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

KeyCorp downgraded shares of Zillow Group (NASDAQ:Z) from a strong-buy rating to a hold rating in a research report sent to investors on Sunday morning,Zacks reports.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Thursday, November 5th. Evercore lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Sanford C. Bernstein lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $57.71.

Zillow Group Price Performance

Z opened at $30.67 on Friday. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of -58.98, a P/E/G ratio of 1.45 and a beta of 1.98. The business’s 50-day moving average price is $30.71 and its two-hundred day moving average price is $38.09. Zillow Group has a 1 year low of $26.67 and a 1 year high of $77.07.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.55 earnings per share 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 firm had revenue of $724.00 million for the quarter, compared to analyst estimates of $753.54 million. Sell-side analysts anticipate that Zillow Group will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, insider Dan Spaulding sold 3,169 shares of Zillow Group stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.37, for a total transaction of $112,087.53. Following the completion of the transaction, the insider owned 44,561 shares in the company, valued at approximately $1,576,122.57. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $319,207.02. Following the transaction, the chief executive officer directly owned 138,574 shares in the company, valued at approximately $4,736,459.32. This trade represents a 6.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 37,352 shares of company stock valued at $1,284,523 in the last 90 days. Company insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tiger Global Management LLC raised its stake in Zillow Group by 21.7% in the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after acquiring an additional 1,312,000 shares during the period. Dimensional Fund Advisors LP boosted its position in Zillow Group by 21.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,896,206 shares of the financial services provider’s stock worth $78,461,000 after purchasing an additional 338,803 shares during the period. Quantinno Capital Management LP boosted its position in Zillow Group by 455.6% during the first quarter. Quantinno Capital Management LP now owns 641,618 shares of the financial services provider’s stock worth $26,550,000 after purchasing an additional 526,142 shares during the period. Swiss National Bank boosted its position in Zillow Group by 7.2% during the first quarter. Swiss National Bank now owns 491,834 shares of the financial services provider’s stock worth $20,352,000 after purchasing an additional 33,200 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of Zillow Group by 97.0% in the third quarter. IFP Advisors Inc now owns 469,184 shares of the financial services provider’s stock valued at $12,729,000 after purchasing an additional 231,002 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

About Zillow Group

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.