Zillow Group (NASDAQ:Z) Trading Up 4.1% - What's Next?

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

Wall Street Analysts Forecast Growth

Z has been the topic of a number of research reports. Wedbush reiterated an "outperform" rating and issued a $100.00 target price on shares of Zillow Group in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zillow Group from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Baird R W upgraded shares of Zillow Group to a "hold" rating in a research note on Friday, January 31st. KeyCorp raised shares of Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Sunday, February 2nd. Finally, Morgan Stanley upped their price objective on shares of Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Zillow Group currently has a consensus rating of "Moderate Buy" and an average price target of $82.00.

Zillow Group Stock Up 3.6 %

The stock has a fifty day moving average of $77.57 and a 200-day moving average of $72.60. The firm has a market capitalization of $17.90 billion, a P/E ratio of -157.13, a PEG ratio of 9.24 and a beta of 2.27.

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Zillow Group (NASDAQ:Z - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing analysts' consensus estimates 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%. As a group, analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity

In related news, CTO David A. Beitel sold 2,025 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.75, for a total value of $157,443.75. Following the completion of the transaction, the chief technology officer now directly owns 151,046 shares in the company, valued at approximately $11,743,826.50. The trade was a 1.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jun Choo sold 55,000 shares of Zillow Group stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the completion of the transaction, the chief operating officer now directly owns 86,853 shares in the company, valued at approximately $6,790,167.54. The trade was a 38.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,065 shares of company stock valued at $7,660,165 in the last ninety days. 23.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of Z. FMR LLC increased its position 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 worth $325,337,000 after buying 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. Caxton Associates LP acquired a new position in shares of Zillow Group during the 4th quarter worth approximately $51,835,000. Castle Hook Partners LP bought a new position in shares of Zillow Group during the fourth quarter worth approximately $49,887,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Zillow Group in the third quarter valued at approximately $38,310,000. 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.