Zillow Group (NASDAQ:ZG) Stock Rating Lowered by Mizuho

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

Other equities research analysts also recently issued research reports about the company. Citigroup reissued a “market outperform” rating on shares of Zillow Group in a research report on Monday, November 24th. UBS Group cut their target price on Zillow Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, October 31st. DA Davidson reissued a “buy” rating and set a $95.00 target price on shares of Zillow Group in a report on Thursday, October 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Zillow Group in a research note on Monday, October 27th. Finally, Gordon Haskett raised shares of Zillow Group from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Friday, October 3rd. Fourteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.52.

Zillow Group Stock Performance

NASDAQ:ZG opened at $67.16 on Thursday. Zillow Group has a 52 week low of $56.63 and a 52 week high of $90.22. The firm’s 50-day simple moving average is $69.52 and its 200 day simple moving average is $73.89. The firm has a market cap of $16.26 billion, a price-to-earnings ratio of -479.68, a P/E/G ratio of 3.80 and a beta of 2.03.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Thursday, October 30th. The technology company 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 return on equity of 0.56% and a negative net margin of 1.29%.The business had revenue of $676.00 million for the quarter, compared to analyst estimates of $670.28 million. During the same quarter in the previous year, the company earned $0.35 EPS. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. Sell-side analysts anticipate that Zillow Group will post 0.32 EPS for the current year.

Insider Activity

In related news, CFO Jeremy Hofmann sold 7,865 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $69.53, for a total transaction of $546,853.45. Following the completion of the transaction, the chief financial officer directly owned 70,811 shares in the company, valued at $4,923,488.83. This represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David A. Beitel sold 3,893 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $71.12, for a total transaction of $276,870.16. Following the completion of the transaction, the chief technology officer directly owned 140,656 shares of the company’s stock, valued at approximately $10,003,454.72. The trade was a 2.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 67,511 shares of company stock valued at $4,766,357. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Zillow Group in the 2nd quarter valued at $159,770,000. UBS Group AG grew its position in Zillow Group by 18.2% during the 3rd quarter. UBS Group AG now owns 704,805 shares of the technology company’s stock worth $52,466,000 after acquiring an additional 108,600 shares during the last quarter. Wellington Management Group LLP increased its holdings in Zillow Group by 60.1% in the 3rd quarter. Wellington Management Group LLP now owns 557,735 shares of the technology company’s stock worth $41,518,000 after purchasing an additional 209,312 shares in the last quarter. Virtu Financial LLC increased its holdings in Zillow Group by 271.9% in the 3rd quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock worth $21,864,000 after purchasing an additional 214,743 shares in the last quarter. Finally, Millennium Management LLC raised its position in Zillow Group by 110.8% in the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after purchasing an additional 152,955 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

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.