Zillow Group (NASDAQ:ZG) Trading 4% Higher – Here’s Why

Zillow Group, Inc. (NASDAQ:ZG)’s share price shot up 4% during mid-day trading on Thursday . The company traded as high as $71.69 and last traded at $71.61. 161,916 shares traded hands during trading, a decline of 72% from the average session volume of 577,381 shares. The stock had previously closed at $68.85.

Analyst Ratings Changes

A number of brokerages have issued reports on ZG. Cantor Fitzgerald upped their price target on shares of Zillow Group from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Bank of America upped their price objective on shares of Zillow Group from $81.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Canaccord Genuity Group upped their price objective on shares of Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Baird R W raised shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. Finally, Stephens reaffirmed an “overweight” rating and issued a $73.00 price objective on shares of Zillow Group in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.25.

Zillow Group Price Performance

The firm has a market capitalization of $16.99 billion, a PE ratio of -148.57, a P/E/G ratio of 8.90 and a beta of 2.33. The company’s fifty day simple moving average is $74.94 and its 200-day simple moving average is $69.72.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. Analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 86,853 shares of the company’s stock, valued at approximately $6,790,167.54. The trade was a 38.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeremy Hofmann sold 1,612 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total transaction of $136,987.76. Following the sale, the chief financial officer now owns 99,362 shares in the company, valued at $8,443,782.76. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,065 shares of company stock worth $7,660,165 over the last 90 days. 17.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently made changes to their positions in ZG. L & S Advisors Inc purchased a new stake in shares of Zillow Group in the 3rd quarter worth about $1,579,000. Mirabella Financial Services LLP purchased a new stake in shares of Zillow Group in the 3rd quarter worth about $11,351,000. JPMorgan Chase & Co. boosted its position in shares of Zillow Group by 155.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company’s stock worth $2,060,000 after buying an additional 20,238 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Zillow Group by 28.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company’s stock worth $1,753,000 after buying an additional 5,539 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Zillow Group by 3.3% in 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 purchasing an additional 32,766 shares during the last quarter. 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.