Zillow Group (NASDAQ:Z) Hits New 12-Month High – Still a Buy?

Zillow Group, Inc. (NASDAQ:Z)’s share price hit a new 52-week high on Thursday . The stock traded as high as $71.95 and last traded at $71.11, with a volume of 1142201 shares traded. The stock had previously closed at $58.68.

Analyst Ratings Changes

Z has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Thursday. Craig Hallum upgraded shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $50.00 to $80.00 in a report on Monday, September 16th. Cantor Fitzgerald raised shares of Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Finally, Jefferies Financial Group raised their price objective on shares of Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

Zillow Group Price Performance

The firm has a market cap of $16.44 billion, a P/E ratio of -116.16 and a beta of 1.95. The stock’s 50-day simple moving average is $60.87 and its two-hundred day simple moving average is $51.60. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.13. The firm had revenue of $572.00 million for the quarter, compared to the consensus estimate of $539.74 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. Equities research analysts forecast that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 3,208 shares of Zillow Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $52.84, for a total transaction of $169,510.72. Following the completion of the sale, the chief accounting officer now directly owns 76,486 shares in the company, valued at approximately $4,041,520.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jennifer Rock sold 3,208 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $52.84, for a total transaction of $169,510.72. Following the sale, the chief accounting officer now directly owns 76,486 shares in the company, valued at $4,041,520.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 217,949 shares of company stock worth $11,580,982 over the last three months. 23.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Zillow Group by 400.0% in the third 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 purchased a new stake in shares of Zillow Group during the third quarter worth $35,000. Larson Financial Group LLC raised its position 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 buying an additional 481 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Zillow Group in the first quarter worth about $37,000. Finally, Blue Trust Inc. grew its stake in Zillow Group by 66.3% during the 3rd quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 313 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.