Wells Fargo & Company Upgrades Zillow Group (NASDAQ:Z) to Hold

Zillow Group (NASDAQ:Z) was upgraded by research analysts at Wells Fargo & Company to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages also recently commented on Z. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 12th. Baird R W upgraded Zillow Group to a “hold” rating in a research report on Friday, January 31st. William Blair began coverage on Zillow Group in a research report on Monday, April 21st. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods assumed coverage on Zillow Group in a report on Friday, March 28th. They set a “market perform” rating and a $80.00 price target for the company. Finally, KeyCorp raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.71.

Zillow Group Stock Up 1.9 %

Shares of Z opened at $67.20 on Monday. Zillow Group has a 52-week low of $38.45 and a 52-week high of $89.39. The stock has a market cap of $16.30 billion, a PE ratio of -142.98, a price-to-earnings-growth ratio of 9.24 and a beta of 2.19. The firm’s fifty day moving average is $69.01 and its two-hundred day moving average is $73.26.

Zillow Group (NASDAQ:Z) last posted its quarterly 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 5.01% and a negative return on equity of 2.12%. As a group, research analysts anticipate that Zillow Group will post 0.32 earnings per share for the current year.

Insider Activity at Zillow Group

In other news, CFO Jeremy Hofmann sold 23,388 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. This trade represents a 19.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Errol G. Samuelson sold 2,854 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total transaction of $209,312.36. Following the completion of the sale, the insider now owns 142,636 shares of the company’s stock, valued at approximately $10,460,924.24. This trade represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,307 shares of company stock valued at $7,732,490 over the last three months. 23.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently bought and sold shares of Z. GAMMA Investing LLC boosted its stake in shares of Zillow Group by 47.7% in the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider’s stock valued at $42,000 after buying an additional 196 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Zillow Group during the 4th quarter worth $55,000. Assetmark Inc. grew its stake in shares of Zillow Group by 7,410.0% during the 4th quarter. Assetmark Inc. now owns 751 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 741 shares during the period. Blue Trust Inc. lifted its stake in shares of Zillow Group by 17.5% in the fourth quarter. Blue Trust Inc. now owns 922 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 137 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Zillow Group by 53.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,055 shares of the financial services provider’s stock worth $79,000 after buying an additional 367 shares during the period. Hedge funds and other institutional investors 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.