Zillow Group (NASDAQ:Z) Trading Up 4.1% – Here’s What Happened

Shares of Zillow Group, Inc. (NASDAQ:Z) were up 4.1% during mid-day trading on Thursday . The stock traded as high as $73.63 and last traded at $73.46. Approximately 1,490,982 shares changed hands during trading, a decline of 55% from the average daily volume of 3,329,938 shares. The stock had previously closed at $70.57.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on Z shares. Baird R W upgraded shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. KeyCorp upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, February 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Zillow Group in a report on Wednesday, February 12th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Zillow Group Price Performance

The firm’s 50 day moving average price is $77.58 and its 200-day moving average price is $72.24. The stock has a market cap of $17.40 billion, a P/E ratio of -152.22, a P/E/G ratio of 9.24 and a beta of 2.27.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share 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%. On average, analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Activity

In other news, insider Errol G. Samuelson sold 6,967 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $541,475.24. Following the transaction, the insider now owns 127,467 shares in the company, valued at $9,906,735.24. This represents a 5.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jun Choo sold 1,277 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $99,248.44. Following the completion of the transaction, the chief operating officer now owns 86,853 shares in the company, valued at $6,750,215.16. This trade represents a 1.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,065 shares of company stock valued at $7,660,165 over the last three months. Insiders own 23.76% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Zillow Group by 179.5% during the 3rd quarter. FMR LLC now owns 5,095,336 shares of the financial services provider’s stock valued at $325,337,000 after buying an additional 3,272,118 shares in the last quarter. Groupama Asset Managment purchased a new stake in Zillow Group during the 3rd quarter valued at approximately $83,005,000. Caxton Associates LP purchased a new stake in Zillow Group during the 4th quarter valued at approximately $51,835,000. Castle Hook Partners LP purchased a new stake in Zillow Group during the 4th quarter valued at approximately $49,887,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Zillow Group in the third quarter valued at $38,310,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.