Zillow Group (NASDAQ:ZG) Sets New 12-Month High at $59.77

Zillow Group, Inc. (NASDAQ:ZG)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $59.77 and last traded at $59.77, with a volume of 5676 shares traded. The stock had previously closed at $57.84.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZG. UBS Group upped their price target on shares of Zillow Group from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Citigroup increased their price target on shares of Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. DA Davidson reissued a “buy” rating and set a $52.00 price objective on shares of Zillow Group in a research report on Tuesday, June 18th. Cantor Fitzgerald started coverage on Zillow Group in a research report on Thursday, September 5th. They set a “neutral” rating and a $47.00 target price on the stock. Finally, Benchmark boosted their price target on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and a consensus target price of $59.82.

Zillow Group Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a 50-day moving average price of $50.51 and a two-hundred day moving average price of $46.99. The stock has a market cap of $14.38 billion, a PE ratio of -88.23 and a beta of 2.00.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.08. The business had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) EPS. Sell-side analysts forecast that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, insider Dan Spaulding sold 2,991 shares of Zillow Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total value of $159,061.38. Following the completion of the transaction, the insider now owns 70,342 shares in the company, valued at $3,740,787.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Zillow Group news, CAO Jennifer Rock sold 4,050 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares in the company, valued at $3,923,335.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the completion of the sale, the insider now owns 70,342 shares of the company’s stock, valued at approximately $3,740,787.56. The disclosure for this sale can be found here. Insiders sold 201,374 shares of company stock worth $10,393,745 over the last 90 days. 17.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Zillow Group

Large investors have recently bought and sold shares of the business. Garde Capital Inc. lifted its holdings in Zillow Group by 132.7% during the 2nd quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock valued at $6,297,000 after buying an additional 79,733 shares in the last quarter. Scientech Research LLC bought a new stake in shares of Zillow Group during the second quarter valued at approximately $211,000. Selkirk Management LLC boosted its holdings in shares of Zillow Group by 37.4% in the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after purchasing an additional 87,300 shares during the period. Mark Asset Management LP bought a new position in Zillow Group in the second quarter worth approximately $4,524,000. Finally, Thrivent Financial for Lutherans increased its holdings in Zillow Group by 155.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 73,933 shares of the technology company’s stock worth $3,330,000 after purchasing an additional 44,959 shares during the period. Hedge funds and other institutional investors own 20.32% 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.