Zillow Group (NASDAQ:ZG) Reaches New 1-Year High on Analyst Upgrade

Zillow Group, Inc. (NASDAQ:ZG)’s stock price 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 recently commented on the stock. Evercore ISI raised their price target on shares of Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays increased their target price on Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Susquehanna boosted their price target on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. The Goldman Sachs Group increased their price objective on Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group boosted their target price on shares of Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, December 2nd. One equities 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 an average rating of “Moderate Buy” and a consensus price target of $78.00.

Insider Buying and Selling

In other news, General Counsel Bradley D. Owens sold 1,212 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total value of $89,663.76. Following the completion of the transaction, the general counsel now owns 31,739 shares in the company, valued at $2,348,051.22. This represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO David A. Beitel sold 56,750 shares of the firm’s 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 sale, the chief technology officer now owns 92 shares in the company, valued at approximately $6,659.88. The trade was a 99.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,689 shares of company stock valued at $12,520,379. 17.14% of the stock is owned by company insiders.

Institutional Trading of Zillow Group

A number of institutional investors have recently made changes to their positions in ZG. HighTower Advisors LLC raised its holdings in Zillow Group by 59.1% during the fourth quarter. HighTower Advisors LLC now owns 8,995 shares of the technology company’s stock worth $637,000 after acquiring an additional 3,341 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Zillow Group during the 4th quarter worth approximately $63,000. AlphaQuest LLC raised its stake in shares of Zillow Group by 75,860.0% during the 4th quarter. AlphaQuest LLC now owns 7,596 shares of the technology company’s stock worth $538,000 after purchasing an additional 7,586 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Zillow Group in the 4th quarter valued at approximately $992,000. Finally, Raymond James Financial Inc. bought a new position in shares of Zillow Group in the fourth quarter valued at $14,916,000. Institutional investors own 20.32% of the company’s stock.

Zillow Group Stock Performance

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 fifty day moving average is $75.62 and its two-hundred day moving average is $64.91. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of -148.18, a P/E/G ratio of 10.99 and a beta of 2.09.

Zillow Group (NASDAQ:ZG) last posted its quarterly 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. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The business had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $555.45 million. During the same quarter last year, the company posted ($0.12) earnings per share. Zillow Group’s quarterly revenue was up 17.1% on a year-over-year basis. On average, analysts predict that Zillow Group, Inc. will post -0.36 earnings per share for the current 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.