Zillow Group (NASDAQ:ZG) Sees Unusually-High Trading Volume – What’s Next?

Shares of Zillow Group, Inc. (NASDAQ:ZG) saw strong trading volume on Friday . 610,007 shares were traded during mid-day trading, an increase of 6% from the previous session’s volume of 577,571 shares.The stock last traded at $69.40 and had previously closed at $69.27.

Analysts Set New Price Targets

A number of analysts have commented on ZG shares. Susquehanna lifted their target price on shares of Zillow Group from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Evercore ISI lifted their target price on shares of Zillow Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Cantor Fitzgerald lifted their target price on shares of Zillow Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Baird R W raised shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. Finally, Craig Hallum lifted their target price on shares of Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. 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’s stock. According to data from MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and a consensus price target of $82.25.

Zillow Group Stock Performance

The stock’s fifty day moving average price is $74.96 and its 200-day moving average price is $69.71. The company has a market capitalization of $16.94 billion, a P/E ratio of -148.37, a PEG ratio of 8.90 and a beta of 2.33.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share 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, research analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the transaction, the chief operating officer now owns 86,853 shares in the company, valued at $6,790,167.54. This represents a 38.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jennifer Rock sold 5,796 shares of the 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 transaction, the chief accounting officer now owns 51,370 shares in the company, valued at approximately $3,878,435. The trade was a 10.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,065 shares of company stock valued at $7,660,165 in the last three months. 17.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZG. Norges Bank bought a new position in Zillow Group in the 4th quarter valued at approximately $165,326,000. Arrowstreet Capital Limited Partnership lifted its stake in Zillow Group by 1,261.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock valued at $18,454,000 after purchasing an additional 241,331 shares during the last quarter. Virtu Financial LLC lifted its stake in Zillow Group by 101.3% in the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock valued at $29,775,000 after purchasing an additional 211,482 shares during the last quarter. Raymond James Financial Inc. bought a new position in Zillow Group in the 4th quarter valued at approximately $14,916,000. Finally, Cynosure Group LLC bought a new position in Zillow Group in the 3rd quarter valued at approximately $12,248,000. Institutional investors own 20.32% 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.