Zillow Group (NASDAQ:ZG) Sets New 52-Week High After Analyst Upgrade

Zillow Group, Inc. (NASDAQ:ZG) reached a new 52-week high during mid-day trading on Thursday after Canaccord Genuity Group raised their price target on the stock from $56.00 to $64.00. Canaccord Genuity Group currently has a hold rating on the stock. Zillow Group traded as high as $69.95 and last traded at $68.76, with a volume of 359297 shares traded. The stock had previously closed at $56.08.

Other equities research analysts also recently issued reports about the company. Benchmark lifted their price objective on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Citigroup increased their price objective on Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Craig Hallum upped their target price on shares of Zillow Group from $55.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group boosted their price target on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday. 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 research note on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and an average target price of $65.28.

Insiders Place Their Bets

In other news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the sale, the director now owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Zillow Group news, CFO Jeremy Hofmann sold 4,729 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $52.85, for a total value of $249,927.65. Following the completion of the transaction, the chief financial officer now directly owns 118,394 shares in the company, valued at $6,257,122.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,596 shares of company stock worth $3,938,581 in the last three months. 17.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Zillow Group by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock valued at $19,901,000 after acquiring an additional 35,503 shares during the period. Selkirk Management LLC increased its position in Zillow Group by 37.4% during the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock worth $14,449,000 after buying an additional 87,300 shares during the period. US Bancorp DE grew its holdings in shares of Zillow Group by 6.5% during the third quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock worth $18,444,000 after buying an additional 18,136 shares during the last quarter. Raymond James & Associates grew its holdings in Zillow Group by 7.0% during the second quarter. Raymond James & Associates now owns 193,023 shares of the technology company’s stock worth $8,694,000 after acquiring an additional 12,616 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Zillow Group by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 162,647 shares of the technology company’s stock valued at $7,326,000 after purchasing an additional 7,311 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Stock Up 25.0 %

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 firm’s 50-day moving average is $59.25 and its 200 day moving average is $50.30. The stock has a market cap of $16.22 billion, a price-to-earnings ratio of -114.90 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm had revenue of $572.00 million for the quarter, compared to analysts’ expectations of $538.36 million. During the same period last year, the firm earned ($0.05) EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. Sell-side analysts anticipate that Zillow Group, Inc. will post -0.33 earnings per share 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.