Zillow Group (NASDAQ:Z) Stock Jumps 5.8% – Should You Buy?

Zillow Group, Inc. (NASDAQ:Z) rose 5.8% during mid-day trading on Thursday. The company traded as high as $28.73 and last traded at $28.8630. Approximately 2,441,613 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 4,128,993 shares. The stock had previously closed at $27.28.

Analysts Set New Price Targets

Several brokerages recently commented on Z. Keefe, Bruyette & Woods reduced their target price on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating for the company in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Jefferies Financial Group cut their price target on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen downgraded shares of Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Zillow Group presently has an average rating of “Hold” and a consensus target price of $61.29.

Zillow Group Trading Down 0.5%

The business has a 50 day moving average of $32.38 and a two-hundred day moving average of $35.48. The firm has a market cap of $6.52 billion, a P/E ratio of 131.87, a PEG ratio of 1.27 and a beta of 2.04.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. On average, sell-side analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current year.

Insider Activity at Zillow Group

In related news, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $193,492.98. Following the completion of the sale, the chief financial officer directly owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. This trade represents a 8.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of the transaction, the chief executive officer directly owned 138,574 shares in the company, valued at approximately $4,736,459.32. This represents a 6.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 38,539 shares of company stock valued at $1,323,800 in the last 90 days. Corporate insiders own 25.03% of the company’s stock.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its position in shares of Zillow Group by 704.4% in the third quarter. Farther Finance Advisors LLC now owns 5,631 shares of the financial services provider’s stock valued at $153,000 after buying an additional 4,931 shares in the last quarter. Engineers Gate Manager LP bought a new position in Zillow Group during the 2nd quarter worth $4,676,000. Integrated Wealth Concepts LLC bought a new position in Zillow Group during the 2nd quarter worth $78,000. Maven Securities LTD raised its stake in Zillow Group by 80.0% in the second quarter. Maven Securities LTD now owns 73,385 shares of the financial services provider’s stock valued at $2,313,000 after purchasing an additional 32,616 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of Zillow Group during the 2nd quarter worth $238,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

About Zillow Group

Zillow Group, Inc is a technology company that operates digital real estate marketplaces and related services in the United States. Its platforms help consumers search for homes to buy or rent, research neighborhoods and property values, connect with real estate professionals, and manage aspects of the transaction process.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, along with services such as Zillow Premier Agent, Zillow Rentals, ShowingTime+ and Zillow Home Loans.