Zillow Group, Inc. (NASDAQ:ZG) Given Average Recommendation of “Hold” by Analysts

Zillow Group, Inc. (NASDAQ:ZG) has been given an average rating of “Hold” by the twenty-five ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $53.1364.

ZG has been the topic of several analyst reports. DA Davidson reduced their price objective on Zillow Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Benchmark restated a “buy” rating on shares of Zillow Group in a research report on Monday, August 24th. Piper Sandler dropped their price objective on shares of Zillow Group from $55.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Citigroup cut their price objective on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th.

Insider Activity

In related news, CEO Jeremy Wacksman sold 9,339 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $319,207.02. Following the transaction, the chief executive officer directly owned 138,574 shares in the company, valued at approximately $4,736,459.32. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Errol Samuelson sold 3,154 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $107,992.96. Following the completion of the sale, the insider directly owned 130,885 shares in the company, valued at $4,481,502.40. This trade represents a 2.35% decrease in their ownership of the stock. 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. Insiders sold 38,539 shares of company stock worth $1,323,800 in the last 90 days. Company insiders own 29.88% of the company’s stock.

Institutional Trading of Zillow Group

A number of large investors have recently made changes to their positions in ZG. Integrated Wealth Concepts LLC purchased a new position in Zillow Group during the second quarter valued at approximately $29,000. First Command Advisory Services Inc. bought a new stake in Zillow Group during the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC boosted its position in Zillow Group by 183.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after acquiring an additional 637 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after acquiring an additional 921 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of Zillow Group by 4,130.0% in the 4th quarter. Global Retirement Partners LLC now owns 846 shares of the technology company’s stock valued at $58,000 after acquiring an additional 826 shares during the period. 20.32% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Stock Performance

ZG stock opened at $31.59 on Friday. The firm has a fifty day moving average price of $34.15 and a 200 day moving average price of $37.16. Zillow Group has a fifty-two week low of $29.03 and a fifty-two week high of $79.00. The firm has a market cap of $7.10 billion, a PE ratio of 143.60, a price-to-earnings-growth ratio of 1.36 and a beta of 1.97.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The company had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.25 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Zillow Group’s revenue was up 17.9% on a year-over-year basis. On average, equities analysts predict that Zillow Group will post 0.89 EPS for the current year.

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers and real estate professionals. Its flagship Zillow platform provides property listings, home-value estimates, neighborhood information, mortgage resources and tools that help people buy, sell, rent and finance homes.

The company’s portfolio also includes Trulia, StreetEasy, HotPads and Zillow Rentals, which serve home shoppers and renters in markets across the United States.