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

Zillow Group, Inc. (NASDAQ:ZG) shares hit a new 52-week high during mid-day trading on Thursday after Barclays raised their price target on the stock from $36.00 to $50.00. Barclays currently has an underweight rating on the stock. Zillow Group traded as high as $69.95 and last traded at $68.76, with a volume of 359297 shares changing hands. The stock had previously closed at $56.08.

A number of other analysts also recently issued reports on ZG. Citigroup raised their price target on Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Benchmark raised their price target on Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Evercore ISI raised their price target on Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday. JMP Securities raised their price target on Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Thursday. Finally, Canaccord Genuity Group raised their price target on Zillow Group from $56.00 to $64.00 and gave the stock a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.06.

Insider Activity

In other news, insider Dan Spaulding sold 2,991 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total transaction of $159,061.38. Following the transaction, the insider now owns 70,342 shares in the company, valued at $3,740,787.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Dan Spaulding sold 2,991 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total value of $159,061.38. Following the sale, the insider now owns 70,342 shares in the company, valued at $3,740,787.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now owns 5,652 shares in the company, valued at approximately $379,983.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,596 shares of company stock worth $3,938,581 over the last 90 days. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Hedge funds have recently bought and sold shares of the stock. Edgestream Partners L.P. boosted its position in Zillow Group by 140.6% in the 1st quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock worth $992,000 after purchasing an additional 12,116 shares in the last quarter. US Bancorp DE raised its stake in shares of Zillow Group by 42.6% during the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after buying an additional 73,504 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Zillow Group during the 1st quarter worth approximately $1,597,000. Russell Investments Group Ltd. raised its stake in shares of Zillow Group by 148.6% during the 1st quarter. Russell Investments Group Ltd. now owns 31,934 shares of the technology company’s stock worth $1,528,000 after buying an additional 19,087 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Zillow Group by 24.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company’s stock worth $2,233,000 after buying an additional 9,828 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Trading Up 1.7 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a market capitalization of $16.49 billion, a price-to-earnings ratio of -125.02 and a beta of 2.02. The company has a 50 day moving average price of $59.60 and a two-hundred day moving average price of $50.51.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.34% and a negative net margin of 6.17%. The business had revenue of $572.00 million during the quarter, compared to the consensus estimate of $538.36 million. During the same period in the prior year, the company posted ($0.05) EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. On average, research analysts forecast that Zillow Group, Inc. will post -0.33 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.