Zillow Group (NASDAQ:Z) Hits New 12-Month High – What’s Next?

Shares of Zillow Group, Inc. (NASDAQ:Z) reached a new 52-week high during trading on Thursday . The company traded as high as $71.95 and last traded at $71.11, with a volume of 1142201 shares. The stock had previously closed at $58.68.

Wall Street Analyst Weigh In

A number of research firms have commented on Z. Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Morgan Stanley upped their price objective on shares of Zillow Group from $46.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their price target on shares of Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. UBS Group raised shares of Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Bank of America upped their price objective on shares of Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

Zillow Group Stock Up 1.7 %

The company’s 50-day moving average is $61.57 and its 200 day moving average is $51.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The company has a market capitalization of $17.10 billion, a PE ratio of -129.63 and a beta of 1.95.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. The business had revenue of $572.00 million during the quarter, compared to analyst estimates of $539.74 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.34%. As a group, analysts anticipate that Zillow Group, Inc. will post -0.33 EPS for the current year.

Insider Activity at Zillow Group

In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the transaction, the director now owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the transaction, the director now owns 5,652 shares of the company’s stock, valued at $379,983.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thielke Claire Cormier sold 2,826 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $61.11, for a total value of $172,696.86. Following the completion of the transaction, the director now directly owns 2,826 shares in the company, valued at $172,696.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,596 shares of company stock worth $3,938,581. 23.76% of the stock is owned by insiders.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Zillow Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 21,313,573 shares of the financial services provider’s stock valued at $1,039,676,000 after purchasing an additional 176,449 shares during the period. Capital World Investors raised its stake in Zillow Group by 2.8% during the 1st quarter. Capital World Investors now owns 8,846,232 shares of the financial services provider’s stock valued at $431,519,000 after purchasing an additional 238,554 shares during the period. Dorsal Capital Management LP raised its stake in Zillow Group by 59.8% during the 2nd quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider’s stock valued at $143,809,000 after purchasing an additional 1,160,000 shares during the period. Dimensional Fund Advisors LP raised its stake in Zillow Group by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,423,257 shares of the financial services provider’s stock valued at $66,032,000 after purchasing an additional 139,489 shares during the period. Finally, Coronation Fund Managers Ltd. raised its stake in Zillow Group by 238.9% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 864,733 shares of the financial services provider’s stock valued at $40,115,000 after purchasing an additional 609,575 shares during the period. Institutional investors own 71.01% of the company’s stock.

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.