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

Shares of Zillow Group, Inc. (NASDAQ:Z) have been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $66.75.

Several analysts have issued reports on Z shares. JPMorgan Chase & Co. cut their price objective on Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Zillow Group in a research report on Wednesday, August 19th. Sanford C. Bernstein downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Wall Street Zen lowered Zillow Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th.

Zillow Group Stock Performance

Z opened at $35.43 on Friday. The company has a 50-day moving average of $33.33 and a 200-day moving average of $38.57. The company has a market capitalization of $7.97 billion, a P/E ratio of 161.05, a PEG ratio of 1.52 and a beta of 1.98. Zillow Group has a 1-year low of $29.23 and a 1-year high of $93.88.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. The business had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. As a group, sell-side analysts expect that Zillow Group will post 0.89 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In related news, CAO Jennifer Rock sold 990 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $33,897.60. Following the completion of the sale, the chief accounting officer owned 58,752 shares of the company’s stock, valued at $2,011,668.48. This represents a 1.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,661 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $193,492.98. Following the sale, the chief financial officer owned 59,144 shares in the company, valued at approximately $2,021,541.92. This trade represents a 8.74% decrease in their position. 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 37,351 shares of company stock valued at $1,280,657 in the last ninety days. 25.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Independent Franchise Partners LLP grew its holdings in shares of Zillow Group by 0.9% during the fourth quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock valued at $747,241,000 after purchasing an additional 94,569 shares during the last quarter. Capital World Investors raised its position in shares of Zillow Group by 1.8% during the 4th quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock worth $738,554,000 after purchasing an additional 191,058 shares during the period. Tiger Global Management LLC lifted its holdings in shares of Zillow Group by 21.7% in the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock worth $304,927,000 after purchasing an additional 1,312,000 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Zillow Group by 1,877.4% in the 2nd quarter. California State Teachers Retirement System now owns 5,533,431 shares of the financial services provider’s stock worth $175,553,000 after purchasing an additional 5,253,603 shares during the last quarter. Finally, State Street Corp boosted its position in Zillow Group by 3.9% during the 4th quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock valued at $261,882,000 after purchasing an additional 143,726 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.