Zillow Group (NASDAQ:ZG) Sets New 1-Year High After Analyst Upgrade

Shares of Zillow Group, Inc. (NASDAQ:ZG) hit a new 52-week high during mid-day trading on Wednesday after Citigroup raised their price target on the stock from $95.00 to $98.00. Citigroup currently has a buy rating on the stock. Zillow Group traded as high as $86.58 and last traded at $83.84, with a volume of 1436496 shares. The stock had previously closed at $85.29.

Several other equities analysts have also recently issued reports on ZG. Stephens reiterated an “overweight” rating and issued a $73.00 price target on shares of Zillow Group in a report on Wednesday. DA Davidson raised their target price on shares of Zillow Group from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group lifted their price target on shares of Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Evercore ISI increased their price objective on shares of Zillow Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Baird R W raised shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Insider Transactions at Zillow Group

In related news, COO Jun Choo sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $75.10, for a total value of $751,000.00. Following the completion of the transaction, the chief operating officer now directly owns 88,130 shares of the company’s stock, valued at approximately $6,618,563. This represents a 10.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the sale, the chief financial officer now directly owns 99,362 shares in the company, valued at $8,443,782.76. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,773 shares of company stock valued at $5,383,314 over the last 90 days. 17.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd bought a new stake in Zillow Group during the 4th quarter worth about $27,000. Blue Trust Inc. increased its position in shares of Zillow Group by 70.2% in the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after acquiring an additional 172 shares during the last quarter. Asset Dedication LLC bought a new stake in Zillow Group during the fourth quarter worth about $47,000. Assetmark Inc. boosted its position in Zillow Group by 18,875.0% during the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock valued at $54,000 after purchasing an additional 755 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Zillow Group by 24.0% during the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock valued at $58,000 after purchasing an additional 159 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Stock Up 0.7 %

The stock has a 50 day simple moving average of $75.63 and a two-hundred day simple moving average of $65.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. On average, research analysts predict that Zillow Group, Inc. will post -0.42 earnings per share for the current fiscal year.

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.