Zacks Investment Research downgraded shares of Zillow Group Inc. (NASDAQ:ZG) from a buy rating to a hold rating in a report released on Wednesday.

According to Zacks, “Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company’s business brands includes ActiveRain(R), Diverse Solutions(R), Market Leader(R), Mortech(R), Postlets(R) and Retsly(TM). Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle. “

Other equities research analysts have also issued reports about the stock. RBC Capital Markets reissued a buy rating and set a $42.00 price objective (up from $36.00) on shares of Zillow Group in a report on Tuesday, August 2nd. Benchmark Co. boosted their price objective on shares of Zillow Group from $34.00 to $43.00 and gave the company a buy rating in a report on Friday, August 5th. Mizuho boosted their price objective on shares of Zillow Group from $32.00 to $35.00 and gave the company a neutral rating in a report on Friday, August 5th. Royal Bank Of Canada boosted their price objective on shares of Zillow Group from $36.00 to $42.00 and gave the company an outperform rating in a report on Friday, August 5th. Finally, Canaccord Genuity boosted their target price on shares of Zillow Group from $40.00 to $42.00 and gave the company a buy rating in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $36.38.

Zillow Group (NASDAQ:ZG) traded down 3.71% during midday trading on Wednesday, hitting $31.40. The stock had a trading volume of 111,034 shares. The firm has a 50-day moving average of $34.11 and a 200 day moving average of $31.99. The firm’s market capitalization is $5.63 billion. Zillow Group has a 52-week low of $16.45 and a 52-week high of $39.99.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.68. The business had revenue of $208.40 million for the quarter, compared to analysts’ expectations of $205.90 million. Zillow Group had a negative net margin of 34.51% and a negative return on equity of 9.25%. Zillow Group’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, equities analysts forecast that Zillow Group will post ($0.56) EPS for the current year.

Several large investors have recently made changes to their positions in the stock. Caledonia Private Investments Pty Ltd raised its stake in shares of Zillow Group by 5.1% in the second quarter. Caledonia Private Investments Pty Ltd now owns 13,671,379 shares of the company’s stock worth $501,056,000 after buying an additional 668,220 shares during the last quarter. Wellington Management Group LLP bought a new position in Zillow Group during the first quarter worth approximately $135,750,000. Vanguard Group Inc. increased its position in Zillow Group by 2.2% in the second quarter. Vanguard Group Inc. now owns 3,621,628 shares of the company’s stock worth $132,733,000 after buying an additional 76,699 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Zillow Group by 5.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,101,230 shares of the company’s stock worth $40,360,000 after buying an additional 60,290 shares during the period. Finally, Janus Capital Management LLC increased its position in Zillow Group by 1.7% in the second quarter. Janus Capital Management LLC now owns 1,043,903 shares of the company’s stock worth $38,259,000 after buying an additional 17,778 shares during the period. Institutional investors and hedge funds own 29.86% of the company’s stock.

5 Day Chart for NASDAQ:ZG

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