Zillow Group (NASDAQ:Z) Reaches New 12-Month High Following Analyst Upgrade

Zillow Group, Inc. (NASDAQ:Z)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $90.00 to $95.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Zillow Group traded as high as $89.39 and last traded at $86.32, with a volume of 4451636 shares traded. The stock had previously closed at $87.97.

Z has been the subject of a number of other reports. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research report on Thursday, November 7th. KeyCorp raised Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, February 2nd. Baird R W raised Zillow Group to a “hold” rating in a report on Friday, January 31st. Bank of America raised their price target on Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group raised their price target on Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Zillow Group has an average rating of “Moderate Buy” and an average target price of $82.00.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 23,388 shares of Zillow Group stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the sale, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at approximately $8,443,782.76. The trade was a 19.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jennifer Rock sold 3,033 shares of Zillow Group stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $82.78, for a total value of $251,071.74. Following the sale, the chief accounting officer now directly owns 57,166 shares in the company, valued at approximately $4,732,201.48. The trade was a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,773 shares of company stock valued at $5,383,314. 23.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Zillow Group

A number of hedge funds have recently made changes to their positions in Z. PNC Financial Services Group Inc. lifted its position in Zillow Group by 1.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,532 shares of the financial services provider’s stock valued at $706,000 after acquiring an additional 116 shares in the last quarter. Independent Advisor Alliance lifted its position in Zillow Group by 3.4% in the 4th quarter. Independent Advisor Alliance now owns 3,620 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 120 shares in the last quarter. Blue Trust Inc. lifted its position in Zillow Group by 17.5% in the 4th quarter. Blue Trust Inc. now owns 922 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 137 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in Zillow Group by 2.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 7,148 shares of the financial services provider’s stock valued at $529,000 after acquiring an additional 148 shares in the last quarter. Finally, Brighton Jones LLC raised its stake in Zillow Group by 2.4% during the 3rd quarter. Brighton Jones LLC now owns 6,953 shares of the financial services provider’s stock valued at $444,000 after buying an additional 166 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Zillow Group Stock Performance

The firm has a market capitalization of $18.38 billion, a PE ratio of -138.09, a price-to-earnings-growth ratio of 16.20 and a beta of 2.03. 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 business’s 50 day simple moving average is $78.73 and its two-hundred day simple moving average is $68.13.

Zillow Group (NASDAQ:Z) last announced its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. Research analysts expect that Zillow Group, Inc. will post -0.42 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.