Zillow Group (NASDAQ:ZG) Sees Strong Trading Volume – Here’s What Happened

Zillow Group, Inc. (NASDAQ:ZG) saw an uptick in trading volume on Tuesday . 615,355 shares were traded during trading, an increase of 48% from the previous session’s volume of 414,430 shares.The stock last traded at $83.70 and had previously closed at $85.29.

Analyst Ratings Changes

A number of research firms have weighed in on ZG. Robert W. Baird started coverage on Zillow Group in a research note on Friday, January 31st. They issued a “neutral” rating and a $88.00 target price on the stock. The Goldman Sachs Group boosted their price objective on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Baird R W raised shares of Zillow Group to a “hold” rating in a research report on Friday, January 31st. Benchmark lifted their price target on shares of Zillow Group from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Finally, Barclays raised their price objective on Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Zillow Group has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Zillow Group Price Performance

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 stock has a fifty day simple moving average of $75.71 and a 200-day simple moving average of $65.41. The company has a market capitalization of $19.52 billion, a price-to-earnings ratio of -146.69, a P/E/G ratio of 15.65 and a beta of 2.09.

Insider Activity

In related news, insider Susan Daimler sold 3,694 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total value of $273,282.12. Following the completion of the sale, the insider now owns 18,770 shares of the company’s stock, valued at approximately $1,388,604.60. This represents a 16.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Bradley D. Owens sold 1,846 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $73.03, for a total transaction of $134,813.38. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,689 shares of company stock worth $12,520,379 over the last 90 days. 17.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Several large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after purchasing an additional 561 shares in the last quarter. CWM LLC boosted its position in Zillow Group by 18.6% in the 3rd quarter. CWM LLC now owns 34,258 shares of the technology company’s stock valued at $2,122,000 after buying an additional 5,377 shares during the period. Creative Planning grew its stake in shares of Zillow Group by 7.2% in the third quarter. Creative Planning now owns 6,537 shares of the technology company’s stock worth $405,000 after acquiring an additional 439 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Zillow Group by 4.8% during the third quarter. Vontobel Holding Ltd. now owns 16,407 shares of the technology company’s stock worth $1,016,000 after acquiring an additional 750 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in shares of Zillow Group in the third quarter valued at $747,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

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.