Zillow Group, Inc. (NASDAQ:Z) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Zillow Group, Inc. (NASDAQ:Z) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $76.00.

Several brokerages have recently issued reports on Z. Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Zacks Research downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. reduced their price objective on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. UBS Group reduced their price objective on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price objective 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.

Insider Activity

In related news, CEO Jeremy Wacksman sold 9,072 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $36.54, for a total transaction of $331,490.88. Following the transaction, the chief executive officer directly owned 153,699 shares in the company, valued at approximately $5,616,161.46. This represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Bradley D. Owens sold 3,364 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $37.23, for a total value of $125,241.72. Following the transaction, the general counsel owned 65,245 shares in the company, valued at $2,429,071.35. This trade represents a 4.90% 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 sold a total of 42,910 shares of company stock valued at $1,605,732 in the last three months. Company insiders own 25.03% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several large investors have recently added to or reduced their stakes in Z. M&T Bank Corp purchased a new position in Zillow Group during the fourth quarter worth about $196,677,000. Scge Management L.P. purchased a new position in Zillow Group during the third quarter worth about $133,990,000. L1 Capital Pty Ltd lifted its position in Zillow Group by 24,803.7% during the fourth quarter. L1 Capital Pty Ltd now owns 1,729,313 shares of the financial services provider’s stock worth $117,974,000 after buying an additional 1,722,369 shares during the period. Tiger Global Management LLC lifted 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 buying an additional 1,312,000 shares during the period. Finally, Soma Equity Partners LP lifted its position in Zillow Group by 389.5% during the third quarter. Soma Equity Partners LP now owns 1,468,492 shares of the financial services provider’s stock worth $113,147,000 after buying an additional 1,168,492 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Stock Down 2.0%

Shares of NASDAQ:Z opened at $32.03 on Friday. Zillow Group has a 52-week low of $31.49 and a 52-week high of $93.88. The stock’s fifty day simple moving average is $39.70 and its 200-day simple moving average is $52.17. The company has a market capitalization of $7.33 billion, a P/E ratio of 128.12, a P/E/G ratio of 1.37 and a beta of 1.97.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. On average, sell-side analysts anticipate that Zillow Group will post 0.9 earnings per share for the current year.

Zillow Group Company Profile

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.