Zillow Group (NASDAQ:ZG) Sets New 12-Month High at $59.77

Shares of Zillow Group, Inc. (NASDAQ:ZG) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $59.77 and last traded at $59.77, with a volume of 5676 shares. The stock had previously closed at $57.84.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ZG shares. Benchmark upped their target price on shares of Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Citigroup upped their price target on Zillow Group from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Susquehanna lifted their price objective on Zillow Group from $42.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, August 12th. DA Davidson reaffirmed a “buy” rating and issued a $52.00 target price on shares of Zillow Group in a report on Tuesday, June 18th. Finally, Evercore ISI lifted their price target on shares of Zillow Group from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average target price of $59.82.

Zillow Group Stock Performance

The stock has a 50-day moving average price of $50.21 and a 200 day moving average price of $46.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The company has a market cap of $13.86 billion, a price-to-earnings ratio of -83.83 and a beta of 2.00.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. The firm had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) EPS. As a group, analysts anticipate that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, insider Susan Daimler sold 3,484 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the transaction, the insider now owns 22,464 shares of the company’s stock, valued at $1,217,099.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Susan Daimler sold 3,484 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the sale, the insider now directly owns 22,464 shares in the company, valued at approximately $1,217,099.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total value of $199,381.50. Following the completion of the sale, the chief accounting officer now owns 79,694 shares in the company, valued at approximately $3,923,335.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,548 shares of company stock worth $10,221,048. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new stake in Zillow Group in the first quarter valued at approximately $32,000. Quadrant Capital Group LLC increased its holdings in Zillow Group by 45.1% in the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after purchasing an additional 237 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Zillow Group during the first quarter valued at about $53,000. Signaturefd LLC grew its holdings in shares of Zillow Group by 29.7% during the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after purchasing an additional 360 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Zillow Group in the first quarter valued at approximately $84,000. 20.32% of the stock is currently owned by institutional investors.

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.