Zillow Group (NASDAQ:ZG) Rating Increased to Outperform at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Zillow Group (NASDAQ:ZG) from a market perform rating to an outperform rating in a research note published on Wednesday morning, Marketbeat reports. The firm currently has $105.00 target price on the technology company’s stock, up from their previous target price of $75.00.

Several other research analysts also recently weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Zillow Group from $76.00 to $84.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their target price on shares of Zillow Group from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. DA Davidson upped their target price on shares of Zillow Group from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Piper Sandler upped their target price on shares of Zillow Group from $82.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Evercore ISI upped their target price on shares of Zillow Group from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Fourteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and a consensus target price of $86.41.

Zillow Group Trading Up 2.0%

ZG opened at $86.76 on Wednesday. The company’s fifty day moving average price is $79.81 and its two-hundred day moving average price is $71.57. Zillow Group has a 1-year low of $55.08 and a 1-year high of $90.22. The company has a market cap of $21.02 billion, a price-to-earnings ratio of -333.69, a PEG ratio of 23.70 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The business had revenue of $655.00 million for the quarter, compared to analyst estimates of $647.06 million. During the same quarter in the previous year, the company posted $0.39 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities analysts forecast that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other news, insider Dan Spaulding sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $85.91, for a total value of $8,591,000.00. Following the transaction, the insider owned 68,889 shares in the company, valued at approximately $5,918,253.99. This trade represents a 59.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the completion of the transaction, the chief financial officer owned 84,146 shares in the company, valued at $7,572,298.54. This represents a 22.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 657,087 shares of company stock valued at $56,286,479. 17.14% of the stock is currently owned by insiders.

Institutional Trading of Zillow Group

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Zillow Group by 38.0% in the first quarter. GAMMA Investing LLC now owns 1,828 shares of the technology company’s stock valued at $122,000 after acquiring an additional 503 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Zillow Group by 60.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,044 shares of the technology company’s stock valued at $404,000 after buying an additional 2,288 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Zillow Group during the 1st quarter valued at $370,000. SG Americas Securities LLC boosted its holdings in shares of Zillow Group by 253.3% during the 1st quarter. SG Americas Securities LLC now owns 20,980 shares of the technology company’s stock valued at $1,403,000 after buying an additional 15,042 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of Zillow Group during the 4th quarter valued at $228,000. Institutional investors own 20.32% of the company’s stock.

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.