Zillow Group (NASDAQ:ZG) Hits New 52-Week High on Analyst Upgrade

Zillow Group, Inc. (NASDAQ:ZG)’s share price hit a new 52-week high during trading on Thursday after Benchmark raised their price target on the stock from $80.00 to $100.00. Benchmark currently has a buy rating on the stock. Zillow Group traded as high as $84.18 and last traded at $83.90, with a volume of 28710 shares trading hands. The stock had previously closed at $83.10.

Other equities analysts also recently issued reports about the stock. DA Davidson lifted their price objective on shares of Zillow Group from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Baird R W upgraded shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. JMP Securities lifted their price objective on shares of Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a research report on Monday, December 16th. Evercore ISI increased their target price on Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird initiated coverage on Zillow Group in a research report on Friday, January 31st. They set a “neutral” rating and a $88.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Insiders Place Their Bets

In other Zillow Group news, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the sale, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. The trade was a 1.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dan Spaulding sold 4,565 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $86.22, for a total value of $393,594.30. Following the sale, the insider now directly owns 58,217 shares in the company, valued at $5,019,469.74. The trade was a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,689 shares of company stock valued at $12,520,379. Company insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Cynosure Group LLC purchased a new position in Zillow Group during the 3rd quarter valued at about $12,248,000. Mirabella Financial Services LLP purchased a new stake in shares of Zillow Group during the third quarter valued at about $11,351,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Zillow Group in the 3rd quarter valued at about $9,813,000. Virtu Financial LLC grew its holdings in shares of Zillow Group by 132.1% during the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock valued at $12,929,000 after buying an additional 118,830 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its position in shares of Zillow Group by 164.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 179,700 shares of the technology company’s stock valued at $11,129,000 after acquiring an additional 111,743 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Trading Up 2.1 %

The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The company has a market cap of $19.82 billion, a price-to-earnings ratio of -147.98, a PEG ratio of 10.99 and a beta of 2.09. The stock has a 50-day simple moving average of $75.53 and a 200 day simple moving average of $64.53.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $581.00 million during the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The company’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) EPS. As a group, equities research analysts predict that Zillow Group, Inc. will post -0.36 EPS for the current fiscal year.

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.