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

Zillow Group, Inc. (NASDAQ:ZG)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $74.03 and last traded at $73.88, with a volume of 133662 shares. The stock had previously closed at $72.55.

Wall Street Analysts Forecast Growth

Several research firms have commented on ZG. Benchmark boosted their target price on Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Canaccord Genuity Group increased their target price on Zillow Group from $56.00 to $64.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $47.00 price target on shares of Zillow Group in a research report on Monday, October 7th. UBS Group increased their target price on Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.18.

Zillow Group Trading Up 5.2 %

The stock has a market capitalization of $18.43 billion, a P/E ratio of -138.47 and a beta of 2.02. 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 company has a 50-day moving average price of $63.21 and a 200 day moving average price of $52.46.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $581.00 million during the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) EPS. On average, research analysts forecast that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In related news, COO Jun Choo sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $75.10, for a total transaction of $751,000.00. Following the transaction, the chief operating officer now directly owns 88,130 shares of the company’s stock, valued at $6,618,563. This represents a 10.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jeremy Hofmann sold 7,155 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $56.89, for a total value of $407,047.95. Following the transaction, the chief financial officer now directly owns 111,239 shares in the company, valued at $6,328,386.71. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 160,419 shares of company stock valued at $11,371,413. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Large investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new stake in Zillow Group during the 3rd quarter valued at about $29,000. EntryPoint Capital LLC purchased a new stake in shares of Zillow Group in the first quarter worth about $53,000. GAMMA Investing LLC boosted its stake in shares of Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after buying an additional 561 shares during the last quarter. Pinpoint Asset Management Ltd purchased a new stake in shares of Zillow Group in the third quarter worth about $95,000. Finally, Signaturefd LLC boosted its stake in shares of Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after buying an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 20.32% 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.