Zillow Group (NASDAQ:ZG) Raised to Outperform at Wedbush

Wedbush upgraded shares of Zillow Group (NASDAQ:ZG) from a neutral rating to an outperform rating in a report released on Monday morning, Marketbeat Ratings reports. The firm currently has $80.00 target price on the technology company’s stock, up from their prior target price of $50.00.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald started coverage on Zillow Group in a research note on Thursday, September 5th. They issued a neutral rating and a $47.00 price target for the company. Benchmark raised their price target on Zillow Group from $60.00 to $65.00 and gave the company a buy rating in a report on Thursday, August 8th. DA Davidson reiterated a buy rating and issued a $52.00 price objective on shares of Zillow Group in a report on Tuesday, June 18th. Evercore ISI increased their price target on shares of Zillow Group from $50.00 to $55.00 and gave the company an outperform rating in a report on Thursday, August 8th. Finally, Citigroup increased their price objective on Zillow Group from $58.00 to $62.00 and gave the stock a buy rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $59.82.

Zillow Group Stock Performance

Shares of NASDAQ:ZG opened at $65.79 on Monday. Zillow Group has a twelve month low of $33.23 and a twelve month high of $66.75. The firm has a market cap of $15.54 billion, a PE ratio of -95.35 and a beta of 2.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The business has a fifty day moving average of $51.15 and a 200-day moving average of $47.14.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The firm had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In related news, CAO Jennifer Rock sold 4,050 shares of Zillow Group stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares in the company, valued at approximately $3,923,335.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the transaction, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at $3,923,335.62. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Bradley D. Owens sold 752 shares of Zillow Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the completion of the transaction, the general counsel now directly owns 35,259 shares of the company’s stock, valued at $1,873,310.67. The disclosure for this sale can be found here. Insiders have sold 221,999 shares of company stock worth $11,780,363 in the last 90 days. 17.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently bought and sold shares of ZG. Vanguard Group Inc. grew its holdings in Zillow Group by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after purchasing an additional 1,730,731 shares during the last quarter. Norges Bank acquired a new stake in shares of Zillow Group during the 4th quarter worth approximately $102,096,000. Dimensional Fund Advisors LP increased its holdings in Zillow Group by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock valued at $19,901,000 after buying an additional 35,503 shares in the last quarter. UBS Group AG increased its stake in shares of Zillow Group by 73.0% in the 4th quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after purchasing an additional 177,265 shares in the last quarter. Finally, Selkirk Management LLC increased its position in shares of Zillow Group by 37.4% in the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after buying an additional 87,300 shares in the last quarter. 20.32% of the stock is owned by institutional investors.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.