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

Shares of Zillow Group, Inc. (NASDAQ:Z) hit a new 52-week high during trading on Wednesday . The company traded as high as $76.77 and last traded at $76.49, with a volume of 961243 shares traded. The stock had previously closed at $75.25.

Analyst Ratings Changes

Several research firms recently commented on Z. Cantor Fitzgerald upgraded shares of Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft increased their price target on Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Bank of America raised their target price on shares of Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group upgraded shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group upped their price objective on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

Zillow Group Price Performance

The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $64.38 and its 200 day moving average is $53.68.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Susan Daimler sold 3,484 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total transaction of $188,763.12. Following the sale, the insider now owns 22,464 shares in the company, valued at approximately $1,217,099.52. This trade represents a 13.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO David A. Beitel sold 56,750 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the completion of the transaction, the chief technology officer now owns 92 shares of the company’s stock, valued at approximately $6,659.88. The trade was a 99.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,419 shares of company stock worth $9,369,723. 23.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of Z. Brighton Jones LLC grew its position in Zillow Group by 2.4% in the third quarter. Brighton Jones LLC now owns 6,953 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 166 shares in the last quarter. Arkadios Wealth Advisors boosted its position in Zillow Group by 0.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 41,430 shares of the financial services provider’s stock valued at $2,645,000 after buying an additional 198 shares during the period. Doliver Advisors LP increased its position in shares of Zillow Group by 3.3% during the third quarter. Doliver Advisors LP now owns 9,681 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 310 shares during the period. Blue Trust Inc. boosted its holdings in shares of Zillow Group by 66.3% in the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 313 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Zillow Group by 5.5% in the third quarter. CIBC Asset Management Inc now owns 6,076 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 318 shares in the last quarter. Institutional investors own 71.01% 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.