Barclays Upgrades Zillow Group (NASDAQ:Z) to Hold

Zillow Group (NASDAQ:Z) was upgraded by stock analysts at Barclays from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. BNP Paribas Exane raised shares of Zillow Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Exane BNP Paribas upgraded shares of Zillow Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Gordon Haskett upgraded shares of Zillow Group to a “strong-buy” rating in a report on Friday, October 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Zillow Group from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Four analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight 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 has a consensus rating of “Moderate Buy” and a consensus price target of $93.83.

Zillow Group Price Performance

Z stock opened at $63.03 on Thursday. The company has a market capitalization of $15.26 billion, a P/E ratio of -450.18, a price-to-earnings-growth ratio of 3.84 and a beta of 2.07. Zillow Group has a 12 month low of $57.51 and a 12 month high of $93.88. The firm’s fifty day simple moving average is $69.84 and its 200-day simple moving average is $75.71.

Zillow Group (NASDAQ:Z) last posted its 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). The business had revenue of $729.00 million for the quarter, compared to analyst estimates of $670.28 million. Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. As a group, sell-side analysts forecast that Zillow Group will post 0.32 earnings per share for the current year.

Insider Activity at Zillow Group

In other news, CEO Jeremy Wacksman sold 10,855 shares of Zillow Group 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 $9,428,492.88. The trade was a 7.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Errol G. Samuelson sold 7,641 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $71.13, for a total value of $543,504.33. Following the completion of the transaction, the insider owned 120,815 shares of the company’s stock, valued at $8,593,570.95. The trade was a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 67,511 shares of company stock worth $4,766,357. Company insiders own 25.03% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new stake in shares of Zillow Group during the 3rd quarter worth about $27,000. V Square Quantitative Management LLC acquired a new position in Zillow Group during the fourth quarter valued at approximately $28,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Zillow Group during the third quarter worth approximately $29,000. Cullen Frost Bankers Inc. grew its stake in Zillow Group by 58.6% during the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock worth $34,000 after buying an additional 163 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in shares of Zillow Group by 58.2% in the second quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 185 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Zillow Group

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.