Zillow Group (NASDAQ:Z) Reaches New 1-Year High – Still a Buy?

Zillow Group, Inc. (NASDAQ:Z)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $87.17 and last traded at $86.94, with a volume of 57776 shares trading hands. The stock had previously closed at $85.90.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on Z. Jefferies Financial Group boosted their target price on shares of Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their price target on shares of Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. KeyCorp raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Baird R W upgraded Zillow Group to a “hold” rating in a report on Friday, January 31st. Finally, Bank of America upped their target price on shares of Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.83.

Zillow Group Price Performance

The company has a fifty day moving average of $78.63 and a two-hundred day moving average of $67.02. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

Insiders Place Their Bets

In other news, insider Dan Spaulding sold 4,565 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $86.22, for a total value of $393,594.30. Following the completion of the transaction, the insider now directly owns 58,217 shares in the company, valued at approximately $5,019,469.74. This represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeremy Hofmann sold 1,612 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the sale, the chief financial officer now owns 99,362 shares of the company’s stock, valued at approximately $8,443,782.76. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,689 shares of company stock worth $12,520,379. 23.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Zillow Group by 400.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 400 shares during the period. V Square Quantitative Management LLC purchased a new position in Zillow Group during the 3rd quarter worth approximately $35,000. Assetmark Inc. raised its position in Zillow Group by 7,410.0% during the fourth quarter. Assetmark Inc. now owns 751 shares of the financial services provider’s stock valued at $56,000 after buying an additional 741 shares during the period. Blue Trust Inc. lifted its position in shares of Zillow Group by 66.3% in the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 313 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Zillow Group by 53.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider’s stock valued at $79,000 after buying an additional 367 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

About Zillow Group

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.