Zillow Group (NASDAQ:Z) Trading Up 4.1% – Here’s What Happened

Shares of Zillow Group, Inc. (NASDAQ:Z) were up 4.1% during trading on Thursday . The company traded as high as $73.63 and last traded at $73.46. Approximately 1,490,982 shares changed hands during trading, a decline of 55% from the average daily volume of 3,329,938 shares. The stock had previously closed at $70.57.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on Z shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Zillow Group in a research note on Wednesday, February 12th. Baird R W raised Zillow Group to a “hold” rating in a research note on Friday, January 31st. KeyCorp raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Finally, Morgan Stanley lifted their price objective on Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Zillow Group Stock Performance

The firm has a market capitalization of $17.40 billion, a P/E ratio of -152.22, a price-to-earnings-growth ratio of 9.24 and a beta of 2.27. The business has a 50 day simple moving average of $77.58 and a two-hundred day simple moving average of $72.24.

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 return on equity of 2.12% and a negative net margin of 5.01%. On average, equities analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Jennifer Rock sold 5,796 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total transaction of $437,598.00. Following the transaction, the chief accounting officer now directly owns 51,370 shares in the company, valued at $3,878,435. This trade represents a 10.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 23,388 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was 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 approximately $8,443,782.76. The trade was a 19.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,065 shares of company stock worth $7,660,165. 23.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently modified their holdings of Z. CIBC Asset Management Inc lifted its position in shares of Zillow Group by 5.5% in the 3rd quarter. CIBC Asset Management Inc now owns 6,076 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 318 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of Zillow Group in the 3rd quarter worth about $6,267,000. Swiss National Bank lifted its position in shares of Zillow Group by 0.7% in the 3rd quarter. Swiss National Bank now owns 466,834 shares of the financial services provider’s stock worth $29,807,000 after purchasing an additional 3,300 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Zillow Group in the 3rd quarter worth about $234,000. Finally, Summit Trail Advisors LLC bought a new position in shares of Zillow Group in the 3rd quarter worth about $567,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.