Zillow Group (NASDAQ:ZG) Upgraded to Buy at Gordon Haskett

Gordon Haskett upgraded shares of Zillow Group (NASDAQ:ZG) from a hold rating to a buy rating in a research note released on Friday, MarketBeat.com reports. They currently have $90.00 price target on the technology company’s stock.

A number of other research firms also recently commented on ZG. Evercore ISI increased their target price on shares of Zillow Group from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Wells Fargo & Company decreased their price objective on shares of Zillow Group from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Thursday, September 11th. JMP Securities reiterated a “market outperform” rating and set a $87.00 target price on shares of Zillow Group in a research report on Thursday, September 25th. Piper Sandler boosted their target price on Zillow Group from $82.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, DA Davidson reissued a “buy” rating and issued a $95.00 target price on shares of Zillow Group in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.92.

Zillow Group Stock Performance

ZG opened at $74.39 on Friday. Zillow Group has a one year low of $55.08 and a one year high of $90.22. The company has a market cap of $18.02 billion, a P/E ratio of -286.12, a PEG ratio of 20.18 and a beta of 2.11. The business’s 50-day simple moving average is $80.11 and its 200-day simple moving average is $72.11.

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

Insider Buying and Selling at Zillow Group

In related news, Chairman Richard N. Barton sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $84.92, for a total value of $16,984,000.00. Following the sale, the chairman directly owned 843,248 shares of the company’s stock, valued at approximately $71,608,620.16. This trade represents a 19.17% decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred 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 in the company, valued at approximately $5,918,253.99. This represents a 59.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 657,087 shares of company stock worth $56,286,479. 17.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently made changes to their positions in ZG. Vanguard Group Inc. lifted its holdings in shares of Zillow Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 7,002,693 shares of the technology company’s stock valued at $468,200,000 after acquiring an additional 57,693 shares in the last quarter. Norges Bank acquired a new position in shares of Zillow Group during the second quarter worth about $159,770,000. Independent Franchise Partners LLP boosted its position in shares of Zillow Group by 1.8% in the first quarter. Independent Franchise Partners LLP now owns 2,060,399 shares of the technology company’s stock worth $137,758,000 after buying an additional 36,046 shares during the period. Millennium Management LLC grew its stake in shares of Zillow Group by 110.8% in the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after buying an additional 152,955 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Zillow Group by 0.7% during the 1st quarter. Northern Trust Corp now owns 248,737 shares of the technology company’s stock worth $16,631,000 after acquiring an additional 1,659 shares in the last quarter. Institutional investors and hedge funds own 20.32% 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.