Zillow Group (NASDAQ:Z) Hits New 52-Week High – Still a Buy?

Zillow Group, Inc. (NASDAQ:Z)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $86.88 and last traded at $84.86, with a volume of 969397 shares changing hands. The stock had previously closed at $85.45.

Analysts Set New Price Targets

A number of brokerages have commented on Z. Deutsche Bank Aktiengesellschaft raised their price target on shares of Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Thursday, November 7th. Morgan Stanley increased their price objective on Zillow Group from $46.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Craig Hallum raised Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Finally, UBS Group raised shares of Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Four 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 stock. According to MarketBeat.com, Zillow Group has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

Zillow Group Stock Performance

The stock has a market cap of $19.78 billion, a price-to-earnings ratio of -148.61 and a beta of 1.95. 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 firm has a fifty day simple moving average of $67.80 and a 200-day simple moving average of $55.81.

Insider Transactions at Zillow Group

In related news, Director Erik C. Blachford sold 1,413 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $54.87, for a total value of $77,531.31. Following the sale, the director now directly owns 35,403 shares in the company, valued at $1,942,562.61. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. This represents a 78.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,439 shares of company stock worth $11,576,823 in the last quarter. 23.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Large investors have recently modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Zillow Group by 400.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Zillow Group in the 3rd quarter valued at about $35,000. Larson Financial Group LLC lifted its holdings in shares of Zillow Group by 364.4% in the second quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 481 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Zillow Group by 66.3% during the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock worth $50,000 after buying an additional 313 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Zillow Group during the third quarter worth about $74,000. 71.01% 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.