Zillow Group, Inc. (NASDAQ:Z) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Zillow Group, Inc. (NASDAQ:Z) have been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $61.29.

Several research analysts recently weighed in on Z shares. Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Jefferies Financial Group decreased their price objective on Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Morgan Stanley set a $60.00 target price on Zillow Group in a research report on Thursday, August 6th. Royal Bank Of Canada cut their price target on Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Zillow Group in a report on Wednesday, August 19th.

Insider Activity

In other Zillow Group news, insider Dan Spaulding sold 3,169 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $35.37, for a total transaction of $112,087.53. Following the transaction, the insider directly owned 44,561 shares in the company, valued at approximately $1,576,122.57. This represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Erik Blachford sold 792 shares of Zillow Group 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 of the company’s stock, valued at approximately $1,219,853.60. This represents a 2.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 38,539 shares of company stock worth $1,323,800. Corporate insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

Institutional investors have recently bought and sold shares of the business. Leonteq Securities AG lifted its stake in shares of Zillow Group by 627.0% in the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,160 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Zillow Group by 283.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 1,045 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in Zillow Group in the fourth quarter valued at about $71,000. Integrated Wealth Concepts LLC acquired a new position in Zillow Group in the second quarter valued at about $78,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Zillow Group by 34.5% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock valued at $80,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Zillow Group Stock Down 3.5%

Shares of NASDAQ:Z opened at $27.44 on Tuesday. The firm has a market cap of $6.17 billion, a P/E ratio of 124.73, a P/E/G ratio of 1.24 and a beta of 2.00. Zillow Group has a 12 month low of $27.20 and a 12 month high of $81.56. The company’s 50-day moving average price is $33.20 and its two-hundred day moving average price is $36.45.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The company had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. As a group, equities analysts predict that Zillow Group will post 0.89 earnings per share for the current fiscal year.

About Zillow Group

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms designed to help consumers discover, buy, sell, rent and finance homes. Its websites and mobile applications provide property listings, home values, market data, search tools and connections to real estate professionals.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, which serve residential real estate consumers and professionals across the United States.