Zillow Group (NASDAQ:ZG) Hits New 12-Month High Following Analyst Upgrade

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday after Citigroup raised their price target on the stock from $95.00 to $98.00. Citigroup currently has a buy rating on the stock. Zillow Group traded as high as $86.58 and last traded at $83.84, with a volume of 1436496 shares traded. The stock had previously closed at $85.29.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $88.00 price objective on shares of Zillow Group in a research report on Wednesday. Canaccord Genuity Group boosted their target price on shares of Zillow Group from $64.00 to $86.00 and gave the company a "hold" rating in a research note on Monday, December 2nd. Benchmark boosted their target price on shares of Zillow Group from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Piper Sandler dropped their target price on shares of Zillow Group from $93.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Baird R W upgraded shares of Zillow Group to a "hold" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Insiders Place Their Bets

In other news, CAO Jennifer Rock sold 5,796 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total value of $437,598.00. Following the transaction, the chief accounting officer now owns 51,370 shares of the company's stock, valued at $3,878,435. This represents a 10.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Errol G. Samuelson sold 17,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $73.57, for a total transaction of $1,250,690.00. Following the completion of the transaction, the insider now directly owns 22,739 shares in the company, valued at $1,672,908.23. The trade was a 42.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,838 shares of company stock worth $6,619,079 in the last three months. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC grew its holdings in shares of Zillow Group by 2,728.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 96,801 shares of the technology company's stock valued at $6,858,000 after purchasing an additional 93,378 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Zillow Group by 2.5% during the 4th quarter. Northern Trust Corp now owns 247,078 shares of the technology company's stock valued at $17,505,000 after purchasing an additional 6,088 shares during the last quarter. Empire Financial Management Company LLC bought a new position in shares of Zillow Group during the 4th quarter valued at $1,771,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Zillow Group by 8.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,993 shares of the technology company's stock valued at $2,551,000 after purchasing an additional 2,673 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Zillow Group by 35.8% during the 4th quarter. Hsbc Holdings PLC now owns 6,454 shares of the technology company's stock valued at $457,000 after purchasing an additional 1,703 shares during the last quarter. Institutional investors own 20.32% of the company's stock.

Zillow Group Stock Performance

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 company's fifty day moving average is $75.58 and its 200 day moving average is $66.12. The company has a market cap of $17.96 billion, a P/E ratio of -134.89, a price-to-earnings-growth ratio of 15.65 and a beta of 2.09.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate 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, equities analysts predict that Zillow Group, Inc. will post -0.42 earnings per share for the current fiscal year.

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.