Zillow Group (NASDAQ:ZG) Stock Price Up 4% – Still a Buy?

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

Wall Street Analyst Weigh In

ZG has been the topic of several analyst reports. DA Davidson raised their price objective on Zillow Group from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Piper Sandler decreased their price target on Zillow Group from $93.00 to $90.00 and set an “overweight” rating on the stock in a research note 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 research note on Monday, December 2nd. JMP Securities increased their price objective on shares of Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. Finally, Cantor Fitzgerald boosted their target price on shares of Zillow Group from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.25.

Zillow Group Trading Up 0.7 %

The firm has a market cap of $16.93 billion, a P/E ratio of -148.47, a P/E/G ratio of 8.90 and a beta of 2.33. The business’s 50-day moving average is $74.99 and its two-hundred day moving average is $69.83.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In other Zillow Group news, insider Errol G. Samuelson sold 6,967 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $541,475.24. Following the transaction, the insider now owns 127,467 shares of the company’s stock, valued at approximately $9,906,735.24. This represents a 5.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jun Choo sold 55,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total value of $4,299,900.00. Following the sale, the chief operating officer now directly owns 86,853 shares of the company’s stock, valued at approximately $6,790,167.54. This represents a 38.77 % 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 ninety days. Company insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently modified their holdings of the stock. L & S Advisors Inc acquired a new stake in shares of Zillow Group during the third quarter valued at approximately $1,579,000. Mirabella Financial Services LLP acquired a new stake in Zillow Group during the 3rd quarter valued at $11,351,000. JPMorgan Chase & Co. raised its stake in Zillow Group by 155.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company’s stock valued at $2,060,000 after purchasing an additional 20,238 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Zillow Group by 28.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company’s stock valued at $1,753,000 after purchasing an additional 5,539 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Zillow Group by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock worth $63,523,000 after buying an additional 32,766 shares during the period. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.