Zillow Group (NASDAQ:Z) Downgraded to Sell at BidaskClub

BidaskClub cut shares of Zillow Group (NASDAQ:Z) from a hold rating to a sell rating in a research report sent to investors on Saturday morning, BidAskClub reports.

A number of other research firms also recently commented on Z. Morgan Stanley decreased their price objective on shares of Zillow Group from $39.00 to $37.00 and set an equal weight rating on the stock in a report on Thursday, August 8th. TheStreet cut shares of Zillow Group from a c- rating to a d+ rating in a research report on Wednesday, September 4th. ValuEngine upgraded shares of Zillow Group from a hold rating to a buy rating in a research report on Thursday, August 1st. Standpoint Research cut shares of Zillow Group from a buy rating to a hold rating in a research report on Tuesday, July 16th. Finally, KeyCorp cut their target price on shares of Zillow Group from $66.00 to $65.00 and set an overweight rating for the company in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $41.26.

Shares of NASDAQ:Z opened at $32.21 on Friday. The firm’s 50-day simple moving average is $37.34 and its 200-day simple moving average is $40.17. The company has a quick ratio of 2.76, a current ratio of 3.67 and a debt-to-equity ratio of 0.28. Zillow Group has a fifty-two week low of $26.38 and a fifty-two week high of $51.47.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.21). The company had revenue of $599.58 million for the quarter. Zillow Group had a negative return on equity of 5.12% and a negative net margin of 13.49%.

In other Zillow Group news, CAO Jennifer Rock sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $35.73, for a total transaction of $69,673.50. Following the completion of the sale, the chief accounting officer now directly owns 35,105 shares in the company, valued at $1,254,301.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Spencer M. Rascoff sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $34.15, for a total transaction of $68,300.00. Following the sale, the director now owns 14,000 shares of the company’s stock, valued at $478,100. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,441 shares of company stock valued at $6,017,205. 19.87% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in Z. Technology Crossover Management IX Ltd. grew its stake in Zillow Group by 221.0% during the second quarter. Technology Crossover Management IX Ltd. now owns 3,047,614 shares of the financial services provider’s stock worth $141,379,000 after buying an additional 2,098,211 shares during the period. SRS Investment Management LLC grew its stake in Zillow Group by 35.4% during the second quarter. SRS Investment Management LLC now owns 5,960,740 shares of the financial services provider’s stock worth $276,519,000 after buying an additional 1,556,872 shares during the period. Artal Group S.A. grew its stake in Zillow Group by 900.0% during the second quarter. Artal Group S.A. now owns 1,000,000 shares of the financial services provider’s stock worth $46,390,000 after buying an additional 900,000 shares during the period. Think Investments LP purchased a new position in shares of Zillow Group in the second quarter valued at $34,601,000. Finally, Nikko Asset Management Americas Inc. boosted its stake in shares of Zillow Group by 21.4% in the second quarter. Nikko Asset Management Americas Inc. now owns 3,581,222 shares of the financial services provider’s stock valued at $166,133,000 after purchasing an additional 630,880 shares during the period. Institutional investors own 69.23% of the company’s stock.

About Zillow Group

Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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Analyst Recommendations for Zillow Group (NASDAQ:Z)

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