Zillow Group (NASDAQ:ZG) Upgraded by KeyCorp to “Overweight” Rating

KeyCorp upgraded shares of Zillow Group (NASDAQ:ZG) from a sector weight rating to an overweight rating in a research note published on Monday, Marketbeat Ratings reports. The firm currently has $100.00 price objective on the technology company’s stock.

ZG has been the topic of a number of other reports. Barclays lifted their price target on Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Robert W. Baird assumed coverage on shares of Zillow Group in a report on Friday, January 31st. They set a “neutral” rating and a $88.00 target price on the stock. Royal Bank of Canada upped their price target on shares of Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group lifted their price target on shares of Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, December 2nd. Finally, Evercore ISI increased their price objective on Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.00.

Zillow Group Stock Performance

NASDAQ ZG opened at $83.10 on Monday. The firm’s fifty day moving average price is $75.53 and its two-hundred day moving average price is $64.53. The stock has a market cap of $19.41 billion, a PE ratio of -145.79, a PEG ratio of 10.99 and a beta of 2.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group has a fifty-two week low of $38.06 and a fifty-two week high of $83.67.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The company had revenue of $581.00 million for the quarter, compared to the consensus estimate of $555.45 million. During the same quarter last year, the business posted ($0.12) EPS. Zillow Group’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities analysts expect that Zillow Group will post -0.36 EPS for the current fiscal year.

Insider Activity

In other Zillow Group news, CTO David A. Beitel sold 56,750 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the sale, the chief technology officer now owns 92 shares of the company’s stock, valued at approximately $6,659.88. This trade represents a 99.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,212 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total value of $89,663.76. Following the transaction, the general counsel now directly owns 31,739 shares in the company, valued at $2,348,051.22. The trade was a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,689 shares of company stock worth $12,520,379 in the last quarter. 17.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently added to or reduced their stakes in the stock. L & S Advisors Inc purchased a new position in Zillow Group during the third quarter worth about $1,579,000. Mirabella Financial Services LLP bought a new position in shares of Zillow Group during the 3rd quarter worth approximately $11,351,000. JPMorgan Chase & Co. boosted its stake in shares of Zillow Group by 155.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company’s stock worth $2,060,000 after buying an additional 20,238 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Zillow Group by 28.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company’s stock valued at $1,753,000 after acquiring an additional 5,539 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Zillow Group by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock valued at $63,523,000 after acquiring an additional 32,766 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Company Profile

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.