Zillow Group, Inc. (Z) Stock Rating Upgraded by Zacks Investment Research
Zillow Group, Inc. (NASDAQ:Z) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Zillow Group, Inc. offers real estate and home-related brands on mobile and web. The company’s brands focus on home lifecycle consists of renting, buying, selling, financing and home improvement. Its real estate and rental marketplaces of consumer brands includes Zillow(R), Trulia(R), StreetEasy(R) and HotPads(R). The company also works with real estate agents, lenders and rental professionals. Its business brands for real estate, rental and mortgage professionals, including Postlets(R), Mortech(R), Diverse Solutions(R), Market Leader(R) and Retsly(TM). Zillow Group, Inc. is headquartered in Seattle. “
Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and set a $48.00 price target (up from $41.00) on shares of Zillow Group in a report on Friday, May 5th. Cowen and Company set a $40.00 target price on Zillow Group and gave the stock a “market perform” rating in a report on Friday, May 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 target price (down from $42.00) on shares of Zillow Group in a report on Wednesday, February 8th. Finally, Stifel Nicolaus raised Zillow Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $43.00 in a report on Tuesday, February 14th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $40.57.
Zillow Group (NASDAQ:Z) opened at 41.53 on Wednesday. The stock’s market capitalization is $7.61 billion. The company’s 50-day moving average price is $38.14 and its 200 day moving average price is $36.45. Zillow Group has a 52-week low of $26.85 and a 52-week high of $44.49.
Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Thursday, May 4th. The financial services provider reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.10. The business had revenue of $245.78 million for the quarter. Zillow Group had a negative net margin of 26.04% and a negative return on equity of 6.95%. Equities analysts forecast that Zillow Group will post $0.47 EPS for the current fiscal year.
In related news, CEO Spencer M. Rascoff sold 29,854 shares of Zillow Group stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $43.94, for a total value of $1,311,784.76. Following the completion of the transaction, the chief executive officer now owns 120,146 shares in the company, valued at $5,279,215.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Spencer M. Rascoff sold 120,146 shares of Zillow Group stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $43.34, for a total value of $5,207,127.64. Following the completion of the transaction, the chief executive officer now owns 120,146 shares of the company’s stock, valued at approximately $5,207,127.64. The disclosure for this sale can be found here. Insiders own 26.97% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in Zillow Group by 949.0% in the first quarter. Goldman Sachs Group Inc. now owns 4,302,610 shares of the financial services provider’s stock valued at $144,869,000 after buying an additional 3,892,431 shares in the last quarter. Bank of Nova Scotia bought a new position in Zillow Group during the first quarter valued at approximately $4,242,000. Selkirk Management LLC bought a new position in Zillow Group during the first quarter valued at approximately $337,000. Janus Capital Management LLC raised its position in Zillow Group by 46.9% in the first quarter. Janus Capital Management LLC now owns 1,173,378 shares of the financial services provider’s stock valued at $39,507,000 after buying an additional 374,684 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in Zillow Group during the first quarter valued at approximately $545,000. Institutional investors own 86.31% of the company’s stock.
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