Zillow Group (NASDAQ:Z) Price Target Cut to $37.00 by Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut Zillow Group’s price target from $50 to $37 and kept a market perform rating, implying about 14.25% upside from the current price.
• Other analysts remain mixed, but the broader view is still relatively constructive: MarketBeat shows an average rating of Moderate Buy with an average price target of $74.14.
• Zillow reported better-than-expected quarterly earnings, while recent insider selling included CEO Jeremy Wacksman and others, with insiders selling 42,910 shares over the past 90 days.

Zillow Group (NASDAQ:Z - Get Free Report) had its price target dropped by stock analysts at Keefe, Bruyette & Woods from $50.00 to $37.00 in a report released on Monday,Benzinga reports. The firm presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 14.25% from the company's current price.

Several other analysts have also weighed in on the company. Royal Bank Of Canada cut their price objective on Zillow Group from $95.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Zillow Group from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Zacks Research upgraded shares of Zillow Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. UBS Group dropped their target price on shares of Zillow Group from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. Finally, Weiss Ratings lowered shares of Zillow Group from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $74.14.

Zillow Group Trading Up 0.6%

Shares of NASDAQ Z opened at $32.38 on Monday. Zillow Group has a 12-month low of $29.23 and a 12-month high of $93.88. The stock's 50 day simple moving average is $35.21 and its 200 day simple moving average is $46.30. The company has a market cap of $7.41 billion, a price-to-earnings ratio of 129.84, a price-to-earnings-growth ratio of 1.38 and a beta of 1.98.

Zillow Group (NASDAQ:Z - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm had revenue of $708.00 million for the quarter, compared to analysts' expectations of $705.10 million. As a group, equities analysts forecast that Zillow Group will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In other Zillow Group news, CEO Jeremy Wacksman sold 9,072 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88. Following the sale, the chief executive officer directly owned 153,699 shares of the company's stock, valued at $5,616,161.46. The trade was a 5.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Errol G. Samuelson sold 2,939 shares of Zillow Group stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total value of $111,593.83. Following the transaction, the insider owned 134,039 shares in the company, valued at $5,089,460.83. This represents a 2.15% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 42,910 shares of company stock worth $1,605,732. 23.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in Z. V Square Quantitative Management LLC acquired a new stake in shares of Zillow Group during the 4th quarter valued at $28,000. Flagship Harbor Advisors LLC acquired a new position in shares of Zillow Group in the fourth quarter worth $43,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Zillow Group during the fourth quarter worth $68,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Zillow Group during the fourth quarter worth $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position 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 valued at $80,000 after purchasing an additional 300 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company's platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company's automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.