Zillow Group (NASDAQ:ZG) Reaches New 52-Week High - What's Next?

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $83.67 and last traded at $81.95, with a volume of 72380 shares. The stock had previously closed at $82.33.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ZG shares. Evercore ISI boosted their target price on Zillow Group from $55.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on Zillow Group from $66.00 to $74.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. JMP Securities upped their target price on Zillow Group from $62.00 to $82.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 7th. Piper Sandler reissued an "overweight" rating and issued a $73.00 price target (up previously from $62.00) on shares of Zillow Group in a research report on Thursday, November 7th. Finally, Craig Hallum upped their price objective on shares of Zillow Group from $70.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Zillow Group presently has an average rating of "Moderate Buy" and a consensus price target of $69.65.

Zillow Group Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. The firm has a market capitalization of $19.04 billion, a P/E ratio of -143.04 and a beta of 2.02. The stock has a 50 day moving average of $65.55 and a 200-day moving average of $54.12.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.03. The business had revenue of $581.00 million during the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. Zillow Group's revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) EPS. Research analysts predict that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In related news, insider Susan Daimler sold 3,484 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the sale, the insider now directly owns 22,464 shares of the company's stock, valued at $1,217,099.52. This trade represents a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jennifer Rock sold 3,187 shares of Zillow Group stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $74.00, for a total transaction of $235,838.00. Following the sale, the chief accounting officer now owns 69,649 shares of the company's stock, valued at approximately $5,154,026. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,439 shares of company stock valued at $11,576,823. Corporate insiders own 17.14% of the company's stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently modified their holdings of ZG. Price T Rowe Associates Inc. MD raised its stake in shares of Zillow Group by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,501 shares of the technology company's stock worth $1,556,000 after acquiring an additional 1,526 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Zillow Group in the 1st quarter worth $1,597,000. California State Teachers Retirement System lifted its stake in Zillow Group by 169.9% in the first quarter. California State Teachers Retirement System now owns 24,773 shares of the technology company's stock worth $1,186,000 after purchasing an additional 15,594 shares during the last quarter. Wedmont Private Capital boosted its position in Zillow Group by 4.2% during the second quarter. Wedmont Private Capital now owns 12,483 shares of the technology company's stock valued at $610,000 after buying an additional 504 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Zillow Group by 24.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company's stock valued at $2,233,000 after buying an additional 9,828 shares during the period. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.