Zillow Group (NASDAQ:Z) Earns Outperform Rating from Wedbush

Zillow Group (NASDAQ:Z)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report released on Monday,Benzinga reports. They currently have a $100.00 price objective on the financial services provider’s stock. Wedbush’s price objective points to a potential upside of 48.83% from the stock’s previous close.

A number of other equities analysts also recently issued reports on Z. Wells Fargo & Company upgraded Zillow Group to a “hold” rating in a report on Monday, April 28th. William Blair began coverage on shares of Zillow Group in a research note on Monday, April 21st. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zillow Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley raised their target price on shares of Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 12th. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.17.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $67.19 on Monday. The company’s 50 day moving average price is $68.15 and its 200-day moving average price is $73.42. Zillow Group has a 52-week low of $39.05 and a 52-week high of $89.39. The stock has a market capitalization of $16.30 billion, a price-to-earnings ratio of -142.96, a P/E/G ratio of 9.24 and a beta of 2.23.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. As a group, equities research analysts forecast that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Errol G. Samuelson sold 6,967 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $541,475.24. Following the sale, the insider now owns 127,467 shares in the company, valued at $9,906,735.24. This represents a 5.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jennifer Rock sold 5,796 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total transaction of $437,598.00. Following the completion of the sale, the chief accounting officer now owns 51,370 shares in the company, valued at $3,878,435. The trade was a 10.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,919 shares of company stock worth $5,744,978. Company insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds have recently added to or reduced their stakes in Z. Charles Schwab Investment Management Inc. boosted its position in Zillow Group by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,538,709 shares of the financial services provider’s stock worth $113,941,000 after acquiring an additional 11,727 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Zillow Group in the 4th quarter worth approximately $7,375,000. Vinva Investment Management Ltd acquired a new position in shares of Zillow Group during the 4th quarter worth approximately $1,187,000. Donoghue Forlines LLC purchased a new stake in shares of Zillow Group in the fourth quarter valued at approximately $1,932,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Zillow Group by 18.5% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 44,114 shares of the financial services provider’s stock valued at $3,267,000 after purchasing an additional 6,900 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.