Zillow Group (NASDAQ:ZG) Reaches New 1-Year High Following Analyst Upgrade

Zillow Group, Inc. (NASDAQ:ZG)’s share price reached a new 52-week high during mid-day trading on Wednesday after Citigroup raised their price target on the stock from $95.00 to $98.00. Citigroup currently has a buy rating on the stock. Zillow Group traded as high as $86.58 and last traded at $83.84, with a volume of 1436496 shares traded. The stock had previously closed at $85.29.

Several other equities research analysts also recently commented on the company. Susquehanna raised their target price on Zillow Group from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday. Cantor Fitzgerald lifted their price objective on shares of Zillow Group from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday. Robert W. Baird assumed coverage on shares of Zillow Group in a research report on Friday, January 31st. They set a “neutral” rating and a $88.00 target price on the stock. Benchmark raised their price target on shares of Zillow Group from $80.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Finally, Baird R W upgraded shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Insider Activity

In other news, CFO Jeremy Hofmann sold 23,388 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the sale, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. This represents a 19.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dan Spaulding sold 4,565 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $86.22, for a total value of $393,594.30. Following the transaction, the insider now owns 58,217 shares of the company’s stock, valued at $5,019,469.74. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,773 shares of company stock worth $5,383,314. 17.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds have recently added to or reduced their stakes in ZG. Creative Planning raised its holdings in shares of Zillow Group by 7.2% during the third quarter. Creative Planning now owns 6,537 shares of the technology company’s stock valued at $405,000 after buying an additional 439 shares during the last quarter. Vontobel Holding Ltd. raised its stake in Zillow Group by 4.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 16,407 shares of the technology company’s stock valued at $1,016,000 after acquiring an additional 750 shares in the last quarter. Private Advisor Group LLC acquired a new position in Zillow Group during the 3rd quarter worth $747,000. Avitas Wealth Management LLC acquired a new position in Zillow Group during the 3rd quarter worth $1,562,000. Finally, US Bancorp DE grew its stake in shares of Zillow Group by 6.5% in the third quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock worth $18,444,000 after purchasing an additional 18,136 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors.

Zillow Group Trading Up 0.7 %

The business has a fifty day moving average price of $75.63 and a 200 day moving average price of $65.79. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 11th. The technology company 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%. Sell-side analysts anticipate that Zillow Group, Inc. will post -0.42 EPS for the current 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.