Zillow Group (NASDAQ:Z) Upgraded at Wedbush

Wedbush upgraded shares of Zillow Group (NASDAQ:Z) from a neutral rating to an outperform rating in a report issued on Monday morning, Marketbeat.com reports. Wedbush currently has $80.00 price objective on the financial services provider’s stock, up from their prior price objective of $50.00.

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

Zillow Group Stock Performance

NASDAQ:Z opened at $67.84 on Monday. The stock has a 50-day moving average price of $53.13 and a 200 day moving average price of $48.50. The stock has a market capitalization of $15.70 billion, a P/E ratio of -98.32 and a beta of 1.94. Zillow Group has a 12-month low of $33.80 and a 12-month high of $68.73. 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 (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.13. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The business had revenue of $572.00 million for the quarter, compared to analysts’ expectations of $539.74 million. Equities research analysts forecast that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Activity

In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the sale, the chairman now owns 582 shares of the company’s stock, valued at $29,583.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Bradley D. Owens sold 752 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total value of $39,953.76. Following the transaction, the general counsel now directly owns 35,259 shares in the company, valued at $1,873,310.67. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the sale, the chairman now owns 582 shares of the company’s stock, valued at approximately $29,583.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 221,999 shares of company stock valued at $11,780,363. 23.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently added to or reduced their stakes in Z. Accretive Wealth Partners LLC grew its position in shares of Zillow Group by 4.3% during the 4th quarter. Accretive Wealth Partners LLC now owns 14,977 shares of the financial services provider’s stock worth $867,000 after buying an additional 616 shares in the last quarter. Principal Securities Inc. bought a new position in Zillow Group during the 4th quarter worth about $53,000. Vanguard Personalized Indexing Management LLC increased 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 purchasing an additional 604 shares during the period. Norges Bank bought a new stake in shares of Zillow Group in the 4th quarter valued at about $34,718,000. Finally, Gladstone Institutional Advisory LLC bought a new stake in shares of Zillow Group in the 4th quarter valued at about $213,000. 71.01% of the stock is currently owned by institutional investors.

Zillow Group Company Profile

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.