Zillow Group (NASDAQ:Z) Sets New 52-Week High Following Analyst Upgrade

Shares of Zillow Group, Inc. (NASDAQ:Z) hit a new 52-week high on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $90.00 to $95.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Zillow Group traded as high as $89.39 and last traded at $86.32, with a volume of 4451636 shares trading hands. The stock had previously closed at $87.97.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group lifted their price target on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley boosted their target price on shares of Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Bank of America upped their price target on shares of Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. KeyCorp upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, February 2nd. Finally, Baird R W upgraded Zillow Group to a “hold” rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Insider Transactions at Zillow Group

In related news, COO Jun Choo sold 10,000 shares of Zillow Group stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $75.10, for a total value of $751,000.00. Following the completion of the transaction, the chief operating officer now directly owns 88,130 shares in the company, valued at approximately $6,618,563. This trade represents a 10.19 % 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, General Counsel Bradley D. Owens sold 1,846 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $73.03, for a total value of $134,813.38. Following the sale, the general counsel now owns 29,893 shares in the company, valued at $2,183,085.79. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,730 shares of company stock valued at $10,896,034. 23.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in Zillow Group by 179.5% during the 3rd quarter. FMR LLC now owns 5,095,336 shares of the financial services provider’s stock worth $325,337,000 after buying an additional 3,272,118 shares during the last quarter. Ninety One UK Ltd boosted its holdings in shares of Zillow Group by 3.2% during the fourth quarter. Ninety One UK Ltd now owns 3,617,761 shares of the financial services provider’s stock valued at $267,895,000 after acquiring an additional 111,231 shares during the period. Geode Capital Management LLC grew its position in shares of Zillow Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,878,124 shares of the financial services provider’s stock worth $212,745,000 after acquiring an additional 28,728 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Zillow Group by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,538,709 shares of the financial services provider’s stock worth $113,941,000 after acquiring an additional 11,727 shares during the last quarter. Finally, Groupama Asset Managment acquired a new stake in shares of Zillow Group in the 3rd quarter worth about $83,005,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Zillow Group Stock 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 company’s 50-day moving average is $78.73 and its two-hundred day moving average is $68.13. The stock has a market capitalization of $18.27 billion, a P/E ratio of -137.21, a P/E/G ratio of 16.20 and a beta of 2.03.

Zillow Group (NASDAQ:Z) last posted its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. As a group, sell-side analysts anticipate that Zillow Group, Inc. will post -0.42 EPS for the current fiscal year.

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.