Zillow Group (NASDAQ:Z – Get Free Report) had its price objective dropped by equities researchers at Keefe, Bruyette & Woods from $50.00 to $37.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 14.25% from the stock’s previous close.
Z has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft cut their price objective on Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Royal Bank Of Canada dropped their price target on shares of Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 10th. UBS Group dropped their target price on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.14.
Zillow Group Stock Up 0.6%
Zillow Group (NASDAQ:Z – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.10 million. As a group, research analysts predict that Zillow Group will post 0.9 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, General Counsel Bradley D. Owens sold 3,364 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $37.23, for a total value of $125,241.72. Following the completion of the transaction, the general counsel directly owned 65,245 shares of the company’s stock, valued at $2,429,071.35. This trade represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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. Also, CFO Jeremy Hofmann sold 5,501 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $37.40, for a total transaction of $205,737.40. Following the completion of the sale, the chief financial officer directly owned 68,315 shares in the company, valued at $2,554,981. This trade represents a 7.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 a total of 42,910 shares of company stock valued at $1,605,732 in the last ninety days. 23.76% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Zillow Group
A number of institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in shares of Zillow Group in the 4th quarter valued at approximately $28,000. Flagship Harbor Advisors LLC acquired a new position in Zillow Group during the fourth quarter worth $43,000. IFC & Insurance Marketing Inc. bought a new position in shares of Zillow Group during the fourth quarter valued at $68,000. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Zillow Group during the fourth quarter valued at $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of Zillow Group by 34.5% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 300 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.
Zillow Group Company Profile
Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.
Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.
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