Zillow Group (NASDAQ:Z) Upgraded to “Outperform” by Wedbush

by · The Markets Daily

Wedbush upgraded shares of Zillow Group (NASDAQ:Z – Free Report) from a neutral rating to an outperform rating in a report issued on Monday, Marketbeat reports. The firm currently has $80.00 price objective on the financial services provider’s stock, up from their previous price objective of $50.00.

Z has been the subject of several other reports. UBS Group raised shares of Zillow Group to a strong-buy rating in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a hold rating on shares of Zillow Group in a research note on Thursday, August 8th. Cantor Fitzgerald raised Zillow Group to a hold rating in a research note on Thursday, September 5th. Craig Hallum raised shares of Zillow Group to a strong-buy rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Zillow Group from $55.00 to $60.00 and gave the company a buy rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $63.20.

Check Out Our Latest Analysis on Z

Zillow Group Trading Up 4.2 %

NASDAQ:Z opened at $67.84 on Monday. Zillow Group has a 52 week low of $33.80 and a 52 week high of $68.73. The firm has a 50-day moving average price of $53.13 and a two-hundred day moving average price of $48.50. The firm has a market cap of $15.70 billion, a price-to-earnings ratio of -98.32 and a beta of 1.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12.

Zillow Group (NASDAQ:Z – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.13. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The business had revenue of $572.00 million for the quarter, compared to the consensus estimate of $539.74 million. On average, equities analysts expect that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the sale, the director now directly owns 5,652 shares in the company, valued at approximately $379,983.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Thielke Claire Cormier sold 2,826 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.11, for a total transaction of $172,696.86. Following the sale, the director now directly owns 2,826 shares of the company’s stock, valued at $172,696.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,999 shares of company stock valued at $11,780,363. Insiders own 23.76% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in Zillow Group during the fourth quarter valued at approximately $34,718,000. True Vision MN LLC purchased a new stake in shares of Zillow Group in the 4th quarter worth $442,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Zillow Group by 30.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 669,892 shares of the financial services provider’s stock worth $32,677,000 after purchasing an additional 156,249 shares during the period. Allianz Asset Management GmbH lifted its position in Zillow Group by 100.7% during the fourth quarter. Allianz Asset Management GmbH now owns 37,248 shares of the financial services provider’s stock valued at $2,155,000 after purchasing an additional 18,686 shares in the last quarter. Finally, CenterBook Partners LP bought a new stake in Zillow Group during the fourth quarter valued at about $1,181,000. 71.01% of the stock is owned by institutional investors.

Zillow Group Company Profile

(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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