Zillow Group (NASDAQ:Z) Reaches New 1-Year High - Still a Buy?

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $87.17 and last traded at $86.94, with a volume of 57776 shares traded. The stock had previously closed at $85.90.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on Z. Baird R W upgraded shares of Zillow Group to a "hold" rating in a research 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 lifted their price target on Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Bank of America increased their price objective on Zillow Group from $54.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Finally, KeyCorp raised Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Sunday, February 2nd. Five investment 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $72.83.

Zillow Group Trading Up 0.7 %

The company has a market cap of $20.55 billion, a price-to-earnings ratio of -154.33, a price-to-earnings-growth ratio of 16.20 and a beta of 2.03. The company's 50 day moving average price is $78.69 and its 200 day moving average price is $67.52. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13.

Insider Buying and Selling at Zillow Group

In other news, CTO David A. Beitel sold 56,750 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $72.39, for a total value of $4,108,132.50. Following the sale, the chief technology officer now owns 92 shares in the company, valued at approximately $6,659.88. This trade represents a 99.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,212 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total transaction of $89,663.76. Following the transaction, the general counsel now directly owns 31,739 shares in the company, valued at $2,348,051.22. This trade represents a 3.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,689 shares of company stock worth $12,520,379 over the last 90 days. Insiders own 23.76% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FMR LLC boosted its stake in Zillow Group by 179.5% in 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 bought a new position in shares of Zillow Group during the third quarter valued at $83,005,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Zillow Group in the 3rd quarter valued at $38,310,000. Bridgewater Associates LP grew its holdings in shares of Zillow Group by 428.2% in the 3rd quarter. Bridgewater Associates LP now owns 523,772 shares of the financial services provider's stock worth $33,443,000 after purchasing an additional 424,615 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Zillow Group by 8,162.8% during the 3rd quarter. International Assets Investment Management LLC now owns 246,397 shares of the financial services provider's stock worth $15,732,000 after purchasing an additional 243,415 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.