Zillow Group (NASDAQ:Z) Trading 6% Higher – What’s Next?

Zillow Group, Inc. (NASDAQ:Z) shares shot up 6% during mid-day trading on Friday . The company traded as high as $43.46 and last traded at $43.7390. 624,162 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 4,511,713 shares. The stock had previously closed at $41.25.

Analysts Set New Price Targets

A number of research firms recently commented on Z. Barclays raised shares of Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods decreased their price target on Zillow Group from $80.00 to $65.00 and set a “market perform” rating on the stock in a research note on Monday, February 9th. Mizuho cut Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Finally, Zelman & Associates raised Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $90.60.

Zillow Group Trading Up 4.0%

The firm has a market capitalization of $10.29 billion, a PE ratio of 476.72, a PEG ratio of 2.40 and a beta of 2.10. The stock’s 50 day moving average price is $55.37 and its two-hundred day moving average price is $68.48.

Zillow Group (NASDAQ:Z) last posted its earnings results on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The company had revenue of $654.00 million during the quarter, compared to analysts’ expectations of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. Analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other news, CEO Jeremy Wacksman sold 13,661 shares of Zillow Group stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total transaction of $604,499.25. Following the completion of the sale, the chief executive officer directly owned 116,322 shares in the company, valued at $5,147,248.50. The trade was a 10.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Bradley D. Owens sold 2,602 shares of Zillow Group stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $44.42, for a total transaction of $115,580.84. Following the completion of the sale, the general counsel directly owned 33,355 shares of the company’s stock, valued at $1,481,629.10. The trade was a 7.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 60,801 shares of company stock valued at $2,683,986. 25.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC purchased a new stake in shares of Zillow Group during the 3rd quarter worth about $27,000. V Square Quantitative Management LLC purchased a new position in Zillow Group in the fourth quarter valued at approximately $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Zillow Group during the third quarter valued at approximately $29,000. Cullen Frost Bankers Inc. lifted its position in Zillow Group by 58.6% during the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock valued at $34,000 after buying an additional 163 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in Zillow Group by 58.2% during the second quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock worth $35,000 after buying an additional 185 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.