Zillow Group (NASDAQ:ZG) Sees Unusually-High Trading Volume – Here’s What Happened

Zillow Group, Inc. (NASDAQ:ZG) shares saw unusually-strong trading volume on Friday . Approximately 610,007 shares were traded during trading, an increase of 6% from the previous session’s volume of 577,571 shares.The stock last traded at $69.40 and had previously closed at $69.27.

Analyst Ratings Changes

Several equities research analysts have weighed in on ZG shares. Benchmark raised their price objective on shares of Zillow Group from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Baird R W raised shares of Zillow Group to a “hold” rating in a research note on Friday, January 31st. Susquehanna raised their target price on shares of Zillow Group from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. UBS Group raised their target price on shares of Zillow Group from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Canaccord Genuity Group lifted their price objective on shares of Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Zillow Group has an average rating of “Moderate Buy” and a consensus price target of $82.25.

Zillow Group Price Performance

The firm has a market capitalization of $16.93 billion, a P/E ratio of -148.47, a PEG ratio of 8.90 and a beta of 2.33. The company has a fifty day moving average of $74.99 and a 200 day moving average of $69.95.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. On average, sell-side analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insider Activity

In other news, CTO David A. Beitel sold 2,025 shares of Zillow Group stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.75, for a total transaction of $157,443.75. Following the completion of the sale, the chief technology officer now owns 151,046 shares in the company, valued at approximately $11,743,826.50. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jeremy Hofmann sold 23,388 shares of the firm’s stock in a transaction dated 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 directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. This represents a 19.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,065 shares of company stock valued at $7,660,165 in the last ninety days. 17.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently modified their holdings of ZG. Atria Investments Inc bought a new position in Zillow Group in the third quarter worth $231,000. Thrivent Financial for Lutherans grew its stake in shares of Zillow Group by 93.3% in the third quarter. Thrivent Financial for Lutherans now owns 142,917 shares of the technology company’s stock worth $8,851,000 after acquiring an additional 68,984 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Zillow Group in the third quarter worth $774,000. Raymond James Trust N.A. grew its stake in shares of Zillow Group by 19.0% in the third quarter. Raymond James Trust N.A. now owns 15,674 shares of the technology company’s stock worth $971,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new stake in shares of Zillow Group in the third quarter worth $11,351,000. 20.32% of the stock is owned by hedge funds and other 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.