Zillow Group (NASDAQ:ZG) Upgraded at Barclays

Barclays upgraded shares of Zillow Group (NASDAQ:ZG) from a strong sell rating to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

A number of other equities research analysts also recently weighed in on ZG. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Zillow Group in a research note on Monday, December 15th. Citigroup restated a “market outperform” rating on shares of Zillow Group in a research report on Monday, January 12th. Piper Sandler reaffirmed an “overweight” rating and set a $85.00 price objective (down from $94.00) on shares of Zillow Group in a report on Friday, October 31st. Sanford C. Bernstein reduced their target price on Zillow Group from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. Finally, Exane BNP Paribas upgraded Zillow Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.83.

Zillow Group Price Performance

Shares of ZG opened at $62.24 on Thursday. The company has a market capitalization of $15.07 billion, a price-to-earnings ratio of -444.54, a price-to-earnings-growth ratio of 3.78 and a beta of 2.03. Zillow Group has a 1 year low of $56.63 and a 1 year high of $90.22. The business has a 50-day moving average of $68.71 and a 200-day moving average of $73.44.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Zillow Group had a negative return on equity of 0.56% and a negative net margin of 1.29%.The business had revenue of $676.00 million during the quarter, compared to analysts’ expectations of $670.28 million. During the same quarter last year, the business posted $0.35 EPS. The company’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Zillow Group will post 0.32 EPS for the current year.

Insider Activity at Zillow Group

In related news, CEO Jeremy Wacksman sold 10,855 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 134,712 shares in the company, valued at $9,428,492.88. This trade represents a 7.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dan Spaulding sold 5,455 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $69.40, for a total transaction of $378,577.00. Following the transaction, the insider owned 50,342 shares in the company, valued at $3,493,734.80. This trade represents a 9.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 67,511 shares of company stock worth $4,766,357 in the last ninety days. Corporate insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC raised its stake in shares of Zillow Group by 3.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,550 shares of the technology company’s stock valued at $312,000 after acquiring an additional 131 shares in the last quarter. DoubleLine ETF Adviser LP increased its holdings in Zillow Group by 4.9% during the 3rd quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock worth $239,000 after purchasing an additional 150 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Zillow Group by 4.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock worth $256,000 after purchasing an additional 156 shares during the period. Signaturefd LLC raised its position in Zillow Group by 10.4% during the 4th quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after purchasing an additional 161 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 187 shares during the period. 20.32% of the stock is currently 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.