Wedbush Upgrades Zillow Group (NASDAQ:ZG) to “Outperform”

Zillow Group (NASDAQ:ZG) was upgraded by stock analysts at Wedbush from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, Marketbeat.com reports. The firm currently has a $80.00 target price on the technology company’s stock, up from their previous target price of $50.00. Wedbush’s price objective would suggest a potential upside of 38.31% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Zillow Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Susquehanna upped their target price on Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. UBS Group lifted their price target on Zillow Group from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Benchmark upped their price objective on Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Craig Hallum raised their price objective on Zillow Group from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and an average price target of $59.82.

Zillow Group Price Performance

Zillow Group stock opened at $57.84 on Monday. The company has a market capitalization of $13.39 billion, a price-to-earnings ratio of -83.83 and a beta of 2.00. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group has a 12 month low of $33.23 and a 12 month high of $59.23. The stock’s 50 day moving average is $50.21 and its 200-day moving average is $46.94.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The business had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. During the same quarter in the previous year, the company earned ($0.05) EPS. The business’s revenue was up 13.0% on a year-over-year basis. Equities research analysts expect that Zillow Group will post -0.33 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other news, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now directly owns 582 shares in the company, valued at $29,583.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, 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 value of $7,624,500.00. Following the completion of the transaction, the chairman now directly owns 582 shares in the company, valued at $29,583.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Daimler sold 3,484 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total transaction of $188,763.12. Following the completion of the transaction, the insider now directly owns 22,464 shares of the company’s stock, valued at $1,217,099.52. The disclosure for this sale can be found here. Insiders have sold 198,548 shares of company stock valued at $10,221,048 in the last 90 days. 17.14% of the stock is currently owned by company insiders.

Institutional Trading of Zillow Group

A number of large investors have recently modified their holdings of the business. Shannon River Fund Management LLC purchased a new stake in Zillow Group in the fourth quarter valued at approximately $4,384,000. GSA Capital Partners LLP lifted its holdings in shares of Zillow Group by 47.8% during the 4th quarter. GSA Capital Partners LLP now owns 78,301 shares of the technology company’s stock worth $4,441,000 after acquiring an additional 25,333 shares during the last quarter. Norges Bank purchased a new position in Zillow Group in the fourth quarter worth $102,096,000. Edgestream Partners L.P. increased its stake in Zillow Group by 140.6% in the first quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock valued at $992,000 after acquiring an additional 12,116 shares during the last quarter. Finally, US Bancorp DE raised its position in Zillow Group by 42.6% during the first quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock valued at $11,775,000 after purchasing an additional 73,504 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

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.