Zillow Group (NASDAQ:ZG) Stock Jumps 7.6% – What’s Next?

Zillow Group, Inc. (NASDAQ:ZG)’s share price was up 7.6% during mid-day trading on Thursday. The stock traded as high as $34.61 and last traded at $34.8730. Approximately 235,123 shares traded hands during trading, a decline of 80% from the average daily volume of 1,149,934 shares. The stock had previously closed at $32.41.

Analyst Ratings Changes

A number of research firms have recently weighed in on ZG. Benchmark reissued a “buy” rating on shares of Zillow Group in a research report on Monday, August 24th. Wells Fargo & Company set a $21.00 price objective on shares of Zillow Group in a research note on Monday, October 12th. JPMorgan Chase & Co. decreased their target price on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. DA Davidson lowered their target price on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft set a $80.00 target price on shares of Zillow Group in a research note on Monday, August 24th. Ten equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Zillow Group currently has a consensus rating of “Hold” and a consensus target price of $51.19.

Zillow Group Stock Performance

The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 154.78, a P/E/G ratio of 1.53 and a beta of 2.02. The firm has a fifty day moving average of $32.40 and a 200-day moving average of $35.08.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The company had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. On average, analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current year.

Insider Buying and Selling at Zillow Group

In related news, Director Claire Thielke sold 1,187 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total value of $42,387.77. Following the sale, the director directly owned 2,375 shares of the company’s stock, valued at $84,811.25. This represents a 33.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erik C. Blachford sold 792 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total transaction of $28,282.32. Following the transaction, the director owned 34,160 shares in the company, valued at $1,219,853.60. This trade represents a 2.27% 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. In the last three months, insiders have sold 38,539 shares of company stock valued at $1,323,800. Corporate insiders own 29.88% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently modified their holdings of ZG. Integrated Wealth Concepts LLC bought a new stake in shares of Zillow Group in the 2nd quarter valued at approximately $29,000. Ninety One SA Pty Ltd bought a new position in Zillow Group during the third quarter worth $26,000. EverSource Wealth Advisors LLC lifted its stake in Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after purchasing an additional 637 shares during the last quarter. Fifth Third Bancorp lifted its stake in Zillow Group by 990.3% during the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after purchasing an additional 921 shares during the last quarter. Finally, Nykredit A S bought a new position in Zillow Group during the second quarter worth $65,000. Institutional investors own 20.32% of the company’s stock.

About Zillow Group

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers, real estate professionals, and other housing industry participants. Its services are designed to help people search for homes, understand property values, connect with agents, and manage transactions throughout the residential real estate process.

The company’s portfolio includes Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+. Zillow provides home listings, estimated property values, rental information, agent connections, mortgage resources, and other housing-related tools.