Zillow Group (NASDAQ:Z) Trading 6.8% Higher – Time to Buy?

Shares of Zillow Group, Inc. (NASDAQ:Z) were up 6.8% during trading on Wednesday . The company traded as high as $34.03 and last traded at $34.0180. Approximately 947,925 shares changed hands during trading, a decline of 78% from the average daily volume of 4,274,018 shares. The stock had previously closed at $31.86.

Key Stories Impacting Zillow Group

Here are the key news stories impacting Zillow Group this week:

• Negative Sentiment: Multiple law firms, including Rosen, Bragar Eagel & Squire, Pomerantz, Bernstein Liebhard, Faruqi & Faruqi, and BFA Law, announced or reminded investors about a securities fraud class action against Zillow Group, signaling growing legal risk and continued negative attention on the stock. Article Title
• Neutral Sentiment: Zillow’s own research showed the U.S. housing deficit held steady at 4.7 million homes in 2024, with strong multifamily construction helping slow the shortage’s growth; while this underscores a persistent structural housing challenge, the article does not directly change Zillow’s near-term financial outlook. Article Title

Analyst Ratings Changes

A number of brokerages recently weighed in on Z. Deutsche Bank Aktiengesellschaft reduced their target price on Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Jefferies Financial Group dropped their price target on Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday. Zacks Research upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Wall Street Zen raised Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Keefe, Bruyette & Woods decreased their target price on Zillow Group from $50.00 to $37.00 and set a “market perform” rating for the company in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.38.

Zillow Group Stock Performance

The stock’s fifty day moving average is $34.33 and its two-hundred day moving average is $45.28. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 136.32, a price-to-earnings-growth ratio of 1.45 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Sell-side analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CEO Jeremy Wacksman sold 9,072 shares of Zillow Group stock in a transaction that occurred on Friday, May 22nd. The stock was 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 in the company, valued at $5,616,161.46. The trade was a 5.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erik C. Blachford sold 791 shares of Zillow Group stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $34.80, for a total value of $27,526.80. Following the sale, the director owned 34,952 shares in the company, valued at $1,216,329.60. This represents a 2.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 42,910 shares of company stock valued at $1,605,732. Company insiders own 25.03% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in Z. M&T Bank Corp bought a new stake in shares of Zillow Group in the fourth quarter worth $196,677,000. Scge Management L.P. bought a new position in Zillow Group during the 3rd quarter valued at $133,990,000. L1 Capital Pty Ltd boosted its stake in Zillow Group by 24,803.7% during the 4th quarter. L1 Capital Pty Ltd now owns 1,729,313 shares of the financial services provider’s stock valued at $117,974,000 after acquiring an additional 1,722,369 shares during the last quarter. Tiger Global Management LLC grew its holdings in Zillow Group by 21.7% during the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock worth $304,927,000 after acquiring an additional 1,312,000 shares in the last quarter. Finally, Soma Equity Partners LP grew its holdings in Zillow Group by 389.5% during the 3rd quarter. Soma Equity Partners LP now owns 1,468,492 shares of the financial services provider’s stock worth $113,147,000 after acquiring an additional 1,168,492 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

About Zillow Group

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.