Zillow Group (NASDAQ:ZG) Sees Strong Trading Volume - Here's What Happened

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 610,007 shares traded hands during mid-day trading, an increase of 6% from the previous session's volume of 577,571 shares.The stock last traded at $69.40 and had previously closed at $69.27.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Bank of America boosted their target price on Zillow Group from $81.00 to $84.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Baird R W upgraded shares of Zillow Group to a "hold" rating in a research report on Friday, January 31st. Citigroup lifted their target price on shares of Zillow Group from $95.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Susquehanna raised their price objective on shares of Zillow Group from $75.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Evercore ISI lifted their price objective on shares of Zillow Group from $75.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $82.25.

Zillow Group Stock Performance

The firm has a market cap of $17.48 billion, a PE ratio of -153.34, a PEG ratio of 8.90 and a beta of 2.33. The company's 50-day simple moving average is $75.14 and its two-hundred day simple moving average is $70.37.

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Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) EPS 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 EPS for the current year.

Insiders Place Their Bets

In other news, COO Jun Choo sold 55,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the sale, the chief operating officer now directly owns 86,853 shares of the company's stock, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jennifer Rock sold 5,796 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total transaction of $437,598.00. Following the transaction, the chief accounting officer now owns 51,370 shares in the company, valued at $3,878,435. This represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,065 shares of company stock worth $7,660,165. 17.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Zillow Group in the fourth quarter worth $165,326,000. Geode Capital Management LLC boosted its holdings in shares of Zillow Group by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company's stock valued at $63,523,000 after buying an additional 32,766 shares in the last quarter. State Street Corp grew its position in shares of Zillow Group by 0.4% in the 3rd quarter. State Street Corp now owns 805,279 shares of the technology company's stock worth $49,871,000 after buying an additional 2,832 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Zillow Group by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 445,664 shares of the technology company's stock worth $31,578,000 after acquiring an additional 27,345 shares in the last quarter. Finally, Virtu Financial LLC increased its stake in shares of Zillow Group by 101.3% in the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock worth $29,775,000 after acquiring an additional 211,482 shares in the last quarter. Institutional investors own 20.32% of the company's stock.

Zillow Group Company Profile

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.