Zillow Group (NASDAQ:Z) Stock Rating Upgraded by Wedbush

Zillow Group (NASDAQ:Z) was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating in a report released on Monday, Marketbeat reports. The firm presently has a $80.00 price objective on the financial services provider’s stock, up from their previous price objective of $50.00. Wedbush’s price objective would indicate a potential upside of 27.37% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Craig Hallum raised Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald upgraded Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. UBS Group upgraded shares of Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.20.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $62.81 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. Zillow Group has a 1 year low of $33.80 and a 1 year high of $64.24. The firm’s 50-day simple moving average is $52.11 and its 200-day simple moving average is $48.21. The firm has a market cap of $14.83 billion, a PE ratio of -91.03 and a beta of 1.94.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.13. The company had revenue of $572.00 million during the quarter, compared to analyst estimates of $539.74 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. Equities analysts forecast that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Thielke Claire Cormier sold 2,826 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 2,826 shares in the company, valued at approximately $172,696.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Thielke Claire Cormier sold 2,826 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.11, for a total value of $172,696.86. Following the completion of the sale, the director now owns 2,826 shares of the company’s stock, valued at approximately $172,696.86. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the transaction, the chairman now directly owns 582 shares in the company, valued at approximately $29,583.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,374 shares of company stock worth $10,393,745. 23.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in Z. Concord Wealth Partners bought a new position in Zillow Group in the 1st quarter worth $26,000. Larson Financial Group LLC increased its stake in shares of 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 period. Fidelis Capital Partners LLC bought a new position in shares of Zillow Group in the first quarter worth about $37,000. Principal Securities Inc. acquired a new stake in Zillow Group in the 4th quarter valued at approximately $53,000. Finally, Quarry LP acquired a new position in shares of Zillow Group during the second quarter worth approximately $61,000. 71.01% of the stock is owned by institutional investors.

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.