Zillow Group (NASDAQ:Z) Rating Increased to Hold at Barclays

Zillow Group (NASDAQ:Z) was upgraded by Barclays from a “strong sell” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages have also recently issued reports on Z. Oppenheimer initiated coverage on shares of Zillow Group in a research note on Monday, October 6th. They set a “market perform” rating on the stock. Exane BNP Paribas raised shares of Zillow Group to a “strong-buy” rating in a research note on Wednesday, January 14th. BNP Paribas Exane raised shares of Zillow Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Mizuho lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Four research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.83.

Zillow Group Stock Performance

NASDAQ:Z opened at $66.16 on Thursday. The company has a fifty day moving average of $70.00 and a two-hundred day moving average of $75.82. Zillow Group has a fifty-two week low of $57.51 and a fifty-two week high of $93.88. The stock has a market capitalization of $16.01 billion, a PE ratio of -472.54, a P/E/G ratio of 3.83 and a beta of 2.07.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $729.00 million for the quarter, compared to analyst estimates of $670.28 million. Research analysts forecast that Zillow Group will post 0.32 earnings per share for the current year.

Insider Activity at Zillow Group

In related news, General Counsel Bradley D. Owens sold 2,722 shares of the stock in a transaction dated Wednesday, November 19th. The shares were 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 of the company’s stock, valued at approximately $2,559,827.34. This represents a 6.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeremy Wacksman sold 10,855 shares of Zillow Group stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $69.99, for a total transaction of $759,741.45. Following the transaction, the chief executive officer 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 67,511 shares of company stock valued at $4,766,357 in the last 90 days. 25.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in shares of Zillow Group by 4.7% in the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after buying an additional 171 shares during the last quarter. Intech Investment Management LLC increased its stake in Zillow Group by 21.7% in the first quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock valued at $1,407,000 after purchasing an additional 3,653 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Zillow Group by 25.1% during the second quarter. Farther Finance Advisors LLC now owns 792 shares of the financial services provider’s stock worth $55,000 after buying an additional 159 shares during the period. GAMMA Investing LLC grew its holdings in Zillow Group by 46.0% in the 2nd quarter. GAMMA Investing LLC now owns 886 shares of the financial services provider’s stock valued at $62,000 after buying an additional 279 shares during the period. Finally, Truist Financial Corp increased its stake in shares of Zillow Group by 133.7% during the 2nd quarter. Truist Financial Corp now owns 7,816 shares of the financial services provider’s stock valued at $548,000 after acquiring an additional 4,471 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

About Zillow Group

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.