Zillow Group (NASDAQ:Z) Sees Large Volume Increase

Zillow Group, Inc. (NASDAQ:ZGet Free Report) shares saw strong trading volume on Friday . 5,536,905 shares changed hands during mid-day trading, an increase of 62% from the previous session’s volume of 3,418,914 shares.The stock last traded at $51.14 and had previously closed at $55.15.

Wall Street Analysts Forecast Growth

Several analysts have commented on Z shares. Jefferies Financial Group upped their price objective on Zillow Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. lifted their price objective on shares of Zillow Group from $46.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $58.75.

Read Our Latest Research Report on Z

Zillow Group Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market cap of $11.14 billion, a price-to-earnings ratio of -70.16 and a beta of 1.77. The company’s 50 day moving average is $55.30 and its 200 day moving average is $49.28.

Zillow Group (NASDAQ:ZGet Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.06. The firm had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $450.75 million. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. Research analysts forecast that Zillow Group, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, General Counsel Bradley D. Owens sold 966 shares of Zillow Group stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the transaction, the general counsel now directly owns 17,181 shares in the company, valued at approximately $996,669.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zillow Group news, CAO Jennifer Rock sold 7,352 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $57.29, for a total value of $421,196.08. Following the transaction, the chief accounting officer now directly owns 56,384 shares in the company, valued at approximately $3,230,239.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Bradley D. Owens sold 966 shares of Zillow Group stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total transaction of $56,037.66. Following the sale, the general counsel now owns 17,181 shares of the company’s stock, valued at $996,669.81. The disclosure for this sale can be found here. In the last three months, insiders sold 167,070 shares of company stock worth $9,433,246. 15.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Several institutional investors have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC raised its stake in Zillow Group by 27.4% during the first quarter. Belpointe Asset Management LLC now owns 1,144 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 246 shares during the period. Legacy Capital Group California Inc. boosted its holdings in Zillow Group by 3.1% in the fourth quarter. Legacy Capital Group California Inc. now owns 8,794 shares of the financial services provider’s stock valued at $509,000 after acquiring an additional 264 shares during the last quarter. Jacob Asset Management of New York LLC boosted its holdings in Zillow Group by 0.5% in the second quarter. Jacob Asset Management of New York LLC now owns 53,000 shares of the financial services provider’s stock valued at $2,664,000 after acquiring an additional 281 shares during the last quarter. Level Four Advisory Services LLC grew its position in Zillow Group by 0.9% during the fourth quarter. Level Four Advisory Services LLC now owns 33,058 shares of the financial services provider’s stock valued at $1,913,000 after acquiring an additional 282 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Zillow Group by 3.2% during the third quarter. Daiwa Securities Group Inc. now owns 9,236 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 290 shares during the last quarter. 71.17% of the stock is currently owned by institutional investors and hedge funds.

About Zillow Group

(Get Free Report)

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.

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