Zillow Group (NASDAQ:Z) Trading Up 4.1% – What’s Next?

Shares of Zillow Group, Inc. (NASDAQ:Z) were up 4.1% during trading on Thursday . The stock traded as high as $73.63 and last traded at $73.46. Approximately 1,490,982 shares were traded during trading, a decline of 55% from the average daily volume of 3,329,938 shares. The stock had previously closed at $70.57.

Analyst Ratings Changes

Several research firms have commented on Z. Wedbush restated an “outperform” rating and issued a $100.00 target price on shares of Zillow Group in a research note on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 12th. Baird R W raised shares of Zillow Group to a “hold” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zillow Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, KeyCorp raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Five research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Zillow Group Stock Performance

The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of -151.60, a price-to-earnings-growth ratio of 9.24 and a beta of 2.27. The business has a fifty day simple moving average of $77.57 and a 200 day simple moving average of $72.34.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider 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 net margin of 5.01% and a negative return on equity of 2.12%. On average, sell-side analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jeremy Hofmann sold 1,612 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total value of $136,987.76. Following the transaction, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at $8,443,782.76. The trade was a 1.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer Rock sold 5,796 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total transaction of $437,598.00. Following the sale, the chief accounting officer now directly owns 51,370 shares of the company’s stock, valued at approximately $3,878,435. This trade represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,065 shares of company stock valued at $7,660,165 in the last three months. Insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in Zillow Group by 5.5% during the third quarter. CIBC Asset Management Inc now owns 6,076 shares of the financial services provider’s stock worth $388,000 after buying an additional 318 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of Zillow Group in the 3rd quarter worth about $6,267,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Zillow Group in the 3rd quarter valued at about $234,000. Summit Trail Advisors LLC acquired a new position in Zillow Group during the 3rd quarter valued at about $567,000. Finally, Pekin Hardy Strauss Inc. increased its holdings in Zillow Group by 38.6% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 18,950 shares of the financial services provider’s stock worth $1,210,000 after purchasing an additional 5,275 shares in the last quarter. 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.