Zillow Group (NASDAQ:Z) Hits New 52-Week High at $61.52

Shares of Zillow Group, Inc. (NASDAQ:Z) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $61.52 and last traded at $61.52, with a volume of 27438 shares changing hands. The stock had previously closed at $59.74.

Analyst Upgrades and Downgrades

Z has been the topic of a number of recent analyst reports. UBS Group upgraded Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Craig Hallum upgraded Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Wedbush reiterated a “neutral” rating and issued a $50.00 price target on shares of Zillow Group in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.20.

Zillow Group Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a market capitalization of $14.30 billion, a P/E ratio of -86.58 and a beta of 1.94. The business has a 50 day simple moving average of $51.80 and a two-hundred day simple moving average of $48.16.

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, topping analysts’ consensus estimates of ($0.19) by $0.13. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The company had revenue of $572.00 million during the quarter, compared to the consensus estimate of $539.74 million. On average, sell-side analysts expect that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

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 value of $199,381.50. Following the completion of the sale, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at $3,923,335.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the transaction, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at $3,923,335.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 7,155 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $56.89, for a total value of $407,047.95. Following the transaction, the chief financial officer now owns 111,239 shares in the company, valued at approximately $6,328,386.71. The disclosure for this sale can be found here. Insiders have sold 198,548 shares of company stock worth $10,221,048 over the last ninety days. Insiders own 23.76% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several large investors have recently made changes to their positions in Z. Level Four Advisory Services LLC grew its position in Zillow Group by 0.9% during the 4th quarter. Level Four Advisory Services LLC now owns 33,058 shares of the financial services provider’s stock valued at $1,913,000 after purchasing an additional 282 shares during the last quarter. Flynn Zito Capital Management LLC lifted its position in Zillow Group by 7.2% during the second quarter. Flynn Zito Capital Management LLC now owns 4,810 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 325 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Zillow Group by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 86,527 shares of the financial services provider’s stock worth $4,221,000 after purchasing an additional 403 shares during the last quarter. Wedmont Private Capital grew its position in Zillow Group by 1.9% in the 1st quarter. Wedmont Private Capital now owns 24,920 shares of the financial services provider’s stock worth $1,196,000 after purchasing an additional 468 shares during the period. Finally, Larson Financial Group LLC raised its stake 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 valued at $28,000 after buying an additional 481 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

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.