Zillow Group (NASDAQ:Z) Reaches New 12-Month High – What’s Next?

Zillow Group, Inc. (NASDAQ:Z)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $87.17 and last traded at $86.94, with a volume of 57776 shares trading hands. The stock had previously closed at $85.90.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on Z shares. Baird R W raised shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Thursday, November 7th. Morgan Stanley raised their price target on shares of Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Jefferies Financial Group boosted their price objective on Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Bank of America raised their target price on Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.83.

Zillow Group Trading Up 0.4 %

The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $78.60 and a two-hundred day moving average price of $66.88. The firm has a market capitalization of $20.14 billion, a price-to-earnings ratio of -151.44, a PEG ratio of 11.41 and a beta of 2.03.

Insiders Place Their Bets

In other news, insider Susan Daimler sold 3,694 shares of Zillow Group stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total transaction of $273,282.12. Following the sale, the insider now owns 18,770 shares of the company’s stock, valued at approximately $1,388,604.60. The trade was a 16.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Errol G. Samuelson sold 17,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $73.57, for a total value of $1,250,690.00. Following the completion of the transaction, the insider now owns 22,739 shares of the company’s stock, valued at $1,672,908.23. The trade was a 42.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,689 shares of company stock valued at $12,520,379. Insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. abrdn plc grew its stake in shares of Zillow Group by 98.0% in the third quarter. abrdn plc now owns 48,990 shares of the financial services provider’s stock valued at $3,128,000 after buying an additional 24,247 shares in the last quarter. IVY Lane Capital Management LLC boosted its holdings in Zillow Group by 35.0% during the 3rd quarter. IVY Lane Capital Management LLC now owns 135,000 shares of the financial services provider’s stock valued at $8,620,000 after acquiring an additional 35,000 shares during the period. Donoghue Forlines LLC acquired a new position in Zillow Group in the 4th quarter valued at about $1,932,000. Thrivent Financial for Lutherans purchased a new stake in Zillow Group during the third quarter worth about $6,267,000. Finally, Friedenthal Financial purchased a new stake in Zillow Group during the fourth quarter worth about $754,000. Institutional investors and hedge funds 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.