Zillow Group (NASDAQ:ZG) Reaches New 52-Week High - Should You Buy?

Key Points

• Zillow Group's stock reached a new 52-week high of $87.75 during recent trading, indicating strong market performance.
• Equities analysts have generally optimistic views on Zillow, with target prices ranging from $85 to $95, and the majority rating it with a "Buy" or "Overweight."
• Recent insider sales totaled over $49 million, suggesting some executives are reducing their positions despite the company's stock gains.

Shares of Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $87.64 and last traded at $87.75, with a volume of 338396 shares traded. The stock had previously closed at $84.78.

Analysts Set New Price Targets

ZG has been the topic of a number of recent analyst reports. Susquehanna reiterated a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Royal Bank Of Canada increased their target price on Zillow Group from $88.00 to $95.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Barclays reiterated an "underweight" rating and issued a $66.00 target price (up previously from $60.00) on shares of Zillow Group in a research note on Thursday, August 7th. Piper Sandler increased their target price on Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, KeyCorp reiterated an "overweight" rating and issued a $92.00 target price (up previously from $90.00) on shares of Zillow Group in a research note on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $85.52.

Zillow Group Stock Down 1.6%

The stock has a market cap of $20.43 billion, a PE ratio of -324.38, a price-to-earnings-growth ratio of 8.99 and a beta of 2.02. The firm has a 50 day moving average price of $78.98 and a 200 day moving average price of $71.36.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $655.00 million for the quarter, compared to analysts' expectations of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The business's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 EPS. Equities analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Activity

In other news, CTO David A. Beitel sold 22,510 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $90.97, for a total transaction of $2,047,734.70. Following the transaction, the chief technology officer owned 144,549 shares in the company, valued at approximately $13,149,622.53. This trade represents a 13.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Dan Spaulding sold 100,000 shares of Zillow Group stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $85.91, for a total value of $8,591,000.00. Following the completion of the transaction, the insider owned 68,889 shares in the company, valued at $5,918,253.99. This trade represents a 59.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 657,087 shares of company stock valued at $56,286,479. Company insiders own 17.14% of the company's stock.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its stake in Zillow Group by 8.5% in the second quarter. Osaic Holdings Inc. now owns 3,966 shares of the technology company's stock valued at $271,000 after purchasing an additional 310 shares during the last quarter. Winslow Asset Management Inc. grew its stake in Zillow Group by 18.2% in the second quarter. Winslow Asset Management Inc. now owns 7,475 shares of the technology company's stock valued at $512,000 after purchasing an additional 1,150 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in Zillow Group in the second quarter valued at about $252,000. Headlands Technologies LLC purchased a new stake in shares of Zillow Group during the second quarter worth about $893,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Zillow Group during the second quarter worth about $263,000. Hedge funds and other institutional investors own 20.32% of the company's stock.

Zillow Group Company Profile

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.