Zillow Group (NASDAQ:Z) Reaches New 12-Month High - Should You Buy?

Zillow Group, Inc. (NASDAQ:Z) has made headlines after its stock price reached a new 52-week high during trading on Friday. The stock peaked at $86.88 before settling at $84.86, with a trading volume of 969,397 shares. Previously, the stock closed at $85.45.

Analyst Ratings

Several research analysts have recently commented on Zillow Group's stock. Morgan Stanley raised their price target from $46.00 to $60.00, maintaining an 'equal weight' rating as of October 2nd. Craig Hallum upgraded the stock to a 'strong buy' on August 8th. Furthermore, Wedbush elevated their rating from 'neutral' to 'outperform' and increased their price target from $50.00 to $80.00 on September 16th. Deutsche Bank also raised their price objective from $55.00 to $60.00 while assigning a 'buy' rating on August 9th. Needham & Company continued to keep a 'hold' rating as of November 7th. Overall, four analysts rate the stock as a hold, four as a buy, and two as a strong buy according to MarketBeat, which suggests a consensus rating of 'Moderate Buy' with an average target price of $70.33.

Stock Performance Overview

The stock's 50-day moving average stands at $67.44, while its 200-day moving average is $55.51. Zillow Group has a debt-to-equity ratio of 0.11, a current ratio of 3.13, and a quick ratio also of 3.13. The company has a market capitalization of $19.78 billion, a price-to-earnings ratio of -149.91, and a beta of 1.95, indicating somewhat higher volatility compared to the market.

Recent Insider Transactions

In recent insider trading activities, CFO Jeremy Hofmann sold 7,175 shares on November 27th at an average price of $85.36, totaling approximately $612,458. Following this transaction, he now holds 99,362 shares valued at about $8.48 million, a decrease of 6.73% in ownership. Additionally, Director Amy Bohutinsky sold 20,625 shares on September 18th at an average price of $67.23, amounting to around $1.39 million. This move reduced her ownership by 78.49%, leaving her with 5,652 shares valued at approximately $379,983. Over the last quarter, insiders sold a total of 160,439 shares worth $11.58 million, with insiders currently holding 23.76% of the total shares.

Institutional Investments

Several hedge funds have recently shifted their positions regarding Zillow Group. Synovus Financial Corp acquired a new stake worth about $311,000 in the third quarter. Similarly, Chiron Investment Management bought a position valued at $1.29 million, while Synergy Financial Group purchased shares worth about $223,000. Groupama Asset Management notably bought a substantial position valued at roughly $83 million. Nomura Asset Management Co. Ltd. increased its stake by 15.1% in the same quarter. Institutional investors collectively now hold approximately 71.01% of Zillow Group's stock.

About Zillow Group

Zillow Group, Inc operates various real estate brands through mobile apps and websites across the United States. The company offers multiple services, including marketplaces for premier agents and rentals, new constructions, advertising solutions, and technology services, along with mortgage origination and sales, as well as title and escrow services.

Investment Considerations

Before considering an investment in Zillow Group, interested investors might want to note that while Zillow currently has a 'Moderate Buy' rating, several top analysts are recommending alternative stocks as potentially more promising investments. Keeping abreast of market updates and analyst recommendations could aid in making informed investment decisions.

Zillow, Stock, Investment