Zillow Group (NASDAQ:ZG) Coverage Initiated at BNP Paribas Exane

Stock analysts at BNP Paribas Exane started coverage on shares of Zillow Group (NASDAQ:ZG) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $85.00 price target on the technology company’s stock. BNP Paribas Exane’s price objective suggests a potential upside of 26.54% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Benchmark restated a “buy” rating on shares of Zillow Group in a research note on Tuesday, December 16th. JPMorgan Chase & Co. raised their price target on shares of Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. DA Davidson reaffirmed a “buy” rating and set a $95.00 price objective on shares of Zillow Group in a research report on Thursday, October 2nd. Citigroup reiterated a “market outperform” rating on shares of Zillow Group in a research note on Monday. Finally, Oppenheimer started coverage on Zillow Group in a research note on Monday, October 6th. They set a “market perform” rating on the stock. Seventeen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.08.

Zillow Group Stock Performance

Shares of NASDAQ:ZG opened at $67.17 on Wednesday. The stock’s 50-day moving average is $69.28 and its 200-day moving average is $73.88. The company has a market cap of $16.26 billion, a P/E ratio of -479.75, a P/E/G ratio of 3.70 and a beta of 2.03. Zillow Group has a 52-week low of $56.63 and a 52-week high of $90.22.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Thursday, October 30th. The technology company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). The business had revenue of $676.00 million for the quarter, compared to the consensus estimate of $670.28 million. Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. Zillow Group’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. As a group, equities analysts predict that Zillow Group will post 0.32 EPS for the current year.

Insider Activity at Zillow Group

In other news, General Counsel Bradley D. Owens sold 2,722 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $67.41, for a total value of $183,490.02. Following the sale, the general counsel directly owned 37,974 shares in the company, valued at approximately $2,559,827.34. This represents a 6.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeremy Wacksman sold 10,855 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $69.99, for a total value of $759,741.45. Following the completion of the transaction, the chief executive officer directly owned 134,712 shares of the company’s stock, valued at approximately $9,428,492.88. The trade was a 7.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 67,511 shares of company stock valued at $4,766,357. Corporate insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Zillow Group by 7.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,915 shares of the technology company’s stock worth $258,000 after purchasing an additional 258 shares during the last quarter. GAMMA Investing LLC boosted its position in Zillow Group by 22.5% in the fourth quarter. GAMMA Investing LLC now owns 2,264 shares of the technology company’s stock valued at $154,000 after buying an additional 416 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Zillow Group by 14.1% during the third quarter. JPMorgan Chase & Co. now owns 24,057 shares of the technology company’s stock worth $1,791,000 after buying an additional 2,964 shares during the last quarter. Garde Capital Inc. increased its holdings in shares of Zillow Group by 0.4% during the third quarter. Garde Capital Inc. now owns 107,816 shares of the technology company’s stock worth $8,026,000 after buying an additional 400 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Zillow Group in the third quarter valued at approximately $980,000. 20.32% of the stock is owned by institutional investors.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.