Zillow Group (NASDAQ:ZG) Shares Up 4% – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Craig Hallum increased their target price on Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Royal Bank of Canada restated an “outperform” rating and set a $88.00 price objective on shares of Zillow Group in a research note on Wednesday, February 12th. JMP Securities upped their target price on shares of Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a research note on Monday, December 16th. Bank of America raised their price target on shares of Zillow Group from $81.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Robert W. Baird assumed coverage on Zillow Group in a research report on Friday, January 31st. They issued a “neutral” rating and a $88.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.25.

Zillow Group Price Performance

The stock’s fifty day simple moving average is $74.99 and its 200-day simple moving average is $69.83. The firm has a market cap of $16.93 billion, a PE ratio of -148.47, a PEG ratio of 8.90 and a beta of 2.33.

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

Insider Activity at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction 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 transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. The trade was a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jun Choo sold 1,277 shares of Zillow Group stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the sale, the chief operating officer now owns 86,853 shares in the company, valued at approximately $6,750,215.16. This trade represents a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,065 shares of company stock worth $7,660,165. Company insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pilgrim Partners Asia Pte Ltd purchased a new position in Zillow Group during the 4th quarter valued at about $27,000. Blue Trust Inc. grew its holdings in Zillow Group by 70.2% during the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after buying an additional 172 shares during the last quarter. Asset Dedication LLC purchased a new position in Zillow Group during the fourth quarter worth $47,000. Assetmark Inc. boosted its stake in shares of Zillow Group by 18,875.0% during the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock valued at $54,000 after acquiring an additional 755 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Zillow Group by 24.0% during the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares in the last quarter. 20.32% of the stock is currently 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.