Zillow Group (NASDAQ:Z) Upgraded at Wedbush

Wedbush upgraded shares of Zillow Group (NASDAQ:Z) from a neutral rating to an outperform rating in a research report sent to investors on Monday morning, Marketbeat reports. The firm currently has $80.00 price objective on the financial services provider’s stock, up from their previous price objective of $50.00.

Other equities analysts have also recently issued research reports about the stock. Craig Hallum upgraded shares of Zillow Group to a strong-buy rating in a research note on Thursday, August 8th. UBS Group upgraded shares of Zillow Group to a strong-buy rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zillow Group from $55.00 to $60.00 and gave the stock a buy rating in a research note on Friday, August 9th. Needham & Company LLC reiterated a hold rating on shares of Zillow Group in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald upgraded shares of Zillow Group to a hold rating in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Zillow Group has an average rating of Moderate Buy and a consensus price target of $63.20.

Zillow Group Price Performance

Z opened at $65.11 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The stock has a market capitalization of $15.07 billion, a P/E ratio of -94.36 and a beta of 1.94. The company’s 50-day simple moving average is $52.77 and its two-hundred day simple moving average is $48.37. Zillow Group has a 52-week low of $33.80 and a 52-week high of $67.60.

Zillow Group (NASDAQ:Z) last posted its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.13. The business had revenue of $572.00 million for the quarter, compared to analysts’ expectations of $539.74 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. As a group, analysts predict that Zillow Group will post -0.33 EPS for the current year.

Insiders Place Their Bets

In other Zillow Group news, Director Thielke Claire Cormier sold 2,826 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.11, for a total transaction of $172,696.86. Following the completion of the sale, the director now directly owns 2,826 shares of the company’s stock, valued at approximately $172,696.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Thielke Claire Cormier sold 2,826 shares of Zillow Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.11, for a total transaction of $172,696.86. Following the sale, the director now owns 2,826 shares in the company, valued at $172,696.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jeremy Hofmann sold 7,155 shares of Zillow Group stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $56.89, for a total transaction of $407,047.95. Following the sale, the chief financial officer now owns 111,239 shares in the company, valued at approximately $6,328,386.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,374 shares of company stock worth $10,393,745. Company insiders own 23.76% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently modified their holdings of Z. Concord Wealth Partners bought a new stake in Zillow Group in the first quarter worth $26,000. Larson Financial Group LLC increased its position in Zillow Group by 364.4% in the second quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 481 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Zillow Group in the first quarter worth $37,000. Principal Securities Inc. bought a new stake in Zillow Group in the fourth quarter worth $53,000. Finally, Quarry LP bought a new stake in Zillow Group in the second quarter worth $61,000. Institutional investors own 71.01% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.