Zillow Group (NASDAQ:Z) Now Covered by Analysts at Oppenheimer

Key Points

• Oppenheimer has initiated coverage of Zillow Group, assigning it a "market perform" rating amid recent fluctuations in analyst ratings, which range from "strong buy" to "sell".
• Zillow Group's stock price recently fell by 3.0%, reaching $74.47, with a market capitalization of $18.04 billion and a current average target price set at $90.38.
• Insider selling has been notable, with key executives including the CFO selling thousands of shares recently, reflecting a combined ownership decrease of notable proportions.

Equities researchers at Oppenheimer began coverage on shares of Zillow Group (NASDAQ:Z - Get Free Report) in a research report issued on Monday,Benzinga reports. The firm set a "market perform" rating on the financial services provider's stock.

Other analysts have also recently issued reports about the stock. Mizuho upgraded shares of Zillow Group to a "strong-buy" rating in a research note on Monday, September 29th. Bank of America upped their price objective on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zillow Group in a report on Saturday, September 27th. Sanford C. Bernstein raised shares of Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price objective on the stock in a report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Zillow Group currently has a consensus rating of "Moderate Buy" and an average target price of $90.38.

Zillow Group Stock Down 3.0%

Shares of Zillow Group stock traded down $2.32 on Monday, reaching $74.47. The stock had a trading volume of 833,566 shares, compared to its average volume of 2,718,738. The company has a 50 day moving average price of $83.19 and a 200 day moving average price of $74.19. Zillow Group has a 1 year low of $57.00 and a 1 year high of $93.88. The stock has a market capitalization of $18.04 billion, a P/E ratio of -286.83, a P/E/G ratio of 21.38 and a beta of 2.13.

Insider Transactions at Zillow Group

In other Zillow Group news, Director April Underwood sold 3,621 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $90.12, for a total value of $326,324.52. Following the transaction, the director directly owned 483 shares in the company, valued at $43,527.96. This represents a 88.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the transaction, the chief financial officer owned 84,146 shares in the company, valued at approximately $7,572,298.54. This trade represents a 22.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 657,087 shares of company stock valued at $56,286,479 over the last quarter. Insiders own 23.76% of the company's stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Zillow Group by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 23,002,526 shares of the financial services provider's stock valued at $1,611,327,000 after buying an additional 412,571 shares during the last quarter. Independent Franchise Partners LLP grew its position in Zillow Group by 2.5% in the 1st quarter. Independent Franchise Partners LLP now owns 11,153,697 shares of the financial services provider's stock valued at $764,697,000 after buying an additional 271,084 shares during the last quarter. Ninety One UK Ltd lifted its holdings in Zillow Group by 17.4% in the second quarter. Ninety One UK Ltd now owns 4,731,948 shares of the financial services provider's stock valued at $331,473,000 after acquiring an additional 702,445 shares during the period. Eminence Capital LP lifted its holdings in Zillow Group by 63.6% in the second quarter. Eminence Capital LP now owns 3,978,731 shares of the financial services provider's stock valued at $278,710,000 after acquiring an additional 1,546,577 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Zillow Group by 2.3% in the second quarter. Geode Capital Management LLC now owns 3,142,403 shares of the financial services provider's stock valued at $219,467,000 after acquiring an additional 69,630 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 real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.

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