Zillow Group (NASDAQ:ZG) Cut to “Hold” at Mizuho

Mizuho downgraded shares of Zillow Group (NASDAQ:ZG) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $85.00 price objective (down from $94.00) on shares of Zillow Group in a report on Friday, October 31st. Benchmark reissued a “buy” rating on shares of Zillow Group in a research note on Tuesday, December 16th. DA Davidson restated a “buy” rating and set a $95.00 price target on shares of Zillow Group in a research report on Thursday, October 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zillow Group in a report on Monday, December 15th. Finally, Oppenheimer initiated coverage on Zillow Group in a research note on Monday, October 6th. They issued a “market perform” rating for the company. Fourteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.52.

Zillow Group Trading Down 2.0%

ZG opened at $67.16 on Thursday. The stock has a market capitalization of $16.26 billion, a P/E ratio of -479.68, a PEG ratio of 3.72 and a beta of 2.03. The stock has a 50-day moving average price of $69.52 and a 200-day moving average price of $73.93. Zillow Group has a 12-month low of $56.63 and a 12-month high of $90.22.

Zillow Group (NASDAQ:ZG) last released its earnings results on Thursday, October 30th. The technology company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The firm had revenue of $676.00 million during the quarter, compared to the consensus estimate of $670.28 million. Zillow Group had a negative return on equity of 0.56% and a negative net margin of 1.29%.The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. On average, equities research analysts predict that Zillow Group will post 0.32 EPS for the current year.

Insider Activity at Zillow Group

In other Zillow Group news, General Counsel Bradley D. Owens sold 2,722 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $67.41, for a total transaction of $183,490.02. Following the sale, the general counsel directly owned 37,974 shares in the company, valued at $2,559,827.34. This represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeremy Wacksman sold 10,855 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $69.99, for a total value of $759,741.45. Following the completion of the sale, the chief executive officer owned 134,712 shares of the company’s stock, valued at approximately $9,428,492.88. This represents a 7.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 67,511 shares of company stock valued at $4,766,357 over the last quarter. 17.14% of the stock is currently owned by insiders.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in shares of Zillow Group by 78.9% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after purchasing an additional 187 shares during the period. Jones Financial Companies Lllp grew its holdings in Zillow Group by 23.1% in the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock worth $80,000 after purchasing an additional 194 shares during the last quarter. Group One Trading LLC grew its stake in Zillow Group by 884.7% during the 3rd quarter. Group One Trading LLC now owns 1,477 shares of the technology company’s stock worth $110,000 after buying an additional 1,327 shares during the last quarter. Lavaca Capital LLC increased its holdings in shares of Zillow Group by 67.0% during the second quarter. Lavaca Capital LLC now owns 1,670 shares of the technology company’s stock valued at $114,000 after acquiring an additional 670 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Zillow Group by 207.0% during the second quarter. Assetmark Inc. now owns 1,980 shares of the technology company’s stock valued at $136,000 after acquiring an additional 1,335 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.