Zillow Group (NASDAQ:ZG) Rating Increased to Strong-Buy at BNP Paribas

Zillow Group (NASDAQ:ZG) was upgraded by stock analysts at BNP Paribas to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Mizuho reaffirmed a “neutral” rating and set a $70.00 price target (down from $100.00) on shares of Zillow Group in a research note on Friday, January 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zillow Group in a report on Monday, December 15th. Citizens Jmp reduced their target price on shares of Zillow Group from $90.00 to $85.00 and set a “market outperform” rating for the company in a report on Monday. Finally, Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and a consensus price target of $85.08.

Zillow Group Trading Up 0.6%

ZG stock opened at $67.17 on Wednesday. Zillow Group has a 1-year low of $56.63 and a 1-year high of $90.22. The firm has a market cap of $16.26 billion, a PE ratio of -479.75, a P/E/G ratio of 3.70 and a beta of 2.03. The business’s 50-day moving average price is $69.28 and its two-hundred day moving average price is $73.88.

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

Insider Buying and Selling

In other Zillow Group news, insider Dan Spaulding sold 5,455 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $69.40, for a total transaction of $378,577.00. Following the transaction, the insider owned 50,342 shares of the company’s stock, valued at $3,493,734.80. The trade was a 9.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Errol G. Samuelson sold 7,641 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 120,815 shares of the company’s stock, valued at approximately $8,593,570.95. The trade was a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 67,511 shares of company stock worth $4,766,357. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Zillow Group in the 2nd quarter valued at approximately $159,770,000. UBS Group AG raised its position in Zillow Group by 18.2% during the third quarter. UBS Group AG now owns 704,805 shares of the technology company’s stock valued at $52,466,000 after purchasing an additional 108,600 shares in the last quarter. Wellington Management Group LLP lifted its stake in Zillow Group by 60.1% during the third quarter. Wellington Management Group LLP now owns 557,735 shares of the technology company’s stock worth $41,518,000 after purchasing an additional 209,312 shares during the last quarter. Virtu Financial LLC boosted 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 valued at $21,864,000 after purchasing an additional 214,743 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Zillow Group by 110.8% during the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after buying an additional 152,955 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Company Profile

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.