Zillow Group (NASDAQ:Z) Reaches New 12-Month High – Should You Buy?

Zillow Group, Inc. (NASDAQ:Z)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $86.88 and last traded at $84.86, with a volume of 969397 shares. The stock had previously closed at $85.45.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Zillow Group from $46.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.33.

Zillow Group Stock Performance

The stock’s 50-day moving average price is $67.44 and its 200 day moving average price is $55.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. The firm has a market cap of $19.78 billion, a P/E ratio of -149.91 and a beta of 1.95.

Insider Buying and Selling at Zillow Group

In other news, CFO Jeremy Hofmann sold 7,175 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $85.36, for a total value of $612,458.00. Following the transaction, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at $8,481,540.32. This represents a 6.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 completion of the transaction, the director now directly owns 5,652 shares in the company, valued at $379,983.96. The trade was a 78.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,439 shares of company stock worth $11,576,823 over the last quarter. 23.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently bought and sold shares of the business. Synovus Financial Corp bought a new position in Zillow Group during the third quarter worth about $311,000. Chiron Investment Management LLC bought a new position in Zillow Group during the third quarter worth about $1,291,000. Synergy Financial Group LTD bought a new position in Zillow Group during the third quarter worth about $223,000. Groupama Asset Managment bought a new position in Zillow Group during the third quarter worth about $83,005,000. Finally, Nomura Asset Management Co. Ltd. increased its position in Zillow Group by 15.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 45,760 shares of the financial services provider’s stock worth $2,922,000 after acquiring an additional 6,000 shares during the period. 71.01% of the stock is owned by institutional investors.

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.