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

Zillow Group, Inc. (NASDAQ:ZG) saw unusually-high trading volume on Friday . Approximately 610,007 shares were traded during trading, an increase of 6% from the previous session’s volume of 577,571 shares.The stock last traded at $69.40 and had previously closed at $69.27.

Analysts Set New Price Targets

ZG has been the topic of several recent analyst reports. JMP Securities increased their price objective on Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. KeyCorp decreased their target price on shares of Zillow Group from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Baird R W upgraded shares of Zillow Group to a “hold” rating in a research note on Friday, January 31st. Evercore ISI raised their target price on shares of Zillow Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Craig Hallum lifted their price objective on shares of Zillow Group from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.25.

Zillow Group Price Performance

The firm has a market capitalization of $16.93 billion, a P/E ratio of -148.47, a P/E/G ratio of 8.90 and a beta of 2.33. The stock’s fifty day simple moving average is $74.99 and its 200 day simple moving average is $69.95.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Tuesday, February 11th. The technology company 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 net margin of 5.01% and a negative return on equity of 2.12%. As a group, sell-side analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity at Zillow Group

In related news, CFO Jeremy Hofmann sold 23,388 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 99,362 shares in the company, valued at $8,443,782.76. This represents a 19.05 % 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, COO Jun Choo sold 55,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the sale, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,790,167.54. This represents a 38.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,065 shares of company stock worth $7,660,165 over the last quarter. Insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Zillow Group during the 4th quarter valued at approximately $165,326,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Zillow Group by 1,261.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock worth $18,454,000 after acquiring an additional 241,331 shares during the last quarter. Virtu Financial LLC increased its stake in shares of Zillow Group by 101.3% in the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock worth $29,775,000 after acquiring an additional 211,482 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Zillow Group in the 4th quarter worth $14,916,000. Finally, Cynosure Group LLC acquired a new stake in shares of Zillow Group in the 3rd quarter worth $12,248,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.