Zacks Investment Research Upgrades Zillow Group, Inc. (Z) to Hold
Zillow Group, Inc. (NASDAQ:Z) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, May 17th.
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. “
Z has been the topic of a number of other research reports. Cowen and Company set a $40.00 target price on Zillow Group and gave the company a “market perform” rating in a research report on Friday, May 5th. Needham & Company LLC restated a “buy” rating and set a $48.00 price target (up previously from $41.00) on shares of Zillow Group in a report on Friday, May 5th. Stifel Nicolaus upgraded Zillow Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $36.00 to $43.00 in a report on Tuesday, February 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective (down from $42.00) on shares of Zillow Group in a research report on Wednesday, February 8th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $40.57.
Shares of Zillow Group (NASDAQ:Z) traded up 0.25% during mid-day trading on Wednesday, hitting $43.34. 1,142,059 shares of the stock traded hands. Zillow Group has a 1-year low of $27.76 and a 1-year high of $44.49. The company’s market capitalization is $7.94 billion. The company’s 50-day moving average price is $39.66 and its 200 day moving average price is $36.81.
Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Thursday, May 4th. The financial services provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.10. The company 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 research analysts forecast that Zillow Group will post $0.47 EPS for the current fiscal year.
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In related news, CEO Spencer M. Rascoff sold 120,146 shares of the firm’s stock in a transaction that occurred on 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 directly owns 120,146 shares of the company’s stock, valued at approximately $5,207,127.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Spencer M. Rascoff sold 29,854 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were 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 directly owns 120,146 shares of the company’s stock, valued at $5,279,215.24. The disclosure for this sale can be found here. Corporate insiders own 26.97% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in shares of 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 worth $144,869,000 after buying an additional 3,892,431 shares during the period. Bank of Nova Scotia acquired a new stake in Zillow Group during the first quarter valued at about $4,242,000. Selkirk Management LLC acquired a new stake in Zillow Group during the first quarter valued at about $337,000. Janus Capital Management LLC boosted its stake 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 during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in Zillow Group during the first quarter valued at about $545,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.
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