Zillow Group (NASDAQ:Z) Upgraded by Wedbush to “Outperform”

Wedbush upgraded shares of Zillow Group (NASDAQ:Z) from a neutral rating to an outperform rating in a research report sent to investors on Monday, Benzinga reports. They currently have $80.00 price target on the financial services provider’s stock, up from their previous price target of $50.00.

Several other brokerages have also recently weighed in on Z. Cantor Fitzgerald upgraded Zillow Group to a hold rating in a report on Thursday, September 5th. Craig Hallum upgraded Zillow Group to a strong-buy rating in a report on Thursday, August 8th. Needham & Company LLC reiterated a hold rating on shares of Zillow Group in a report on Thursday, August 8th. UBS Group raised Zillow Group to a strong-buy rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Zillow Group from $55.00 to $60.00 and gave the stock a buy rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Zillow Group currently has a consensus rating of Moderate Buy and a consensus target price of $63.20.

Zillow Group Stock Up 4.8 %

Z stock opened at $62.59 on Monday. The stock’s fifty day simple moving average is $51.80 and its two-hundred day simple moving average is $48.16. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group has a 1-year low of $33.80 and a 1-year high of $63.05. The stock has a market cap of $14.49 billion, a P/E ratio of -90.71 and a beta of 1.94.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The business had revenue of $572.00 million for the quarter, compared to analyst estimates of $539.74 million. Analysts expect that Zillow Group will post -0.33 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other news, insider Susan Daimler sold 3,484 shares of Zillow Group stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total value of $188,763.12. Following the sale, the insider now directly owns 22,464 shares of the company’s stock, valued at $1,217,099.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zillow Group news, CFO Jeremy Hofmann sold 7,155 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $56.89, for a total transaction of $407,047.95. Following the completion of the transaction, the chief financial officer now owns 111,239 shares in the company, valued at $6,328,386.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Susan Daimler sold 3,484 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total value of $188,763.12. Following the completion of the sale, the insider now owns 22,464 shares in the company, valued at $1,217,099.52. The disclosure for this sale can be found here. Insiders have sold a total of 198,548 shares of company stock valued at $10,221,048 over the last ninety days. 23.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Accretive Wealth Partners LLC grew its stake in Zillow Group by 4.3% in the fourth quarter. Accretive Wealth Partners LLC now owns 14,977 shares of the financial services provider’s stock worth $867,000 after purchasing an additional 616 shares in the last quarter. Principal Securities Inc. bought a new stake in Zillow Group during the 4th quarter valued at $53,000. Vanguard Personalized Indexing Management LLC boosted its position in Zillow Group by 3.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 18,527 shares of the financial services provider’s stock valued at $1,072,000 after acquiring an additional 604 shares in the last quarter. Norges Bank bought a new stake in Zillow Group during the 4th quarter valued at $34,718,000. Finally, Gladstone Institutional Advisory LLC bought a new stake in Zillow Group during the 4th quarter valued at $213,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.