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

Zillow Group (NASDAQ:Z) was downgraded by investment analysts at KeyCorp from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday, Zacks reports.

A number of other equities research analysts have also commented on Z. Evercore lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Morgan Stanley lowered their price objective on 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. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Thursday, November 5th. Sanford C. Bernstein lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen cut Zillow Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $57.71.

Zillow Group Stock Performance

Shares of NASDAQ:Z opened at $30.67 on Friday. The company has a fifty day moving average of $30.71 and a 200-day moving average of $38.09. The company has a market capitalization of $6.90 billion, a PE ratio of -58.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.98. Zillow Group has a 52-week low of $26.67 and a 52-week high of $77.07.

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

Insider Buying and Selling at Zillow Group

In related news, CTO David Beitel sold 1,798 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $61,563.52. Following the transaction, the chief technology officer directly owned 133,013 shares in the company, valued at approximately $4,554,365.12. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the transaction, the chief financial officer owned 59,144 shares in the company, valued at $2,021,541.92. The trade was a 8.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders sold 37,352 shares of company stock worth $1,284,523. 23.76% of the stock is currently owned by insiders.

Institutional Trading of Zillow Group

A number of institutional investors have recently modified their holdings of the business. Fifth Third Bancorp increased its position in shares of Zillow Group by 13.7% during the third quarter. Fifth Third Bancorp now owns 3,516 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 423 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Zillow Group by 2.0% during the first quarter. NewEdge Advisors LLC now owns 38,052 shares of the financial services provider’s stock worth $1,575,000 after acquiring an additional 750 shares during the period. Covestor Ltd boosted its position in Zillow Group by 146.9% in the third quarter. Covestor Ltd now owns 1,296 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 771 shares during the last quarter. New York Life Investment Management LLC boosted its position in Zillow Group by 3.5% in the third quarter. New York Life Investment Management LLC now owns 22,616 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 775 shares during the last quarter. Finally, KBC Group NV grew its stake in Zillow Group by 2.9% in the 1st quarter. KBC Group NV now owns 33,219 shares of the financial services provider’s stock valued at $1,375,000 after purchasing an additional 951 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Company Profile

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.