Shares of Zillow Group, Inc. (NASDAQ:Z) have received a “Hold” rating from the five ratings firms currently covering the company, according to Bloomberg Ratings. Out of the five firms, three research analysts have rated the stock as a hold, while two have given it a buy rating. The average 1-year price objective among these brokerages is $53.50.
In recent news, insider Errol G. Samuelson sold 19,000 shares of Zillow Group’s stock in a transaction that took place on August 30th. The shares were sold at an average price of $52.66, totaling to $1,000,540.00 in value. Following this transaction, Samuelson now owns 131,455 shares in the company with a value of $6,922,420.30. This sale was disclosed in a legal filing with the Securities and Exchange Commission (SEC) and can be found at this hyperlink.
It’s worth noting that Samuelson also sold 19,000 shares of Zillow Group’s stock on the same day at an average price of $52.66, resulting in a total transaction value of $1,000,540.00. Following the sale, Samuelson now has ownership of 131,455 shares worth $6,922,420.30 in total.
Additionally, Chief Accounting Officer Jennifer Rock sold 11,568 shares of Zillow Group’s stock on August 3rd at an average price of $52.89 per share. The total value of this transaction amounted to $611,831.52. After selling these shares , Rock now owns 75,298 shares in the company with an approximate value of $3,982,511.22.The details regarding this sale can be found through this link.
It is interesting to note that over the past 90 days alone , insiders have sold around 82 ,745 shares of Zillow Group’s stock, equating to a total value of $4,313,262. Currently, corporate insiders own 15.30% of the company’s stock.
On August 2nd, Zillow Group released its quarterly earnings results. The financial services provider reported earnings per share of ($0.05) for the quarter. The company had a negative return on equity of 2.78% and a negative net margin of 9.61%. During this quarter, Zillow Group generated $506 million in revenue.
In summary, Zillow Group has received mixed ratings from analysts, with three holding the stock and two recommending a buy. Insiders have been active in selling their shares over the past few months, owning 15.30% of the company’s stock at present. Moreover, the latest quarterly earnings report showed negative results in terms of earnings per share and net margin for Zillow Group.
Please note that this information is based on data available as of September 18, 2023
Zillow Group’s Positive Ratings and Institutional Investment Boost
On September 18, 2023, Zillow Group’s shares drew attention from several equities analysts in the market. VNET Group reiterated its “initiates” rating on Zillow Group’s shares, highlighting its potential in a research note released on June 27th. Jefferies Financial Group also expressed optimism by upping the target price from $55.00 to $62.00 and giving the company a “buy” rating in their research note on July 25th.
Wells Fargo & Company chimed in as well, increasing their target price on Zillow Group to $55.00 on August 4th. TheStreet shared a positive sentiment by upgrading Zillow Groups rating from a “d+” to a “c-” in their research note published on July 19th. Furthermore, Morgan Stanley echoed an optimistic outlook by maintaining an “equal weight” rating and issuing a target price of $55.00 for Zillow Groups shares on August 3rd.
In relation to these positive ratings and recommendations, numerous institutional investors and hedge funds have made alterations to their positions with regards to the stock. Commerce Bank boosted its position in shares of Zillow Group during the second quarter by acquiring an additional 185 shares, resulting in a total ownership of 6,899 shares worth approximately $347,000. Belpointe Asset Management LLC increased its holdings by 27.4% during the first quarter and now owns 1,144 shares valued at around $51,000.
Additionally, Jacob Asset Management of New York LLC purchased an additional 281 shares during the second quarter amounting to a total holding of 53,000 shares worth roughly $2,664,000. Steward Partners Investment Advisory LLC experienced growth of approximately 24.9% during the first quarter and now possesses 1,496 shares worth about $67,000. Finally, M&T Bank Corp also expanded its holdings during the first quarter by purchasing an additional 328 shares, bringing their total ownership to 6,765 shares valued at approximately $301,000. Altogether, institutional investors and hedge funds currently own around 71.17% of Zillow Group’s stock.
As for Zillow Group’s recent performance, its stock opened at $47.43 on Monday. Over the past year, this financial services provider has experienced a low of $26.14 and a high of $57.19. The company currently holds a market cap of $11.04 billion and has a price-to-earnings ratio of -61.60 along with a beta of 1.67. With regards to its moving averages, the stock’s 50-day moving average stands at $52.63, while the 200-day moving average is recorded as $47.81. Furthermore, Zillow Group maintains a debt-to-equity ratio of 0.37 and has both quick and current ratios standing at 10.90.
In conclusion, despite the high degree of perplexity and bustiness surrounding Zillow Group’s recent performance and ratings from equities analysts, it appears that this company still garners attention from investors and institutions alike due to its potential in the market. Moving forward, it will be interesting to see how these factors continue to shape the trajectory of Zillow Group in the coming months and years.