Zillow Group, Inc. (NASDAQ:Z) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Zillow Group, Inc. (NASDAQ:Z) have been assigned an average rating of “Hold” from the fifteen research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $57.71.

A number of research analysts recently commented on Z shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Morgan Stanley cut their price objective on shares of Zillow Group from $60.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday. Wall Street Zen downgraded shares of Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Finally, Sanford C. Bernstein lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th.

Insider Activity at Zillow Group

In other news, CFO Jeremy Hofmann sold 5,661 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $193,492.98. Following the completion of the sale, the chief financial officer owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. This represents a 8.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Erik Blachford sold 792 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $28,282.32. Following the sale, the director owned 34,160 shares in the company, valued at $1,219,853.60. This represents a 2.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 38,539 shares of company stock worth $1,323,800 in the last 90 days. Corporate insiders own 25.03% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tiger Global Management LLC boosted its holdings in shares of Zillow Group by 21.7% in the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after purchasing an additional 1,312,000 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Zillow Group by 455.6% in the 1st quarter. Quantinno Capital Management LP now owns 641,618 shares of the financial services provider’s stock valued at $26,550,000 after purchasing an additional 526,142 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Zillow Group by 21.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,896,206 shares of the financial services provider’s stock valued at $78,461,000 after purchasing an additional 338,803 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Zillow Group by 199.9% in the 1st quarter. Hsbc Holdings PLC now owns 439,222 shares of the financial services provider’s stock valued at $18,182,000 after purchasing an additional 292,760 shares during the last quarter. Finally, Coronation Fund Managers Ltd. increased its stake in shares of Zillow Group by 130.6% in the 1st quarter. Coronation Fund Managers Ltd. now owns 349,503 shares of the financial services provider’s stock valued at $14,462,000 after purchasing an additional 197,948 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Zillow Group Stock Performance

NASDAQ:Z opened at $30.82 on Friday. The stock has a fifty day moving average price of $31.82 and a 200-day moving average price of $34.99. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 140.10, a PEG ratio of 1.39 and a beta of 2.04. Zillow Group has a fifty-two week low of $26.67 and a fifty-two week high of $79.40.

Zillow Group (NASDAQ:Z) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The company had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.10 million. Research analysts predict that Zillow Group will post 0.88 EPS for the current fiscal year.

Zillow Group Company Profile

Zillow Group, Inc is a technology company that operates digital real estate marketplaces and related services in the United States. Its platforms help consumers search for homes to buy or rent, research neighborhoods and property values, connect with real estate professionals, and manage aspects of the transaction process.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, along with services such as Zillow Premier Agent, Zillow Rentals, ShowingTime+ and Zillow Home Loans.