Zillow Group (NASDAQ:ZG) Sets New 52-Week High – What’s Next?

Zillow Group, Inc. (NASDAQ:ZG) reached a new 52-week high during trading on Friday . The company traded as high as $83.67 and last traded at $81.95, with a volume of 72380 shares trading hands. The stock had previously closed at $82.33.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group raised their price objective on shares of Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Susquehanna raised their price target on shares of Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Piper Sandler reiterated an “overweight” rating and issued a $73.00 price objective (up previously from $62.00) on shares of Zillow Group in a research report on Thursday, November 7th. Finally, Craig Hallum boosted their target price on Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.65.

Zillow Group Stock Down 0.6 %

The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The company has a market cap of $19.11 billion, a PE ratio of -144.44 and a beta of 2.02. The company’s fifty day moving average is $65.22 and its 200-day moving average is $53.84.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $581.00 million during the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. Zillow Group’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) EPS. On average, analysts predict that Zillow Group, Inc. will post -0.33 EPS for the current year.

Insider Activity

In other Zillow Group news, insider Susan Daimler sold 3,484 shares of Zillow Group stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the sale, the insider now directly owns 22,464 shares in the company, valued at approximately $1,217,099.52. The trade was a 13.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO David A. Beitel sold 56,750 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the sale, the chief technology officer now owns 92 shares in the company, valued at $6,659.88. This represents a 99.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,439 shares of company stock valued at $11,576,823 in the last ninety days. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Large investors have recently made changes to their positions in the business. Cynosure Group LLC bought a new stake in Zillow Group during the third quarter worth approximately $12,248,000. Mirabella Financial Services LLP bought a new position in shares of Zillow Group during the 3rd quarter valued at approximately $11,351,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in Zillow Group in the third quarter worth $9,813,000. Virtu Financial LLC boosted its stake in Zillow Group by 132.1% during the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock worth $12,929,000 after buying an additional 118,830 shares during the period. Finally, CreativeOne Wealth LLC lifted its holdings in shares of Zillow Group by 164.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 179,700 shares of the technology company’s stock worth $11,129,000 after acquiring an additional 111,743 shares during the last quarter. 20.32% of the stock is currently owned by 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.