Zillow Group (NASDAQ:Z) Upgraded to “Outperform” at Wedbush

Zillow Group (NASDAQ:Z) was upgraded by Wedbush from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a $80.00 price target on the financial services provider’s stock, up from their previous price target of $50.00. Wedbush’s target price points to a potential upside of 28.78% from the stock’s current price.

Other analysts also recently issued research reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Thursday, August 8th. UBS Group upgraded Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Craig Hallum upgraded Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their target price on Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald upgraded Zillow Group to a “hold” rating in a report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $63.20.

Zillow Group Price Performance

NASDAQ Z traded up $2.38 during trading hours on Monday, reaching $62.12. 2,502,813 shares of the company’s stock were exchanged, compared to its average volume of 3,837,954. The stock has a market cap of $14.38 billion, a PE ratio of -89.88 and a beta of 1.94. Zillow Group has a one year low of $33.80 and a one year high of $62.71. The firm has a fifty day moving average of $51.80 and a 200-day moving average of $48.16. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. The firm had revenue of $572.00 million for the quarter, compared to analyst estimates of $539.74 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. On average, equities research analysts predict that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Bradley D. Owens sold 752 shares of Zillow Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total value of $39,953.76. Following the completion of the sale, the general counsel now directly owns 35,259 shares in the company, valued at $1,873,310.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Zillow Group news, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 79,694 shares in the company, valued at $3,923,335.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Bradley D. Owens sold 752 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total value of $39,953.76. Following the sale, the general counsel now 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 sold 198,548 shares of company stock worth $10,221,048 over the last three months. Insiders own 23.76% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in shares of Zillow Group during the second quarter worth $319,000. Coronation Fund Managers Ltd. increased its holdings in shares of Zillow Group by 7.2% during the second quarter. Coronation Fund Managers Ltd. now owns 273,408 shares of the financial services provider’s stock worth $12,683,000 after buying an additional 18,250 shares in the last quarter. Garde Capital Inc. increased its holdings in shares of Zillow Group by 60.0% during the second quarter. Garde Capital Inc. now owns 310,247 shares of the financial services provider’s stock worth $14,392,000 after buying an additional 116,340 shares in the last quarter. Quarry LP acquired a new stake in Zillow Group in the second quarter valued at $61,000. Finally, Creative Planning increased its holdings in Zillow Group by 29.4% in the second quarter. Creative Planning now owns 18,581 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 4,217 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Zillow Group Company Profile

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.