Zillow Group (NASDAQ:Z) Stock Price Up 5.8% - What's Next?

Key Points

• Zillow shares rose 5.8% to approximately $28.86, despite trading below both their 50-day ($32.58) and 200-day ($35.63) moving averages.
• Analyst sentiment remains cautious: Zillow has a consensus “Hold” rating, with seven Holds, five Buys, one Strong Buy and one Sell; the consensus price target is $61.29.
• Zillow exceeded quarterly expectations, reporting $0.52 EPS versus $0.45 expected and revenue of $772 million versus $758.1 million expected. Insiders sold shares primarily to cover tax obligations, while institutional investors own about 71% of the company.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) shares were up 5.8% during trading on Thursday. The stock traded as high as $28.73 and last traded at $28.8630. 2,441,613 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 4,128,993 shares. The stock had previously closed at $27.28.

Wall Street Analyst Weigh In

Several research firms have issued reports on Z. Evercore cut Zillow Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Weiss Ratings restated a "sell (d)" rating on shares of Zillow Group in a research report on Wednesday, August 19th. Wall Street Zen downgraded shares of Zillow Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Jefferies Financial Group decreased their price target on Zillow Group from $75.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods dropped their price objective on Zillow Group from $37.00 to $34.00 and set a "market perform" rating for the company in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $61.29.

Zillow Group Trading Up 5.7%

The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 130.87, a PEG ratio of 1.21 and a beta of 2.04. The company's 50 day simple moving average is $32.58 and its 200-day simple moving average is $35.63.

Zillow Group (NASDAQ:Z - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, beating 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 company had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. Sell-side analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current year.

Insider Buying and Selling

In other Zillow Group news, CTO David A. Beitel sold 1,798 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $61,563.52. Following the completion of the sale, the chief technology officer owned 133,013 shares of the company's stock, valued at $4,554,365.12. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,169 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the transaction, the insider directly owned 44,561 shares in the company, valued at approximately $1,576,122.57. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 38,539 shares of company stock worth $1,323,800 over the last 90 days. Company insiders own 25.03% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in Zillow Group by 34.5% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider's stock worth $80,000 after acquiring an additional 300 shares during the period. Leonteq Securities AG boosted its position in Zillow Group by 627.0% during the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider's stock worth $56,000 after acquiring an additional 1,160 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Zillow Group by 283.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider's stock worth $59,000 after acquiring an additional 1,045 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Zillow Group in the 2nd quarter worth $78,000. Finally, Rockefeller Capital Management L.P. lifted its stake in Zillow Group by 61.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,315 shares of the financial services provider's stock valued at $226,000 after purchasing an additional 1,267 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Zillow Group Company Profile

Zillow Group, Inc is a technology company that operates digital real estate marketplaces and related services in the United States. Its platforms help consumers search for homes to buy or rent, research neighborhoods and property values, connect with real estate professionals, and manage aspects of the transaction process.

The company's portfolio includes Zillow, Trulia, StreetEasy and HotPads, along with services such as Zillow Premier Agent, Zillow Rentals, ShowingTime+ and Zillow Home Loans.

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