Zillow Group (NASDAQ:ZG) Upgraded at Mizuho

Mizuho upgraded shares of Zillow Group (NASDAQ:ZG) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. KeyCorp restated an “overweight” rating and set a $92.00 target price (up from $90.00) on shares of Zillow Group in a research report 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 report on Thursday, August 7th. Zelman & Associates upgraded shares of Zillow Group to a “hold” rating in a research report on Friday, August 8th. 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 report on Friday, August 8th. Finally, 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 report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

Zillow Group Stock Down 4.4%

NASDAQ ZG opened at $71.18 on Monday. The stock has a market capitalization of $17.24 billion, a P/E ratio of -273.77, a P/E/G ratio of 20.73 and a beta of 2.11. Zillow Group has a 52-week low of $55.08 and a 52-week high of $90.22. The firm has a 50-day moving average price of $80.29 and a 200 day moving average price of $72.04.

Zillow Group (NASDAQ:ZG) last issued its earnings results 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 company 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 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts expect that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In other Zillow Group news, Chairman Richard N. Barton sold 200,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $84.92, for a total transaction of $16,984,000.00. Following the completion of the transaction, the chairman directly owned 843,248 shares of the company’s stock, valued at $71,608,620.16. This trade represents a 19.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dan Spaulding sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the transaction, the insider directly owned 68,889 shares of the company’s stock, valued at approximately $5,918,253.99. This represents a 59.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 657,087 shares of company stock worth $56,286,479 over the last 90 days. Company insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Zillow Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 7,002,693 shares of the technology company’s stock worth $468,200,000 after buying an additional 57,693 shares during the last quarter. Norges Bank bought a new stake in Zillow Group in the 2nd quarter valued at about $159,770,000. Independent Franchise Partners LLP lifted its position in Zillow Group by 1.8% in the 1st quarter. Independent Franchise Partners LLP now owns 2,060,399 shares of the technology company’s stock valued at $137,758,000 after purchasing an additional 36,046 shares during the last quarter. Millennium Management LLC lifted its position in Zillow Group by 110.8% in the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after purchasing an additional 152,955 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Zillow Group by 0.7% in the 1st quarter. Northern Trust Corp now owns 248,737 shares of the technology company’s stock valued at $16,631,000 after purchasing an additional 1,659 shares during the last quarter. 20.32% 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.