Zillow Group (NASDAQ:Z) Cut to Hold at Mizuho

Mizuho cut shares of Zillow Group (NASDAQ:Z) from a strong-buy rating to a hold rating in a research note published on Thursday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reduced their target price on Zillow Group from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Zillow Group from $94.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Gordon Haskett raised shares of Zillow Group to a “strong-buy” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein upgraded shares of Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $91.14.

Zillow Group Price Performance

NASDAQ:Z opened at $68.75 on Thursday. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of -491.04, a PEG ratio of 3.81 and a beta of 2.07. The company’s 50-day moving average is $71.01 and its two-hundred day moving average is $76.33. Zillow Group has a 1-year low of $57.51 and a 1-year high of $93.88.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Zillow Group had a negative return on equity of 0.56% and a negative net margin of 1.29%.The firm had revenue of $729.00 million for the quarter, compared to analyst estimates of $670.28 million. As a group, equities analysts anticipate that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Dan Spaulding sold 5,455 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $69.40, for a total value of $378,577.00. Following the sale, the insider directly owned 50,342 shares in the company, valued at $3,493,734.80. This represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Wacksman sold 10,855 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $69.99, for a total value of $759,741.45. Following the sale, the chief executive officer directly owned 134,712 shares in the company, valued at approximately $9,428,492.88. The trade was a 7.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 67,511 shares of company stock valued at $4,766,357. Company insiders own 25.03% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds have recently added to or reduced their stakes in the business. WT Wealth Management acquired a new position in shares of Zillow Group in the third quarter worth about $1,458,000. Assenagon Asset Management S.A. grew its stake in Zillow Group by 353.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 143,212 shares of the financial services provider’s stock valued at $11,034,000 after purchasing an additional 111,664 shares in the last quarter. L1 Capital Pty Ltd purchased a new stake in Zillow Group during the 2nd quarter worth approximately $26,651,000. Arlington Partners LLC increased its holdings in Zillow Group by 17.3% during the 2nd quarter. Arlington Partners LLC now owns 64,042 shares of the financial services provider’s stock worth $4,486,000 after purchasing an additional 9,448 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Zillow Group by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,142,403 shares of the financial services provider’s stock valued at $219,467,000 after purchasing an additional 69,630 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.