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

Zillow Group, Inc. (NASDAQ:ZG) shares saw an uptick in trading volume on Friday . 610,007 shares changed hands during mid-day 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 Upgrades and Downgrades

A number of research firms have weighed in on ZG. Evercore ISI upped their target price on Zillow Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Bank of America increased their price objective on Zillow Group from $81.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Susquehanna increased their price objective on Zillow Group from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Robert W. Baird assumed coverage on Zillow Group in a research report on Friday, January 31st. They set a “neutral” rating and a $88.00 price objective for the company. Finally, Canaccord Genuity Group increased their price objective on Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and a consensus target price of $82.25.

Zillow Group Stock Up 0.9 %

The company has a market capitalization of $16.94 billion, a price-to-earnings ratio of -148.37, a P/E/G ratio of 8.90 and a beta of 2.33. The company has a 50-day moving average price of $74.96 and a 200-day moving average price of $69.71.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 11th. The technology company 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%. Equities analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Zillow Group news, insider Errol G. Samuelson sold 6,967 shares of Zillow Group stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $541,475.24. Following the sale, the insider now directly owns 127,467 shares of the company’s stock, valued at approximately $9,906,735.24. The trade was a 5.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jun Choo sold 55,000 shares of Zillow Group stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the sale, the chief operating officer now directly owns 86,853 shares in the company, valued at $6,790,167.54. The trade was a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,065 shares of company stock valued at $7,660,165 over the last three months. 17.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ZG. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Zillow Group in the fourth quarter valued at approximately $27,000. Blue Trust Inc. raised its position in Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after purchasing an additional 172 shares during the last quarter. Asset Dedication LLC bought a new position in Zillow Group in the 4th quarter worth approximately $47,000. Assetmark Inc. raised its position in Zillow Group by 18,875.0% in the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock worth $54,000 after purchasing an additional 755 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in Zillow Group by 24.0% in the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

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.