Zillow Group's (ZG) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Zillow Group's stock has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, while other analysts, such as Zelman & Associates and Royal Bank of Canada, have upgraded their ratings to "hold" and "outperform," respectively.
• The company's latest earnings report showed a miss on earnings per share at $0.40 compared to the consensus estimate of $0.44, although revenue increased by 14.5% year-over-year.
• Zillow Group has faced significant insider selling, with executives, including the CFO, offloading a combined total of over 657,000 shares recently.

Zillow Group (NASDAQ:ZG - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Other analysts also recently issued research reports about the company. Zelman & Associates upgraded Zillow Group to a "hold" rating in a research note on Friday, August 8th. Royal Bank Of Canada upped their price target on Zillow Group from $88.00 to $95.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Piper Sandler upped their price target on Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. DA Davidson restated a "buy" rating and set a $95.00 target price on shares of Zillow Group in a research note on Thursday, October 2nd. Finally, Susquehanna restated a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.92.

Zillow Group Stock Performance

NASDAQ:ZG traded up $0.82 during trading hours on Friday, hitting $75.40. 322,730 shares of the company's stock traded hands, compared to its average volume of 574,651. Zillow Group has a twelve month low of $55.08 and a twelve month high of $90.22. The stock's fifty day moving average price is $77.80 and its two-hundred day moving average price is $72.31. The firm has a market cap of $18.27 billion, a P/E ratio of -290.10, a P/E/G ratio of 25.30 and a beta of 2.11.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.06 million. Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The business's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. On average, equities research analysts predict that Zillow Group will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Erik C. Blachford sold 966 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $81.91, for a total value of $79,125.06. Following the completion of the transaction, the director directly owned 34,508 shares of the company's stock, valued at approximately $2,826,550.28. This represents a 2.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeremy Hofmann sold 25,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $89.99, for a total value of $2,249,750.00. Following the completion of the transaction, the chief financial officer directly owned 84,146 shares of the company's stock, valued at approximately $7,572,298.54. The trade was a 22.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 657,087 shares of company stock worth $56,286,479. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Zillow Group in the 3rd quarter worth approximately $930,000. Capital Advisors Wealth Management LLC acquired a new stake in shares of Zillow Group in the 3rd quarter valued at $204,000. Optas LLC bought a new position in shares of Zillow Group in the 3rd quarter worth $209,000. Vontobel Holding Ltd. grew its stake in shares of Zillow Group by 2.2% during the third quarter. Vontobel Holding Ltd. now owns 13,711 shares of the technology company's stock worth $1,021,000 after purchasing an additional 293 shares during the period. Finally, Fiduciary Financial Group LLC acquired a new stake in shares of Zillow Group during the third quarter worth $731,000. 20.32% of the stock is owned by institutional investors and hedge funds.

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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