Zillow Group (NASDAQ:Z) Hits New 1-Year High – Time to Buy?

Zillow Group, Inc. (NASDAQ:Z)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $71.95 and last traded at $71.11, with a volume of 1142201 shares trading hands. The stock had previously closed at $58.68.

Analyst Ratings Changes

Z has been the topic of several analyst reports. UBS Group upgraded Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Morgan Stanley upped their price objective on Zillow Group from $46.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Cantor Fitzgerald upgraded shares of Zillow Group to a “hold” rating in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.33.

Zillow Group Stock Performance

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 company has a market capitalization of $16.44 billion, a price-to-earnings ratio of -116.16 and a beta of 1.95. The firm has a 50-day simple moving average of $60.87 and a two-hundred day simple moving average of $51.60.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. The firm had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $539.74 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. On average, sell-side analysts anticipate that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, Chairman Lloyd D. Frink sold 150,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the transaction, the chairman now directly owns 582 shares of the company’s stock, valued at $29,583.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Jeremy Wacksman sold 4,480 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $52.83, for a total transaction of $236,678.40. Following the completion of the transaction, the chief executive officer now owns 174,439 shares in the company, valued at approximately $9,215,612.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the sale, the chairman now owns 582 shares in the company, valued at approximately $29,583.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 217,949 shares of company stock valued at $11,580,982 in the last 90 days. Company insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in Z. Swiss National Bank boosted its holdings in shares of Zillow Group by 0.7% in the 3rd quarter. Swiss National Bank now owns 466,834 shares of the financial services provider’s stock valued at $29,807,000 after buying an additional 3,300 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in Zillow Group during the 3rd quarter worth $6,267,000. CIBC Asset Management Inc lifted its position in Zillow Group by 5.5% in the third quarter. CIBC Asset Management Inc now owns 6,076 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 318 shares during the last quarter. Entropy Technologies LP acquired a new position in Zillow Group in the third quarter valued at $1,370,000. Finally, Forum Financial Management LP purchased a new position in shares of Zillow Group during the third quarter worth about $261,000. Hedge funds and other institutional investors own 71.01% 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.