Zillow Group (NASDAQ:Z) Sets New 52-Week High at $61.52

Zillow Group, Inc. (NASDAQ:Z)’s share price hit a new 52-week high on Monday . The company traded as high as $61.52 and last traded at $61.52, with a volume of 27438 shares changing hands. The stock had previously closed at $59.74.

Analysts Set New Price Targets

A number of research firms recently issued reports on Z. UBS Group raised shares of Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $50.00 to $80.00 in a research report on Monday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and an average target price of $63.20.

Zillow Group Stock Performance

The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of -91.03 and a beta of 1.94. The company has a 50-day moving average of $52.41 and a 200-day moving average of $48.25. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data 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. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The business had revenue of $572.00 million during the quarter, compared to the consensus estimate of $539.74 million. On average, equities research analysts forecast that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the sale, the chairman now owns 582 shares of the company’s stock, valued at $29,583.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the transaction, the chairman now directly owns 582 shares of the company’s stock, valued at $29,583.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 7,155 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $56.89, for a total transaction of $407,047.95. Following the completion of the transaction, the chief financial officer now owns 111,239 shares of the company’s stock, valued at approximately $6,328,386.71. The disclosure for this sale can be found here. Insiders have sold a total of 201,374 shares of company stock valued at $10,393,745 in the last quarter. Company insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

Institutional investors have recently modified their holdings of the company. Accretive Wealth Partners LLC raised its holdings in shares of Zillow Group by 4.3% in the 4th quarter. Accretive Wealth Partners LLC now owns 14,977 shares of the financial services provider’s stock worth $867,000 after purchasing an additional 616 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Zillow Group in the fourth quarter valued at $53,000. Norges Bank acquired a new stake in shares of Zillow Group during the 4th quarter valued at $34,718,000. Gladstone Institutional Advisory LLC bought a new stake in shares of Zillow Group during the 4th quarter worth $213,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Zillow Group by 13.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,730 shares of the financial services provider’s stock worth $332,000 after acquiring an additional 680 shares during the last quarter. Institutional investors and hedge funds own 71.01% 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.