Zillow Group (NASDAQ:Z) Upgraded by Mizuho to Strong-Buy Rating

Key Points

• Zillow Group was upgraded to a "strong-buy" rating by Mizuho, indicating increased confidence in the company's stock performance.
• Several analysts have improved their ratings on Zillow, with target prices rising to as much as $105.00, reflecting optimism about future growth.
• Insiders have sold a significant amount of stock recently, with the CFO selling 25,000 shares for around $2.25 million, raising questions about insider sentiment.

Zillow Group (NASDAQ:Z - Get Free Report) was upgraded by analysts at Mizuho to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts have also recently issued reports on Z. Sanford C. Bernstein upgraded Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 target price for the company in a report on Wednesday, September 17th. JPMorgan Chase & Co. increased their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Bank of America lifted their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $90.38.

Zillow Group Trading Down 4.3%

Shares of Zillow Group stock opened at $77.05 on Monday. The business's fifty day moving average price is $83.53 and its 200 day moving average price is $74.07. Zillow Group has a twelve month low of $57.00 and a twelve month high of $93.88. The stock has a market capitalization of $18.67 billion, a P/E ratio of -296.35, a PEG ratio of 22.43 and a beta of 2.04.

Insiders Place Their Bets

In other Zillow Group news, CFO Jeremy Hofmann sold 25,000 shares of Zillow Group stock in a transaction dated 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 of the company's stock, valued at $7,572,298.54. The trade was a 22.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director April Underwood sold 3,621 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $90.12, for a total value of $326,324.52. Following the completion of the transaction, the director owned 483 shares in the company, valued at $43,527.96. This represents a 88.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 657,087 shares of company stock valued at $56,286,479 over the last quarter. 23.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently made changes to their positions in Z. Wealth Enhancement Advisory Services LLC increased its holdings in Zillow Group by 46.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,033 shares of the financial services provider's stock worth $669,000 after buying an additional 2,879 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Zillow Group by 10,025.5% during the 1st quarter. GAMMA Investing LLC now owns 41,616 shares of the financial services provider's stock worth $2,853,000 after purchasing an additional 41,205 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Zillow Group by 141.8% during the 1st quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock worth $115,000 after purchasing an additional 984 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Zillow Group by 1.7% during the 1st quarter. Rhumbline Advisers now owns 182,624 shares of the financial services provider's stock valued at $12,521,000 after purchasing an additional 3,045 shares in the last quarter. Finally, Retirement Planning Group LLC acquired a new stake in shares of Zillow Group in the 1st quarter valued at $270,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Zillow Group

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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