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

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

A number of other equities analysts have also recently weighed in on Z. Morgan Stanley lifted their price target on Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Jefferies Financial Group lifted their price target on Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Zillow Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday. Baird R W raised Zillow Group to a “hold” rating in a research note on Friday, January 31st. Finally, Bank of America lifted their price target on Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Zillow Group Price Performance

Zillow Group stock traded down $10.06 during midday 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. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $78.82 and its 200-day moving average price is $68.06. Zillow Group has a 12 month low of $38.45 and a 12 month high of $89.39. The company 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.

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

Insider Buying and Selling at Zillow Group

In other news, insider Dan Spaulding sold 4,565 shares of Zillow Group stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $86.22, for a total transaction of $393,594.30. Following the completion of the sale, the insider now directly owns 58,217 shares in the company, valued at $5,019,469.74. The trade was a 7.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Rock sold 8,225 shares of Zillow Group stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $73.05, for a total value of $600,836.25. Following the sale, the chief accounting officer now owns 61,424 shares of the company’s stock, valued at approximately $4,487,023.20. This represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 142,730 shares of company stock valued at $10,896,034 in the last 90 days. 23.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Zillow Group by 400.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 400 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Zillow Group in the 3rd quarter worth approximately $35,000. Blue Trust Inc. lifted its holdings in Zillow Group by 66.3% in the 3rd quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 313 shares during the last quarter. Assetmark Inc. lifted its holdings in Zillow Group by 7,410.0% in the 4th quarter. Assetmark Inc. now owns 751 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 741 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Zillow Group in the 3rd quarter worth approximately $74,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Zillow Group

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.