Zillow Group (NASDAQ:Z) Stock Rating Cut to “Hold” at KeyCorp

Zillow Group (NASDAQ:Z) was downgraded by investment analysts at KeyCorp from a “strong-buy” rating to a “hold” rating in a report issued on Sunday, Zacks reports.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group decreased their target price on Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. JPMorgan Chase & Co. cut their price target on Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Keefe, Bruyette & Woods reduced their price objective on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating for the company in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Finally, Evercore lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Zillow Group has a consensus rating of “Hold” and a consensus target price of $57.71.

Zillow Group Price Performance

Shares of NASDAQ Z opened at $30.67 on Friday. The business has a fifty day moving average price of $30.71 and a two-hundred day moving average price of $38.09. The stock has a market capitalization of $6.90 billion, a PE ratio of -58.98, a P/E/G ratio of 1.45 and a beta of 1.98. Zillow Group has a fifty-two week low of $26.67 and a fifty-two week high of $77.07.

Zillow Group (NASDAQ:Z) last released its earnings results on Wednesday, November 4th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). Zillow Group had a positive return on equity of 3.18% and a negative net margin of 3.95%. The company had revenue of $724.00 million for the quarter, compared to analyst estimates of $753.54 million. On average, equities analysts expect that Zillow Group will post 0.91 EPS for the current year.

Insiders Place Their Bets

In other news, Director Claire Cormier Thielke sold 1,187 shares of Zillow Group stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $42,387.77. Following the completion of the sale, the director owned 2,375 shares in the company, valued at approximately $84,811.25. This trade represents a 33.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,169 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.37, for a total transaction of $112,087.53. Following the completion of the sale, the insider directly owned 44,561 shares in the company, valued at $1,576,122.57. This represents a 6.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 37,352 shares of company stock worth $1,284,523 in the last ninety days. 23.76% of the stock is owned by corporate insiders.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC purchased a new position in shares of Zillow Group in the 3rd quarter worth about $27,000. Jacobi Capital Management LLC purchased a new position in shares of Zillow Group during the 3rd quarter valued at about $33,000. Root Financial Partners LLC bought a new stake in Zillow Group in the 3rd quarter worth approximately $34,000. Covestor Ltd lifted its position in Zillow Group by 146.9% in the 3rd quarter. Covestor Ltd now owns 1,296 shares of the financial services provider’s stock worth $35,000 after buying an additional 771 shares during the last quarter. Finally, Heritage Family Offices LLP purchased a new stake in Zillow Group in the third quarter worth approximately $45,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc operates a collection of digital real estate brands, including Zillow, Trulia, StreetEasy and HotPads. Its platforms help consumers search for homes to buy or rent, explore neighborhoods and connect with real estate professionals.

The company also offers services and tools for real estate agents, landlords and other industry participants, along with mortgage and home transaction services. Zillow’s Zestimate provides an estimate of a home’s value, while its rental products support apartment and home searches and connections between renters and property managers.

Founded in 2006 and headquartered in Seattle, Washington, Zillow Group primarily serves the U.S.