Zillow Group (NASDAQ:Z) Reaches New 12-Month High – Should You Buy?

Shares of Zillow Group, Inc. (NASDAQ:Z) reached a new 52-week high during trading on Friday . The stock traded as high as $86.88 and last traded at $84.86, with a volume of 969397 shares changing hands. The stock had previously closed at $85.45.

Wall Street Analysts Forecast Growth

Several research firms have commented on Z. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a report on Thursday, November 7th. UBS Group raised shares of Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Bank of America raised their target price on shares of Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Cantor Fitzgerald raised shares of Zillow Group to a “hold” rating in a report on Thursday, September 5th. Finally, Jefferies Financial Group raised their price target on shares of Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and an average target price of $70.33.

Zillow Group Trading Down 0.9 %

The business’s 50 day moving average price is $67.44 and its two-hundred day moving average price is $55.51. 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 has a market capitalization of $19.78 billion, a price-to-earnings ratio of -149.91 and a beta of 1.95.

Insider Buying and Selling

In related news, insider Susan Daimler sold 3,484 shares of Zillow Group stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total transaction of $188,763.12. Following the sale, the insider now directly owns 22,464 shares in the company, valued at $1,217,099.52. This trade represents a 13.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 7,175 shares of Zillow Group stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $85.36, for a total transaction of $612,458.00. Following the sale, the chief financial officer now owns 99,362 shares in the company, valued at approximately $8,481,540.32. This represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,439 shares of company stock worth $11,576,823 in the last ninety days. Company insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in Z. Price T Rowe Associates Inc. MD raised its holdings in Zillow Group by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,263 shares of the financial services provider’s stock worth $4,355,000 after purchasing an additional 4,830 shares during the last quarter. Swedbank AB bought a new stake in shares of Zillow Group in the 1st quarter valued at $9,103,000. DNB Asset Management AS increased its stake in shares of Zillow Group by 24.7% in the 2nd quarter. DNB Asset Management AS now owns 26,834 shares of the financial services provider’s stock valued at $1,245,000 after acquiring an additional 5,308 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Zillow Group by 146.8% in the 2nd quarter. SG Americas Securities LLC now owns 146,246 shares of the financial services provider’s stock valued at $6,784,000 after acquiring an additional 87,000 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its stake in shares of Zillow Group by 946.1% in the 2nd quarter. Gateway Investment Advisers LLC now owns 178,207 shares of the financial services provider’s stock valued at $8,267,000 after acquiring an additional 161,172 shares in the last quarter. Institutional investors own 71.01% 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.