Zillow Group (NASDAQ:ZG) Hits New 1-Year High After Analyst Upgrade

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report)'s share price reached a new 52-week high on Thursday after Canaccord Genuity Group raised their price target on the stock from $56.00 to $64.00. Canaccord Genuity Group currently has a hold rating on the stock. Zillow Group traded as high as $69.95 and last traded at $68.76, with a volume of 359297 shares changing hands. The stock had previously closed at $56.08.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group lifted their price objective on Zillow Group from $42.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday. DA Davidson raised their target price on shares of Zillow Group from $71.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday. Citigroup boosted their price target on Zillow Group from $58.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Royal Bank of Canada raised their price objective on Zillow Group from $66.00 to $74.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Barclays upped their target price on Zillow Group from $35.00 to $36.00 and gave the company an "underweight" rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.28.

Insider Buying and Selling

In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now owns 5,652 shares of the company's stock, valued at $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Thielke Claire Cormier sold 2,826 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.11, for a total transaction of $172,696.86. Following the completion of the transaction, the director now owns 2,826 shares in the company, valued at $172,696.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now directly owns 5,652 shares in the company, valued at $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 217,949 shares of company stock worth $11,580,982. Corporate insiders own 17.14% of the company's stock.

Hedge Funds Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently made changes to their positions in ZG. Edgestream Partners L.P. lifted its holdings in Zillow Group by 140.6% in the first quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company's stock worth $992,000 after purchasing an additional 12,116 shares during the period. US Bancorp DE boosted its holdings in shares of Zillow Group by 42.6% in the first quarter. US Bancorp DE now owns 246,020 shares of the technology company's stock valued at $11,775,000 after acquiring an additional 73,504 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Zillow Group during the first quarter valued at approximately $1,597,000. Russell Investments Group Ltd. raised its holdings in Zillow Group by 148.6% during the first quarter. Russell Investments Group Ltd. now owns 31,934 shares of the technology company's stock worth $1,528,000 after purchasing an additional 19,087 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Zillow Group by 24.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company's stock worth $2,233,000 after purchasing an additional 9,828 shares during the period. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Price Performance

The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of -114.25 and a beta of 2.02. The business has a 50-day simple moving average of $58.92 and a two-hundred day simple moving average of $50.17. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The firm had revenue of $572.00 million during the quarter, compared to analysts' expectations of $538.36 million. During the same period last year, the firm posted ($0.05) earnings per share. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, research analysts predict that Zillow Group, Inc. will post -0.33 earnings per share 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.