Zillow Group (NASDAQ:ZG) Upgraded by BNP Paribas to Strong-Buy Rating

BNP Paribas upgraded shares of Zillow Group (NASDAQ:ZG) to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

A number of other analysts also recently issued reports on ZG. Susquehanna cut their target price on Zillow Group from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. JPMorgan Chase & Co. raised their price objective on shares of Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Mizuho reiterated a “neutral” rating and issued a $70.00 target price (down from $100.00) on shares of Zillow Group in a report on Friday, January 9th. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zillow Group in a report on Monday, December 15th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $78.00 price objective on shares of Zillow Group in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.08.

Zillow Group Stock Up 0.6%

Zillow Group stock opened at $67.17 on Wednesday. The company has a fifty day simple moving average of $69.28 and a 200-day simple moving average of $73.88. The firm has a market capitalization of $16.26 billion, a price-to-earnings ratio of -479.75, a PEG ratio of 3.70 and a beta of 2.03. Zillow Group has a 52-week low of $56.63 and a 52-week high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Zillow Group had a negative return on equity of 0.56% and a negative net margin of 1.29%.The business had revenue of $676.00 million for the quarter, compared to analyst estimates of $670.28 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. On average, research analysts anticipate that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Activity at Zillow Group

In other news, CEO Jeremy Wacksman sold 10,855 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.99, for a total transaction of $759,741.45. Following the transaction, the chief executive officer directly owned 134,712 shares in the company, valued at $9,428,492.88. This represents a 7.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dan Spaulding sold 5,455 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $69.40, for a total transaction of $378,577.00. Following the completion of the sale, the insider owned 50,342 shares of the company’s stock, valued at approximately $3,493,734.80. The trade was a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 67,511 shares of company stock worth $4,766,357. Corporate insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently bought and sold shares of ZG. Wealth Enhancement Advisory Services LLC raised its stake in shares of Zillow Group by 7.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,915 shares of the technology company’s stock valued at $258,000 after acquiring an additional 258 shares during the period. GAMMA Investing LLC increased its holdings in Zillow Group by 22.5% in the 4th quarter. GAMMA Investing LLC now owns 2,264 shares of the technology company’s stock valued at $154,000 after purchasing an additional 416 shares in the last quarter. JPMorgan Chase & Co. raised its position in Zillow Group by 14.1% in the third quarter. JPMorgan Chase & Co. now owns 24,057 shares of the technology company’s stock valued at $1,791,000 after purchasing an additional 2,964 shares during the period. Garde Capital Inc. lifted its stake in shares of Zillow Group by 0.4% during the third quarter. Garde Capital Inc. now owns 107,816 shares of the technology company’s stock worth $8,026,000 after purchasing an additional 400 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Zillow Group during the third quarter worth about $980,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.