Zillow Group (NASDAQ:ZG) Now Covered by BNP Paribas Exane

Investment analysts at BNP Paribas Exane started coverage on shares of Zillow Group (NASDAQ:ZG) in a report issued on Wednesday. The firm set an “outperform” rating and a $85.00 price target on the technology company’s stock. BNP Paribas Exane’s target price would indicate a potential upside of 26.08% from the company’s previous close.

A number of other brokerages have also recently issued reports on ZG. Cantor Fitzgerald lowered their target price on shares of Zillow Group from $74.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, October 8th. Citigroup reissued a “market outperform” rating on shares of Zillow Group in a research note on Monday. BNP Paribas initiated coverage on shares of Zillow Group in a research report on Wednesday. They issued an “outperform” rating and a $85.00 price objective on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $85.00 price objective (down previously from $94.00) on shares of Zillow Group in a report on Friday, October 31st. Seventeen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.08.

Zillow Group Price Performance

NASDAQ:ZG opened at $67.42 on Wednesday. The company has a market capitalization of $16.32 billion, a P/E ratio of -486.32, a P/E/G ratio of 3.72 and a beta of 2.03. The business has a fifty day simple moving average of $69.40 and a two-hundred day simple moving average of $73.97. Zillow Group has a 1 year low of $56.63 and a 1 year high of $90.22.

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

Insider Activity

In related news, CFO Jeremy Hofmann sold 7,865 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.53, for a total value of $546,853.45. Following the completion of the transaction, the chief financial officer directly owned 70,811 shares in the company, valued at $4,923,488.83. This trade represents a 10.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik C. Blachford sold 965 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $72.51, for a total transaction of $69,972.15. Following the sale, the director directly owned 33,543 shares in the company, valued at $2,432,202.93. The trade was a 2.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 67,511 shares of company stock worth $4,766,357. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Large investors have recently modified their holdings of the stock. Norges Bank bought a new position in Zillow Group in the 2nd quarter worth about $159,770,000. UBS Group AG raised its holdings in Zillow Group by 18.2% in the third quarter. UBS Group AG now owns 704,805 shares of the technology company’s stock worth $52,466,000 after buying an additional 108,600 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Zillow Group by 60.1% in the third quarter. Wellington Management Group LLP now owns 557,735 shares of the technology company’s stock worth $41,518,000 after buying an additional 209,312 shares in the last quarter. Virtu Financial LLC increased its position in shares of Zillow Group by 271.9% during the third quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock valued at $21,864,000 after acquiring an additional 214,743 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Zillow Group by 110.8% in the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after acquiring an additional 152,955 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

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.