Zillow Group (NASDAQ:Z) Shares Climb 7.8% – What’s Next?

Zillow Group, Inc. (NASDAQ:Z) rose 7.8% during mid-day trading on Thursday. The stock traded as high as $33.48 and last traded at $33.74. 1,385,614 shares changed hands during trading, a decline of 67% from the average session volume of 4,190,213 shares. The stock had previously closed at $31.31.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Evercore lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Jefferies Financial Group dropped their price objective on Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen lowered Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Keefe, Bruyette & Woods cut their target price on Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a research note on Friday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Zillow Group has an average rating of “Hold” and a consensus price target of $57.71.

Zillow Group Trading Down 2.9%

The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 149.92, a PEG ratio of 1.50 and a beta of 2.04. The stock has a 50-day moving average price of $31.61 and a two-hundred day moving average price of $34.69.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The firm had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.10 million. Research analysts predict that Zillow Group, Inc. will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, Director Erik Blachford sold 792 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total transaction of $28,282.32. Following the transaction, the director owned 34,160 shares in the company, valued at $1,219,853.60. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,169 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.37, for a total transaction of $112,087.53. Following the completion of the transaction, the insider directly owned 44,561 shares of the company’s stock, valued at $1,576,122.57. The trade was a 6.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 38,539 shares of company stock valued at $1,323,800. Insiders own 25.03% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in Z. Tiger Global Management LLC raised 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 worth $304,927,000 after buying an additional 1,312,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 acquiring an additional 338,803 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Zillow Group by 455.6% in 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 acquiring an additional 526,142 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Zillow Group by 7.2% in the 1st quarter. Swiss National Bank now owns 491,834 shares of the financial services provider’s stock valued at $20,352,000 after acquiring an additional 33,200 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Zillow Group by 199.9% in the 1st quarter. Hsbc Holdings PLC now owns 439,222 shares of the financial services provider’s stock valued at $18,182,000 after acquiring an additional 292,760 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Zillow Group

Zillow Group, Inc (NASDAQ: Z) operates a digital real estate marketplace in the United States. Its platforms help consumers search for homes, research neighborhoods and market conditions, connect with real estate professionals, and manage various steps in the home-buying, selling, renting and financing processes.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, which provide property listings and real estate information. Zillow Group also offers services for real estate professionals, including marketing, lead generation, transaction management and showing coordination through products such as Zillow Premier Agent and ShowingTime+.

Through Zillow Home Loans and other affiliated services, the company provides or facilitates mortgage and closing-related solutions.