Zillow Group (NASDAQ:ZG) Now Covered by Analysts at BNP Paribas Exane

Equities research analysts at BNP Paribas Exane initiated coverage on shares of Zillow Group (NASDAQ:ZG) in a research note issued to investors on Wednesday. The firm set an “outperform” rating and a $85.00 price target on the technology company’s stock. BNP Paribas Exane’s target price would suggest a potential upside of 26.08% from the company’s current price.

Other research analysts have also issued reports about the company. Citigroup reaffirmed a “market outperform” rating on shares of Zillow Group in a report on Monday. Citizens Jmp reduced their price objective on shares of Zillow Group from $90.00 to $85.00 and set a “market outperform” rating for the company in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. The Goldman Sachs Group reissued a “neutral” rating and set a $78.00 target price on shares of Zillow Group in a research note on Friday, October 31st. Finally, Cantor Fitzgerald reduced their target price on shares of Zillow Group from $74.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Seventeen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.08.

Zillow Group Trading Down 0.6%

ZG opened at $67.42 on Wednesday. The business’s 50 day moving average is $69.40 and its 200-day moving average is $73.97. The stock has a market cap of $16.32 billion, a PE ratio of -486.32, a price-to-earnings-growth ratio of 3.72 and a beta of 2.03. Zillow Group has a twelve month low of $56.63 and a twelve month high of $90.22.

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

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 7,865 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.53, for a total value of $546,853.45. Following the completion of the transaction, the chief financial officer directly owned 70,811 shares of the company’s stock, valued at approximately $4,923,488.83. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Erik C. Blachford sold 965 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $72.51, for a total transaction of $69,972.15. Following the sale, the director directly owned 33,543 shares in the company, valued at $2,432,202.93. This trade represents a 2.80% 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. 17.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Zillow Group in the second quarter worth about $159,770,000. UBS Group AG lifted its position in shares of Zillow Group by 18.2% during the 3rd quarter. UBS Group AG now owns 704,805 shares of the technology company’s stock valued at $52,466,000 after acquiring an additional 108,600 shares during the period. Wellington Management Group LLP raised its stake in Zillow Group by 60.1% during the 3rd quarter. Wellington Management Group LLP now owns 557,735 shares of the technology company’s stock worth $41,518,000 after buying an additional 209,312 shares during the period. Virtu Financial LLC lifted its holdings in shares of Zillow Group by 271.9% in the 3rd quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock worth $21,864,000 after purchasing an additional 214,743 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Zillow Group by 110.8% in the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after buying an additional 152,955 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

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.