Zillow Group (NASDAQ:ZG) Hits New 52-Week High – Here’s What Happened

Shares of Zillow Group, Inc. (NASDAQ:ZG) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $74.03 and last traded at $73.88, with a volume of 133662 shares. The stock had previously closed at $72.55.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group increased their price objective on Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group increased their price target on shares of Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Barclays boosted their price objective on shares of Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Royal Bank of Canada upped their price objective on shares of Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, JMP Securities lifted their target price on shares of Zillow Group from $62.00 to $82.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.17.

Zillow Group Trading Up 3.0 %

The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average of $62.31 and a 200 day moving average of $52.11.

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

Insiders Place Their Bets

In related news, insider Susan Daimler sold 3,484 shares of Zillow Group 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 owns 22,464 shares in the company, valued at approximately $1,217,099.52. This trade represents a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. The trade was a 78.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,419 shares of company stock worth $9,369,723 in the last 90 days. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in shares of Zillow Group in the third quarter worth about $29,000. EntryPoint Capital LLC purchased a new position in shares of Zillow Group during the first quarter worth approximately $53,000. Signaturefd LLC raised its stake in shares of Zillow Group by 29.7% during the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after acquiring an additional 360 shares in the last quarter. GAMMA Investing LLC grew its stake in Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after purchasing an additional 561 shares in the last quarter. Finally, Pinpoint Asset Management Ltd purchased a new position in Zillow Group during the 3rd quarter worth $95,000. 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.