Wedbush Reiterates Outperform Rating for Zillow Group (NASDAQ:Z)

Zillow Group (NASDAQ:Z)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $100.00 price objective on the financial services provider’s stock. Wedbush’s target price points to a potential upside of 31.12% from the company’s current price.

Z has been the subject of a number of other reports. Jefferies Financial Group upped their target price on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Morgan Stanley upped their target price on Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research note on Wednesday. Baird R W upgraded Zillow Group to a “hold” rating in a research note on Friday, January 31st. Finally, KeyCorp upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, February 2nd. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and an average price target of $82.00.

Zillow Group Stock Performance

Shares of Z traded down $10.06 during mid-day trading on Wednesday, hitting $76.27. The company’s stock had a trading volume of 6,637,568 shares, compared to its average volume of 2,509,314. Zillow Group has a one year low of $38.45 and a one year high of $89.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. The firm has a market capitalization of $17.81 billion, a PE ratio of -133.80, a price-to-earnings-growth ratio of 16.20 and a beta of 2.03. The stock’s 50-day moving average is $78.82 and its two-hundred day moving average is $68.06.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. As a group, sell-side analysts anticipate that Zillow Group will post -0.42 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Bradley D. Owens sold 1,846 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $73.03, for a total value of $134,813.38. Following the completion of the sale, the general counsel now directly owns 29,893 shares in the company, valued at approximately $2,183,085.79. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Errol G. Samuelson sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $73.57, for a total value of $1,250,690.00. Following the completion of the transaction, the insider now owns 22,739 shares in the company, valued at approximately $1,672,908.23. This represents a 42.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 142,730 shares of company stock worth $10,896,034 over the last three months. 23.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Zillow Group by 400.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 400 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Zillow Group in the third quarter valued at about $35,000. Blue Trust Inc. boosted its holdings in Zillow Group by 66.3% in the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 313 shares during the last quarter. Assetmark Inc. boosted its holdings in Zillow Group by 7,410.0% in the fourth quarter. Assetmark Inc. now owns 751 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 741 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Zillow Group in the third quarter valued at about $74,000. 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.