Zillow Group (NASDAQ:Z) Sets New 12-Month High - Here's What Happened

Key Points

• Zillow Group recently reached a new 52-week high, trading at $91.19, with analysts providing a consensus rating of "Moderate Buy" and an average price target of $88.29.
• The company has seen insider selling, with CEO Jeremy Wacksman selling over 11,000 shares, representing a 6.86% decrease in his holdings.
• Institutional investors are actively buying and selling Zillow stock, with 71.01% of shares owned by hedge funds and other institutional investors.

Shares of Zillow Group, Inc. (NASDAQ:Z - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $91.09 and last traded at $91.19, with a volume of 1243052 shares. The stock had previously closed at $87.89.

Analysts Set New Price Targets

Z has been the subject of a number of research reports. Bank of America lifted their target price on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.29.

Zillow Group Price Performance

The company has a market capitalization of $21.27 billion, a price-to-earnings ratio of -337.62, a P/E/G ratio of 9.36 and a beta of 2.04. The stock has a fifty day simple moving average of $82.05 and a 200-day simple moving average of $73.30.

Insider Buying and Selling

In other Zillow Group news, Chairman Richard N. Barton sold 200,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $84.92, for a total value of $16,984,000.00. Following the completion of the transaction, the chairman directly owned 843,248 shares of the company's stock, valued at approximately $71,608,620.16. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO David A. Beitel sold 22,510 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $90.97, for a total value of $2,047,734.70. Following the completion of the transaction, the chief technology officer directly owned 144,549 shares of the company's stock, valued at $13,149,622.53. The trade was a 13.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 657,087 shares of company stock valued at $56,286,479 in the last three months. 25.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of Z. IFP Advisors Inc lifted its holdings in Zillow Group by 288.9% in the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 338 shares during the period. TD Private Client Wealth LLC increased its position in shares of Zillow Group by 352.0% in the second quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider's stock valued at $32,000 after buying an additional 352 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Zillow Group by 58.2% in the second quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider's stock valued at $35,000 after buying an additional 185 shares in the last quarter. National Pension Service increased its position in shares of Zillow Group by 74.8% in the first quarter. National Pension Service now owns 577 shares of the financial services provider's stock valued at $40,000 after buying an additional 247 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Zillow Group by 47.7% in the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after buying an additional 196 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

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.