Zillow Group (NASDAQ:ZG) Rating Increased to Outperform at Wedbush

Zillow Group (NASDAQ:ZG) was upgraded by equities researchers at Wedbush from a “neutral” rating to an “outperform” rating in a report issued on Monday, MarketBeat reports. The firm presently has a $80.00 target price on the technology company’s stock, up from their previous target price of $50.00. Wedbush’s target price would suggest a potential upside of 38.31% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Benchmark raised their target price on Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. UBS Group lifted their price objective on Zillow Group from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Citigroup upped their target price on Zillow Group from $58.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada lifted their price target on shares of Zillow Group from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Cantor Fitzgerald began coverage on shares of Zillow Group in a report on Thursday, September 5th. They issued a “neutral” rating and a $47.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.82.

Zillow Group Stock Performance

NASDAQ ZG opened at $57.84 on Monday. The company has a 50-day simple moving average of $50.21 and a two-hundred day simple moving average of $46.94. Zillow Group has a 12-month low of $33.23 and a 12-month high of $59.23. The firm has a market cap of $13.39 billion, a price-to-earnings ratio of -83.83 and a beta of 2.00. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

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

Insider Buying and Selling

In other news, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now owns 79,694 shares in the company, valued at $3,923,335.62. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Susan Daimler sold 3,484 shares of Zillow Group stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the sale, the insider now directly owns 22,464 shares in the company, valued at approximately $1,217,099.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer Rock sold 4,050 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value 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 approximately $3,923,335.62. The disclosure for this sale can be found here. Insiders have sold a total of 198,548 shares of company stock worth $10,221,048 in the last quarter. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

A number of large investors have recently made changes to their positions in ZG. Shannon River Fund Management LLC bought a new position in Zillow Group during the fourth quarter valued at approximately $4,384,000. GSA Capital Partners LLP raised its stake in Zillow Group by 47.8% during the 4th quarter. GSA Capital Partners LLP now owns 78,301 shares of the technology company’s stock valued at $4,441,000 after buying an additional 25,333 shares during the last quarter. Norges Bank purchased a new stake in Zillow Group during the 4th quarter valued at $102,096,000. Edgestream Partners L.P. lifted its holdings in shares of Zillow Group by 140.6% during the 1st quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock valued at $992,000 after buying an additional 12,116 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Zillow Group by 42.6% in the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after buying an additional 73,504 shares during the last quarter. 20.32% of the stock is currently 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.