Zillow Group, Inc. (NASDAQ:Z) Stock Has Consensus Price Target of $61.29 According to Brokerages

Shares of Zillow Group, Inc. (NASDAQ:Z) have received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $61.29.

A number of brokerages have weighed in on Z. Keefe, Bruyette & Woods reduced their price objective on Zillow Group from $37.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Royal Bank Of Canada cut their target price on shares of Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, June 10th. Jefferies Financial Group cut their target price on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Finally, Evercore cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th.

Insider Buying and Selling

In related news, CTO David A. Beitel sold 1,798 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $61,563.52. Following the transaction, the chief technology officer owned 133,013 shares in the company, valued at $4,554,365.12. The trade was a 1.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,661 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the sale, the chief financial officer directly owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. This represents a 8.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 38,539 shares of company stock valued at $1,323,800 in the last quarter. Corporate insiders own 25.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of Z. Leonteq Securities AG raised its stake in shares of Zillow Group by 627.0% during the first quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,160 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Zillow Group by 283.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $59,000 after buying an additional 1,045 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new position in Zillow Group in the 4th quarter valued at $71,000. Integrated Wealth Concepts LLC acquired a new position in Zillow Group in the 2nd quarter valued at $78,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in Zillow Group by 34.5% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock valued at $80,000 after buying an additional 300 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $28.14 on Tuesday. Zillow Group has a 12 month low of $27.64 and a 12 month high of $81.56. The firm has a market capitalization of $6.33 billion, a P/E ratio of 127.91, a P/E/G ratio of 1.35 and a beta of 2.00. The company’s fifty day moving average price is $33.42 and its 200 day moving average price is $36.68.

Zillow Group (NASDAQ:Z) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. On average, sell-side analysts anticipate 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 designed to help consumers discover, buy, sell, rent and finance homes. Its websites and mobile applications provide property listings, home values, market data, search tools and connections to real estate professionals.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, which serve residential real estate consumers and professionals across the United States.