Zillow Group, Inc. (NASDAQ:ZG) Stock Has Consensus Target Price of $51.19 According to Brokerages

Zillow Group, Inc. (NASDAQ:ZG) has earned a consensus rating of “Hold” from the twenty-three research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $51.19.

Several brokerages recently issued reports on ZG. Piper Sandler reduced their price objective on shares of Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Citigroup lowered their target price on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $80.00 target price on shares of Zillow Group in a research note on Monday, August 24th. Wells Fargo & Company set a $21.00 price target on Zillow Group in a report on Monday. Finally, DA Davidson reduced their price target 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.

Insider Buying and Selling at Zillow Group

In related news, CEO Jeremy Wacksman sold 9,339 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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, Director Erik C. Blachford sold 792 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total value of $28,282.32. Following the transaction, the director owned 34,160 shares in the company, valued at $1,219,853.60. This trade represents a 2.27% 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. Over the last ninety days, insiders have sold 38,539 shares of company stock valued at $1,323,800. 29.88% of the stock is currently owned by insiders.

Institutional Trading of Zillow Group

Hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its stake in shares of Zillow Group by 724.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 406,398 shares of the technology company’s stock valued at $11,257,000 after acquiring an additional 357,104 shares during the last quarter. Ninety One UK Ltd purchased a new position in shares of Zillow Group during the 3rd quarter worth about $548,000. Ninety One SA Pty Ltd purchased a new position in shares of Zillow Group during the 3rd quarter worth about $26,000. Tidal Investments LLC acquired a new stake in shares of Zillow Group in the second quarter worth approximately $436,000. Finally, Engineers Gate Manager LP boosted its position in shares of Zillow Group by 1,290.7% in the second quarter. Engineers Gate Manager LP now owns 95,959 shares of the technology company’s stock worth $3,010,000 after acquiring an additional 89,059 shares during the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Stock Up 10.8%

ZG opened at $32.43 on Tuesday. The firm has a market cap of $7.29 billion, a P/E ratio of 147.42, a PEG ratio of 1.27 and a beta of 2.02. Zillow Group has a 52 week low of $27.25 and a 52 week high of $76.32. The business’s fifty day simple moving average is $32.58 and its 200 day simple moving average is $35.37.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.25 million. During the same quarter last year, the business posted $0.40 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, equities analysts expect that Zillow Group will post 0.89 EPS for the current fiscal 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 buy, sell, rent and finance homes. Founded in 2006 and headquartered in Seattle, Washington, the company serves the U.S. residential real estate market through a portfolio of well-known brands.

Its flagship Zillow platform provides home listings, property information, estimated home values through its Zestimate tool, rental listings, mortgage resources and connections to real estate professionals.