Zillow Group Inc Class C (Z) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Zillow Group Inc Class C (NASDAQ:Z) from a buy rating to a hold rating in a research note issued to investors on Monday.

A number of other equities research analysts have also recently issued reports on Z. Morgan Stanley boosted their price objective on Zillow Group Inc Class C from $50.00 to $54.00 and gave the stock an equal weight rating in a report on Wednesday, July 11th. BidaskClub cut Zillow Group Inc Class C from a strong-buy rating to a buy rating in a report on Wednesday, August 1st. KeyCorp reduced their price objective on Zillow Group Inc Class C from $63.00 to $56.00 and set an overweight rating for the company in a report on Tuesday, August 7th. Finally, Bank of America cut Zillow Group Inc Class C from a buy rating to a neutral rating in a report on Tuesday, August 7th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Zillow Group Inc Class C presently has an average rating of Hold and a consensus price target of $56.11.

Zillow Group Inc Class C stock opened at $40.91 on Monday. Zillow Group Inc Class C has a 52 week low of $38.63 and a 52 week high of $65.70. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.18 and a quick ratio of 8.13. The stock has a market cap of $8.95 billion, a P/E ratio of 2,212.50 and a beta of 0.45.

Zillow Group Inc Class C (NASDAQ:Z) last posted its quarterly earnings results on Monday, August 6th. The financial services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Zillow Group Inc Class C had a positive return on equity of 0.23% and a negative net margin of 7.54%. The business had revenue of $325.25 million during the quarter.

In related news, CTO David A. Beitel sold 653 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $47.19, for a total transaction of $30,815.07. Following the completion of the sale, the chief technology officer now owns 41,090 shares in the company, valued at approximately $1,939,037.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Spencer M. Rascoff sold 79,950 shares of the stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $62.48, for a total value of $4,995,276.00. Following the sale, the chief executive officer now owns 91,950 shares of the company’s stock, valued at approximately $5,745,036. The disclosure for this sale can be found here. In the last quarter, insiders have sold 289,846 shares of company stock valued at $15,360,846. 58.08% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in Z. Korea Investment CORP acquired a new position in Zillow Group Inc Class C in the 2nd quarter valued at approximately $124,000. Royal Bank of Canada raised its holdings in Zillow Group Inc Class C by 125.9% in the 1st quarter. Royal Bank of Canada now owns 3,381 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 16,423 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Zillow Group Inc Class C in the 2nd quarter valued at approximately $184,000. WINTON GROUP Ltd acquired a new position in Zillow Group Inc Class C in the 1st quarter valued at approximately $201,000. Finally, Commonwealth Equity Services LLC acquired a new position in Zillow Group Inc Class C in the 2nd quarter valued at approximately $210,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

About Zillow Group Inc Class C

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable consumers find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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Analyst Recommendations for Zillow Group Inc Class C (NASDAQ:Z)

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