Zillow Group (NASDAQ:Z) Reaches New 1-Year High – Should You Buy?

Zillow Group, Inc. (NASDAQ:Z) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $76.77 and last traded at $76.49, with a volume of 961243 shares changing hands. The stock had previously closed at $75.25.

Analyst Ratings Changes

Z has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Thursday, November 7th. UBS Group upgraded shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group raised their target price on shares of Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Cantor Fitzgerald upgraded shares of Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Finally, Craig Hallum upgraded Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.33.

Zillow Group Stock Performance

The stock’s 50-day moving average price is $64.82 and its 200-day moving average price is $53.85. The company has a market capitalization of $19.33 billion, a price-to-earnings ratio of -144.12 and a beta of 1.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13.

Insiders Place Their Bets

In related news, insider Susan Daimler sold 3,484 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total transaction of $188,763.12. Following the sale, the insider now owns 22,464 shares of the company’s stock, valued at $1,217,099.52. This trade represents a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jun Choo sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $75.10, for a total transaction of $751,000.00. Following the completion of the transaction, the chief operating officer now owns 88,130 shares in the company, valued at approximately $6,618,563. This trade represents a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,419 shares of company stock worth $11,371,413. Insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in Z. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Zillow Group by 400.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 400 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Zillow Group during the 3rd quarter worth about $35,000. Larson Financial Group LLC increased its position in Zillow Group by 364.4% during the 2nd quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 481 shares in the last quarter. Blue Trust Inc. raised its holdings in Zillow Group by 66.3% in the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after buying an additional 313 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Zillow Group during the third quarter valued at approximately $74,000. Hedge funds and other institutional investors 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.