Zillow Group (NASDAQ:ZG) Reaches New 12-Month High Following Analyst Upgrade

Zillow Group, Inc. (NASDAQ:ZG)’s stock price reached a new 52-week high during mid-day trading on Thursday after Evercore ISI raised their price target on the stock from $55.00 to $75.00. Evercore ISI currently has an outperform rating on the stock. Zillow Group traded as high as $69.95 and last traded at $68.76, with a volume of 359297 shares trading hands. The stock had previously closed at $56.08.

ZG has been the topic of a number of other research reports. DA Davidson upped their price target on shares of Zillow Group from $52.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Susquehanna lifted their price objective on shares of Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. JMP Securities restated a “market outperform” rating and set a $62.00 price objective on shares of Zillow Group in a research note on Wednesday, October 9th. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $50.00 to $80.00 in a report on Monday, September 16th. Finally, Benchmark upped their price objective on shares of Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and an average target price of $62.76.

Insider Activity at Zillow Group

In other news, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the sale, the chairman now owns 582 shares in the company, valued at $29,583.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the transaction, the chairman now owns 582 shares of the company’s stock, valued at approximately $29,583.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 217,949 shares of company stock valued at $11,580,982 over the last 90 days. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in ZG. Future Financial Wealth Managment LLC bought a new position in Zillow Group in the third quarter worth about $29,000. Fidelis Capital Partners LLC bought a new stake in Zillow Group during the first quarter worth about $32,000. EntryPoint Capital LLC bought a new position in shares of Zillow Group during the first quarter valued at approximately $53,000. Signaturefd LLC lifted its holdings in shares of Zillow Group by 29.7% during the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after purchasing an additional 360 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Zillow Group by 86.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after purchasing an additional 561 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Stock 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 stock has a market capitalization of $15.79 billion, a P/E ratio of -111.75 and a beta of 2.02. The business has a 50-day moving average price of $58.92 and a 200 day moving average price of $50.17.

Zillow Group (NASDAQ:ZG) last issued 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 firm had revenue of $572.00 million during the quarter, compared to the consensus estimate of $538.36 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share. As a group, sell-side analysts forecast that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

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.