Zillow Group (NASDAQ:Z) Rating Increased to Strong-Buy at Zacks Research

by · The Markets Daily

Zacks Research upgraded shares of Zillow Group (NASDAQ:Z – Free Report) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Z has been the subject of a number of other reports. Wall Street Zen upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Royal Bank Of Canada cut their price target on Zillow Group from $95.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, June 10th. Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods lowered their price target on Zillow Group from $60.00 to $50.00 and set a “market perform” rating on the stock in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.00.

Read Our Latest Stock Report on Zillow Group

Zillow Group Stock Down 0.5%

Shares of NASDAQ Z opened at $32.78 on Monday. Zillow Group has a 12 month low of $29.23 and a 12 month high of $93.88. The business has a fifty day simple moving average of $35.93 and a 200-day simple moving average of $47.06. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 131.12, a P/E/G ratio of 1.41 and a beta of 1.98.

Zillow Group (NASDAQ:Z – Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. As a group, sell-side analysts expect that Zillow Group will post 0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,364 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $37.23, for a total value of $125,241.72. Following the sale, the general counsel directly owned 65,245 shares in the company, valued at approximately $2,429,071.35. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,078 shares of Zillow Group stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the transaction, the insider owned 49,696 shares in the company, valued at approximately $1,858,630.40. This represents a 5.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 42,910 shares of company stock valued at $1,605,732 in the last ninety days. 23.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in Z. Independent Franchise Partners LLP boosted its stake in Zillow Group by 0.9% in the 4th quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock worth $747,241,000 after purchasing an additional 94,569 shares during the period. Capital World Investors lifted its position in shares of Zillow Group by 1.8% in the fourth quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock valued at $738,554,000 after buying an additional 191,058 shares during the last quarter. Tiger Global Management LLC boosted its position in Zillow Group by 21.7% during the first quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock worth $304,927,000 after purchasing an additional 1,312,000 shares during the period. State Street Corp boosted its holdings in shares of Zillow Group by 3.9% during the 4th quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock worth $261,882,000 after buying an additional 143,726 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Zillow Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,363,657 shares of the financial services provider’s stock valued at $228,898,000 after purchasing an additional 55,323 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Key Headlines Impacting Zillow Group

Here are the key news stories impacting Zillow Group this week:

Zillow Group Company Profile

(Get Free Report)

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.

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