Mizuho Downgrades Zillow Group (NASDAQ:Z) to Hold

Zillow Group (NASDAQ:Z) was downgraded by equities research analysts at Mizuho from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on Z. Oppenheimer initiated coverage on shares of Zillow Group in a research note on Monday, October 6th. They issued a “market perform” rating on the stock. Sanford C. Bernstein upgraded shares of Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Finally, Gordon Haskett raised Zillow Group to a “strong-buy” rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Zillow Group has an average rating of “Hold” and an average target price of $91.14.

Zillow Group Stock Down 1.7%

Zillow Group stock opened at $68.75 on Thursday. Zillow Group has a twelve month low of $57.51 and a twelve month high of $93.88. The company has a market capitalization of $16.64 billion, a P/E ratio of -491.04, a PEG ratio of 3.88 and a beta of 2.07. The stock’s 50 day moving average is $71.01 and its 200 day moving average is $76.29.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. The company had revenue of $729.00 million for the quarter, compared to analysts’ expectations of $670.28 million. As a group, equities analysts expect that Zillow Group will post 0.32 EPS for the current year.

Insider Activity

In other Zillow Group news, insider Errol G. Samuelson sold 7,641 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $71.13, for a total transaction of $543,504.33. Following the completion of the sale, the insider directly owned 120,815 shares in the company, valued at approximately $8,593,570.95. The trade was a 5.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 7,865 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $69.53, for a total value of $546,853.45. Following the transaction, the chief financial officer directly owned 70,811 shares in the company, valued at $4,923,488.83. The trade was a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 67,511 shares of company stock valued at $4,766,357 over the last three months. Corporate insiders own 25.03% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds have recently modified their holdings of Z. WT Wealth Management bought a new position in shares of Zillow Group in the third quarter worth about $1,458,000. Assenagon Asset Management S.A. grew its stake in shares of Zillow Group by 353.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 143,212 shares of the financial services provider’s stock valued at $11,034,000 after acquiring an additional 111,664 shares during the period. L1 Capital Pty Ltd purchased a new stake in Zillow Group in the 2nd quarter worth approximately $26,651,000. Arlington Partners LLC raised its stake in Zillow Group by 17.3% during the 2nd quarter. Arlington Partners LLC now owns 64,042 shares of the financial services provider’s stock worth $4,486,000 after acquiring an additional 9,448 shares during the period. Finally, Geode Capital Management LLC raised its stake in Zillow Group by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,142,403 shares of the financial services provider’s stock worth $219,467,000 after acquiring an additional 69,630 shares during the period. Institutional investors own 71.01% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.