Zillow Group (NASDAQ:Z) Upgraded by BNP Paribas to “Strong-Buy” Rating

Zillow Group (NASDAQ:Z) was upgraded by BNP Paribas to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Zillow Group from $85.00 to $80.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Sanford C. Bernstein upgraded Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a research report on Wednesday, September 17th. Mizuho cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Oppenheimer initiated coverage on Zillow Group in a research note on Monday, October 6th. They set a “market perform” rating on the stock. Finally, Gordon Haskett raised Zillow Group to a “strong-buy” rating in a research note on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.83.

Zillow Group Price Performance

Shares of Z opened at $67.89 on Wednesday. Zillow Group has a 12 month low of $57.51 and a 12 month high of $93.88. The stock has a fifty day moving average price of $70.60 and a 200 day moving average price of $76.26. The company has a market cap of $16.43 billion, a P/E ratio of -484.92, a PEG ratio of 3.74 and a beta of 2.07.

Zillow Group (NASDAQ:Z) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $670.28 million. As a group, research analysts anticipate that Zillow Group will post 0.32 earnings per share for the current year.

Insider Transactions at Zillow Group

In other news, CFO Jeremy Hofmann sold 7,865 shares of Zillow Group stock in a transaction that occurred 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 owned 70,811 shares of the company’s stock, valued at $4,923,488.83. The trade was a 10.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Bradley D. Owens sold 2,722 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $67.41, for a total transaction of $183,490.02. Following the completion of the sale, the general counsel owned 37,974 shares in the company, valued at $2,559,827.34. The trade was a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 67,511 shares of company stock valued at $4,766,357 in the last quarter. 25.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently modified their holdings of the stock. Empowered Funds LLC lifted its holdings in shares of Zillow Group by 4.7% during the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 171 shares during the last quarter. Intech Investment Management LLC raised its holdings in Zillow Group by 21.7% during the 1st quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock worth $1,407,000 after buying an additional 3,653 shares during the period. Strs Ohio purchased a new stake in Zillow Group during the first quarter valued at about $828,000. Wedmont Private Capital boosted its holdings in shares of Zillow Group by 19.4% in the second quarter. Wedmont Private Capital now owns 3,993 shares of the financial services provider’s stock worth $302,000 after buying an additional 648 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Zillow Group by 25.1% in the second quarter. Farther Finance Advisors LLC now owns 792 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 159 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Zillow Group

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.