Zillow Group (NASDAQ:ZG) Upgraded by Barclays to Hold Rating

Barclays upgraded shares of Zillow Group (NASDAQ:ZG) from a strong sell rating to a hold rating in a report released on Thursday,Zacks.com reports.

Several other research analysts have also weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $85.00 target price (down from $94.00) on shares of Zillow Group in a research report on Friday, October 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Zillow Group in a report on Monday, December 15th. Exane BNP Paribas raised Zillow Group to a “strong-buy” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. boosted their target price on Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Susquehanna lowered their target price on Zillow Group from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.92.

Zillow Group Price Performance

ZG opened at $65.21 on Thursday. The business has a 50 day simple moving average of $68.87 and a 200-day simple moving average of $73.54. The stock has a market capitalization of $15.78 billion, a P/E ratio of -465.75, a P/E/G ratio of 3.77 and a beta of 2.03. Zillow Group has a 12 month low of $56.63 and a 12 month high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Thursday, October 30th. The technology company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). Zillow Group had a negative return on equity of 0.56% and a negative net margin of 1.29%.The company had revenue of $676.00 million for the quarter, compared to analysts’ expectations of $670.28 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Zillow Group’s revenue for the quarter was up 16.4% on a year-over-year basis. Research analysts anticipate that Zillow Group will post 0.32 EPS for the current year.

Insider Activity at Zillow Group

In related news, CFO Jeremy Hofmann sold 7,865 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.53, for a total value of $546,853.45. Following the completion of the transaction, the chief financial officer owned 70,811 shares in the company, valued at $4,923,488.83. This represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeremy Wacksman sold 10,855 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $69.99, for a total transaction of $759,741.45. Following the completion of the transaction, the chief executive officer owned 134,712 shares of the company’s stock, valued at $9,428,492.88. This trade represents a 7.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 67,511 shares of company stock valued at $4,766,357. Company insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Zillow Group in the second quarter valued at $159,770,000. MFG Wealth Management Inc. acquired a new position in shares of Zillow Group in the 3rd quarter worth $1,493,000. ABC Arbitrage SA raised its position in shares of Zillow Group by 390.1% during the second quarter. ABC Arbitrage SA now owns 31,227 shares of the technology company’s stock worth $2,139,000 after purchasing an additional 24,856 shares during the period. TD Asset Management Inc purchased a new stake in shares of Zillow Group during the second quarter valued at $262,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Zillow Group during the third quarter valued at $930,000. 20.32% of the stock is owned by institutional investors and hedge funds.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.