Zillow Group (NASDAQ:Z) Reaches New 52-Week High – Here’s Why

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Bank of America increased their price objective on Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. KeyCorp raised Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, February 2nd. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research note on Thursday, November 7th. Baird R W upgraded shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. Finally, Jefferies Financial Group increased their price objective on Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Five research 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.83.

Zillow Group Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. The firm’s fifty day moving average price is $78.63 and its 200-day moving average price is $67.02.

Insider Activity

In other news, insider Susan Daimler sold 3,694 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total value of $273,282.12. Following the transaction, the insider now owns 18,770 shares of the company’s stock, valued at approximately $1,388,604.60. This represents a 16.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Bradley D. Owens sold 1,212 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total value of $89,663.76. Following the completion of the transaction, the general counsel now owns 31,739 shares of the company’s stock, valued at $2,348,051.22. The trade was a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,689 shares of company stock worth $12,520,379 in the last three months. Company insiders own 23.76% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Zillow Group by 400.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Zillow Group during the third quarter valued at approximately $35,000. Blue Trust Inc. grew its position in Zillow Group by 66.3% in the 3rd quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 313 shares during the last quarter. Assetmark Inc. increased its stake in Zillow Group by 7,410.0% in the 4th quarter. Assetmark Inc. now owns 751 shares of the financial services provider’s stock worth $56,000 after buying an additional 741 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Zillow Group in the third quarter valued at approximately $74,000. Institutional investors own 71.01% of the company’s stock.

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.