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

Shares of Zillow Group, Inc. (NASDAQ:ZG) reached a new 52-week high during mid-day 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 traded. The stock had previously closed at $83.10.

A number of other research analysts have also issued reports on ZG. Royal Bank of Canada lifted their target price on Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Susquehanna lifted their target price on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Evercore ISI lifted their target price on Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Baird R W upgraded Zillow Group to a “hold” rating in a report on Friday, January 31st. Finally, Barclays lifted their target price on Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Insider Activity

In related news, CFO Jeremy Hofmann sold 23,388 shares of Zillow Group stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.98, for a total value of $1,987,512.24. Following the transaction, the chief financial officer now owns 99,362 shares in the company, valued at $8,443,782.76. This trade represents a 19.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO David A. Beitel sold 56,750 shares of Zillow Group stock in a transaction on Friday, November 15th. The stock was sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the completion of the transaction, the chief technology officer now owns 92 shares in the company, valued at $6,659.88. This trade represents a 99.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,689 shares of company stock worth $12,520,379. 17.14% of the stock is owned by corporate insiders.

Institutional Trading of Zillow Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of Zillow Group by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock valued at $63,523,000 after acquiring an additional 32,766 shares in the last quarter. State Street Corp boosted its position in Zillow Group by 0.4% in the third quarter. State Street Corp now owns 805,279 shares of the technology company’s stock valued at $49,871,000 after buying an additional 2,832 shares in the last quarter. US Bancorp DE boosted its position in Zillow Group by 6.5% in the third quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock valued at $18,444,000 after buying an additional 18,136 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Zillow Group in the fourth quarter valued at about $14,916,000. Finally, Virtu Financial LLC boosted its position in Zillow Group by 132.1% in 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 in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Performance

The stock has a market capitalization of $19.64 billion, a price-to-earnings ratio of -147.49, a price-to-earnings-growth ratio of 10.99 and a beta of 2.09. 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’s 50-day simple moving average is $75.56 and its 200 day simple moving average is $64.67.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $581.00 million for the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share. Analysts expect that Zillow Group, Inc. will post -0.36 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.