Zillow Group (NASDAQ:Z) Hits New 1-Year High After Analyst Upgrade

Zillow Group, Inc. (NASDAQ:Z)’s share price hit a new 52-week high during mid-day trading 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.

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

Insider Transactions at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 3,033 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $82.78, for a total value of $251,071.74. Following the completion of the transaction, the chief accounting officer now owns 57,166 shares of the company’s stock, valued at $4,732,201.48. This represents a 5.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Hofmann sold 23,388 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.98, for a total value of $1,987,512.24. Following the completion of the transaction, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at approximately $8,443,782.76. The trade was a 19.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,773 shares of company stock valued at $5,383,314. Corporate insiders own 23.76% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors have recently made changes to their positions in Z. Sanctuary Advisors LLC bought a new stake in shares of Zillow Group in the 2nd quarter valued at about $319,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Zillow Group by 400.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 400 shares in the last quarter. Creative Planning boosted its position in shares of Zillow Group by 3.0% during the 3rd quarter. Creative Planning now owns 19,139 shares of the financial services provider’s stock valued at $1,222,000 after purchasing an additional 558 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Zillow Group during the 3rd quarter valued at about $213,000. Finally, Armstrong Fleming & Moore Inc bought a new stake in shares of Zillow Group during the 3rd quarter valued at about $240,000. Institutional investors own 71.01% of the company’s stock.

Zillow Group Trading Up 0.6 %

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 firm has a 50-day moving average of $78.73 and a 200 day moving average of $68.13. The company has a market cap of $18.38 billion, a P/E ratio of -138.09, a price-to-earnings-growth ratio of 16.20 and a beta of 2.03.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. On average, analysts predict that Zillow Group, Inc. will post -0.42 earnings per share 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.