Zillow Group (NASDAQ:Z) Downgraded to “Hold” at BidaskClub

BidaskClub lowered shares of Zillow Group (NASDAQ:Z) from a buy rating to a hold rating in a research note released on Wednesday morning, BidAskClub reports.

Z has been the topic of a number of other research reports. ValuEngine upgraded shares of Zillow Group from a hold rating to a buy rating in a report on Thursday, August 1st. Morgan Stanley cut their price target on shares of Zillow Group from $39.00 to $37.00 and set an equal weight rating on the stock in a report on Thursday, August 8th. Bank of America increased their price target on shares of Zillow Group from $31.00 to $35.00 and gave the company an underperform rating in a report on Friday, May 10th. KeyCorp cut their price target on shares of Zillow Group from $66.00 to $65.00 and set an overweight rating on the stock in a report on Thursday, August 8th. Finally, Standpoint Research cut shares of Zillow Group from a buy rating to a hold rating in a report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $41.26.

NASDAQ:Z opened at $34.51 on Wednesday. The company’s 50 day moving average price is $45.00 and its 200-day moving average price is $40.73. Zillow Group has a 52 week low of $26.38 and a 52 week high of $51.47. The company has a current ratio of 3.67, a quick ratio of 2.76 and a debt-to-equity ratio of 0.28.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.21). Zillow Group had a negative net margin of 13.49% and a negative return on equity of 5.12%. The firm had revenue of $599.58 million for the quarter.

In other Zillow Group news, Director Jay C. Hoag purchased 690,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of $42.04 per share, for a total transaction of $29,007,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer Rock sold 2,500 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $42.72, for a total transaction of $106,800.00. Following the completion of the transaction, the chief accounting officer now owns 37,623 shares in the company, valued at $1,607,254.56. The disclosure for this sale can be found here. Insiders sold 232,941 shares of company stock worth $10,382,205 in the last 90 days. 19.87% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its holdings in Zillow Group by 1.1% in the 2nd quarter. Baillie Gifford & Co. now owns 11,564,525 shares of the financial services provider’s stock valued at $536,480,000 after acquiring an additional 128,756 shares during the last quarter. Vanguard Group Inc. increased its holdings in Zillow Group by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 9,814,560 shares of the financial services provider’s stock valued at $455,298,000 after acquiring an additional 58,454 shares during the last quarter. SRS Investment Management LLC increased its holdings in Zillow Group by 35.4% in the 2nd quarter. SRS Investment Management LLC now owns 5,960,740 shares of the financial services provider’s stock valued at $276,519,000 after acquiring an additional 1,556,872 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Zillow Group by 21.4% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 3,581,222 shares of the financial services provider’s stock valued at $166,133,000 after acquiring an additional 630,880 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Zillow Group by 3.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,536,017 shares of the financial services provider’s stock valued at $164,036,000 after acquiring an additional 130,449 shares during the last quarter. Institutional investors and hedge funds own 70.04% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate 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 (NASDAQ:Z)

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