Month High at $61.52

Zillow Group, Inc. (NASDAQ:Z) shares hit a new 52-week high during trading on Monday . The stock traded as high as $61.52 and last traded at $61.52, with a volume of 27438 shares. The stock had previously closed at $59.74.

Analyst Ratings Changes

Several research firms have recently issued reports on Z. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Craig Hallum raised Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. UBS Group raised Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Wedbush reiterated a “neutral” rating and issued a $50.00 price objective on shares of Zillow Group in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.20.

Zillow Group Trading Up 3.4 %

The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The business’s 50-day moving average is $51.80 and its two-hundred day moving average is $48.16. The firm has a market cap of $14.30 billion, a P/E ratio of -86.58 and a beta of 1.94.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. The firm had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $539.74 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. As a group, analysts predict that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Susan Daimler sold 3,484 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the transaction, the insider now owns 22,464 shares of the company’s stock, valued at $1,217,099.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zillow Group news, insider Susan Daimler sold 3,484 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the transaction, the insider now directly owns 22,464 shares in the company, valued at $1,217,099.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Lloyd D. Frink sold 150,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the sale, the chairman now owns 582 shares in the company, valued at $29,583.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,548 shares of company stock worth $10,221,048. Corporate insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Concord Wealth Partners acquired a new position in Zillow Group in the first quarter valued at approximately $26,000. Larson Financial Group LLC boosted its holdings in Zillow Group by 364.4% in the second quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 481 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Zillow Group in the first quarter valued at approximately $37,000. Principal Securities Inc. bought a new stake in shares of Zillow Group during the fourth quarter valued at approximately $53,000. Finally, Mather Group LLC. acquired a new position in shares of Zillow Group during the first quarter worth approximately $62,000. Institutional investors and hedge funds own 71.01% 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.