Zillow Group (NASDAQ:Z) Stock Rating Cut to “Hold” at KeyCorp

Zillow Group (NASDAQ:Z) was downgraded by equities researchers at KeyCorp from a “strong-buy” rating to a “hold” rating in a research note issued on Sunday, Zacks reports.

Several other analysts also recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Thursday, November 5th. Wall Street Zen downgraded shares of Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Evercore lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Morgan Stanley dropped their price target on shares of Zillow Group from $60.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Zillow Group in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $57.71.

Zillow Group Trading Up 3.8%

Z opened at $30.67 on Friday. The company has a market cap of $6.90 billion, a P/E ratio of -58.98, a P/E/G ratio of 1.45 and a beta of 1.98. The business’s 50-day moving average price is $30.71 and its 200-day moving average price is $38.09. Zillow Group has a 12 month low of $26.67 and a 12 month high of $77.07.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, November 4th. The financial services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). The company had revenue of $724.00 million for the quarter, compared to analysts’ expectations of $753.54 million. Zillow Group had a negative net margin of 3.95% and a positive return on equity of 3.18%. Equities research analysts forecast that Zillow Group will post 0.91 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In related news, CEO Jeremy Wacksman sold 9,339 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of the transaction, the chief executive officer directly owned 138,574 shares of the company’s stock, valued at $4,736,459.32. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the sale, the chief financial officer directly owned 59,144 shares in the company, valued at approximately $2,021,541.92. The trade was a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 37,352 shares of company stock valued at $1,284,523 over the last three months. Corporate insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of Z. Tiger Global Management LLC lifted its position in Zillow Group by 21.7% during the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after acquiring an additional 1,312,000 shares during the period. Dimensional Fund Advisors LP increased its position in Zillow Group by 21.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,896,206 shares of the financial services provider’s stock valued at $78,461,000 after buying an additional 338,803 shares in the last quarter. Quantinno Capital Management LP increased its position in Zillow Group by 455.6% during the 1st quarter. Quantinno Capital Management LP now owns 641,618 shares of the financial services provider’s stock valued at $26,550,000 after buying an additional 526,142 shares in the last quarter. Swiss National Bank increased its position in Zillow Group by 7.2% during the 1st quarter. Swiss National Bank now owns 491,834 shares of the financial services provider’s stock valued at $20,352,000 after buying an additional 33,200 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Zillow Group by 97.0% during the third quarter. IFP Advisors Inc now owns 469,184 shares of the financial services provider’s stock valued at $12,729,000 after buying an additional 231,002 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

About Zillow Group

Zillow Group, Inc operates a collection of digital real estate brands, including Zillow, Trulia, StreetEasy and HotPads. Its platforms help consumers search for homes to buy or rent, explore neighborhoods and connect with real estate professionals.

The company also offers services and tools for real estate agents, landlords and other industry participants, along with mortgage and home transaction services. Zillow’s Zestimate provides an estimate of a home’s value, while its rental products support apartment and home searches and connections between renters and property managers.

Founded in 2006 and headquartered in Seattle, Washington, Zillow Group primarily serves the U.S.