Wedbush Reiterates “Outperform” Rating for Zillow Group (NASDAQ:Z)

Wedbush reiterated their outperform rating on shares of Zillow Group (NASDAQ:Z) in a research note issued to investors on Wednesday,Benzinga reports. Wedbush currently has a $100.00 target price on the financial services provider’s stock.

A number of other analysts have also recently commented on the company. Morgan Stanley lifted their price objective on Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. KeyCorp upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, February 2nd. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research note on Wednesday. Jefferies Financial Group raised their target price on shares of Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Baird R W upgraded Zillow Group to a “hold” rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.00.

Zillow Group Trading Down 9.4 %

Shares of NASDAQ Z opened at $78.21 on Wednesday. The firm’s 50-day moving average is $78.73 and its two-hundred day moving average is $68.13. Zillow Group has a 12-month low of $38.45 and a 12-month high of $89.39. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:Z) last posted its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. Research analysts anticipate that Zillow Group will post -0.42 EPS for the current year.

Insider Buying and Selling

In related news, CTO David A. Beitel sold 56,750 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $72.39, for a total value of $4,108,132.50. Following the transaction, the chief technology officer now owns 92 shares in the company, valued at approximately $6,659.88. This trade represents a 99.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer Rock sold 8,225 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $73.05, for a total transaction of $600,836.25. Following the sale, the chief accounting officer now owns 61,424 shares of the company’s stock, valued at approximately $4,487,023.20. This represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,730 shares of company stock valued at $10,896,034. Insiders own 23.76% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new stake in shares of Zillow Group in the second quarter valued at about $319,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Zillow Group by 400.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 400 shares during the period. Creative Planning grew its position in Zillow Group by 3.0% in the third quarter. Creative Planning now owns 19,139 shares of the financial services provider’s stock valued at $1,222,000 after acquiring an additional 558 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in shares of Zillow Group during the third quarter valued at approximately $213,000. Finally, Armstrong Fleming & Moore Inc acquired a new position in shares of Zillow Group during the third quarter worth $240,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.