Zillow Group (NASDAQ:Z) Raised to Strong-Buy at BNP Paribas

Zillow Group (NASDAQ:Z) was upgraded by equities researchers at BNP Paribas to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Z has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price target on shares of Zillow Group from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. JPMorgan Chase & Co. lifted their price objective on Zillow Group from $94.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Oppenheimer initiated coverage on Zillow Group in a research note on Monday, October 6th. They issued a “market perform” rating on the stock. Finally, Gordon Haskett upgraded Zillow Group to a “strong-buy” rating in a research report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.83.

Zillow Group Trading Up 0.5%

Shares of NASDAQ Z opened at $67.89 on Wednesday. The firm has a market capitalization of $16.43 billion, a price-to-earnings ratio of -484.92, a PEG ratio of 3.74 and a beta of 2.07. Zillow Group has a one year low of $57.51 and a one year high of $93.88. The business has a fifty day simple moving average of $70.60 and a 200 day simple moving average of $76.26.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.44 earnings per share 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 business had revenue of $729.00 million for the quarter, compared to analyst estimates of $670.28 million. On average, research analysts anticipate that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO David A. Beitel sold 3,893 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $71.12, for a total transaction of $276,870.16. Following the completion of the sale, the chief technology officer owned 140,656 shares in the company, valued at $10,003,454.72. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeremy Wacksman sold 10,855 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 134,712 shares in the company, valued at approximately $9,428,492.88. This trade represents a 7.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 67,511 shares of company stock worth $4,766,357 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 have recently made changes to their positions in Z. Empowered Funds LLC increased its stake in Zillow Group by 4.7% during the 1st quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 171 shares during the period. Intech Investment Management LLC grew its holdings in shares of Zillow Group by 21.7% during the 1st quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock worth $1,407,000 after purchasing an additional 3,653 shares in the last quarter. Strs Ohio bought a new position in shares of Zillow Group in the first quarter worth $828,000. Wedmont Private Capital increased its position in shares of Zillow Group by 19.4% in the second quarter. Wedmont Private Capital now owns 3,993 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 648 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Zillow Group by 25.1% in the second quarter. Farther Finance Advisors LLC now owns 792 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 159 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

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.