Zillow Group (NASDAQ:Z) Hits New 52-Week High on Analyst Upgrade

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $90.00 to $95.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Zillow Group traded as high as $89.39 and last traded at $86.32, with a volume of 4451636 shares changing hands. The stock had previously closed at $87.97.

A number of other research firms have also commented on Z. KeyCorp upgraded Zillow Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, February 2nd. Morgan Stanley upped their price target on Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Needham & Company LLC reiterated a "hold" rating on shares of Zillow Group in a research report on Thursday, November 7th. Jefferies Financial Group upped their price target on Zillow Group from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Finally, Bank of America upped their price target 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 given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.00.

Insider Buying and Selling

In other Zillow Group news, CAO Jennifer Rock sold 5,796 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total value of $437,598.00. Following the completion of the sale, the chief accounting officer now owns 51,370 shares of the company's stock, valued at approximately $3,878,435. This trade represents a 10.14 % 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, insider Errol G. Samuelson sold 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $73.57, for a total value of $1,250,690.00. Following the completion of the sale, the insider now directly owns 22,739 shares of the company's stock, valued at $1,672,908.23. This trade represents a 42.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,838 shares of company stock valued at $6,619,079 over the last 90 days. Company insiders own 23.76% of the company's stock.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in Z. FMR LLC raised 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 acquiring an additional 3,272,118 shares during the period. Groupama Asset Managment bought a new stake in Zillow Group in the 3rd quarter valued at about $83,005,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Zillow Group in the 3rd quarter valued at about $38,310,000. Bridgewater Associates LP raised its stake in Zillow Group by 428.2% in the 3rd quarter. Bridgewater Associates LP now owns 523,772 shares of the financial services provider's stock valued at $33,443,000 after acquiring an additional 424,615 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Zillow Group during the 4th quarter valued at about $27,769,000. 71.01% of the stock is currently owned by institutional investors.

Zillow Group Stock Up 1.6 %

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 firm has a market cap of $18.68 billion, a PE ratio of -140.30, a price-to-earnings-growth ratio of 16.20 and a beta of 2.03. The stock has a fifty day simple moving average of $78.64 and a two-hundred day simple moving average of $68.55.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. As a group, sell-side analysts expect that Zillow Group, Inc. will post -0.42 EPS for the current fiscal year.

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.