Zillow Group, Inc. (NASDAQ:Z) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Zillow Group, Inc. (NASDAQ:Z) have been assigned an average recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $57.71.

A number of brokerages have issued reports on Z. JPMorgan Chase & Co. cut their target price on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Sanford C. Bernstein lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Zacks Research lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Morgan Stanley dropped their price target on Zillow Group from $60.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 13th. Finally, Weiss Ratings downgraded Zillow Group from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday.

Insider Activity

In other Zillow Group news, insider Dan Spaulding sold 3,169 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the sale, the insider directly owned 44,561 shares of the company’s stock, valued at $1,576,122.57. This trade represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Beitel sold 1,798 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $61,563.52. Following the completion of the sale, the chief technology officer directly owned 133,013 shares in the company, valued at $4,554,365.12. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 37,352 shares of company stock worth $1,284,523 over the last 90 days. Insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in shares of Zillow Group by 106.8% during the first quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider’s stock worth $1,718,000 after buying an additional 21,439 shares during the period. Tiger Global Management LLC increased its position in 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 valued at $304,927,000 after acquiring an additional 1,312,000 shares during the period. Emmett Investment Management LP increased its position in Zillow Group by 353.9% in the 1st quarter. Emmett Investment Management LP now owns 96,236 shares of the financial services provider’s stock valued at $3,897,000 after acquiring an additional 75,036 shares during the period. Weiss Asset Management LP bought a new stake in Zillow Group during the 1st quarter valued at $1,743,000. Finally, Coronation Fund Managers Ltd. raised its stake in Zillow Group by 130.6% during the 1st quarter. Coronation Fund Managers Ltd. now owns 349,503 shares of the financial services provider’s stock valued at $14,462,000 after acquiring an additional 197,948 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Zillow Group Stock Performance

Zillow Group stock opened at $28.98 on Wednesday. The firm’s 50-day moving average is $30.59 and its 200-day moving average is $37.89. Zillow Group has a 1 year low of $26.67 and a 1 year high of $77.07. The company has a market cap of $6.52 billion, a P/E ratio of -55.73, a PEG ratio of 2.03 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). Zillow Group had a negative net margin of 3.95% and a positive return on equity of 3.23%. The business had revenue of $724.00 million during the quarter, compared to analyst estimates of $753.54 million. As a group, sell-side analysts predict that Zillow Group will post 0.91 earnings per share for the current year.

Zillow Group Company Profile

Zillow Group, Inc. operates a collection of digital real estate brands, including Zillow, Trulia, StreetEasy and HotPads. Its platforms help consumers search for homes to buy or rent, explore neighborhoods and connect with real estate professionals. The company also offers services and tools for real estate agents, landlords and other industry participants, along with mortgage and home transaction services. Zillow’s Zestimate provides an estimate of a home’s value, while its rental products support apartment and home searches and connections between renters and property managers.