Zillow Group, Inc. (NASDAQ:Z) Stock Has Consensus Target Price of $57.71 According to Brokerages

Zillow Group, Inc. (NASDAQ:Z) has received an average recommendation of “Hold” from the fifteen brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $57.71.

Z has been the subject of several research analyst reports. Jefferies Financial Group reduced their price objective on Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods dropped their target price on Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Zillow Group in a research report on Wednesday, August 19th. Finally, Morgan Stanley reduced their price target on shares of Zillow Group from $60.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th.

Zillow Group Stock Performance

NASDAQ Z opened at $32.98 on Friday. The firm’s 50 day moving average price is $31.61 and its two-hundred day moving average price is $34.69. Zillow Group has a twelve month low of $26.67 and a twelve month high of $79.40. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 149.92, a PEG ratio of 1.50 and a beta of 2.04.

Zillow Group (NASDAQ:Z) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The company had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. On average, research analysts forecast that Zillow Group will post 0.88 EPS for the current fiscal year.

Insider Activity at Zillow Group

In other news, insider Dan Spaulding sold 3,169 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the transaction, the insider directly owned 44,561 shares of the company’s stock, valued at approximately $1,576,122.57. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the sale, the chief financial officer 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. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 38,539 shares of company stock worth $1,323,800. 25.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in Z. Fortitude Family Office LLC bought a new stake in Zillow Group in the third quarter worth approximately $27,000. Root Financial Partners LLC bought a new position in shares of Zillow Group during the 3rd quarter valued at $34,000. Leonteq Securities AG raised its holdings in shares of Zillow Group by 627.0% during the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,160 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Zillow Group by 283.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Zillow Group in the 2nd quarter valued at $78,000. Institutional investors own 71.01% of the company’s stock.

About Zillow Group

Zillow Group, Inc (NASDAQ: Z) operates a digital real estate marketplace in the United States. Its platforms help consumers search for homes, research neighborhoods and market conditions, connect with real estate professionals, and manage various steps in the home-buying, selling, renting and financing processes.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, which provide property listings and real estate information. Zillow Group also offers services for real estate professionals, including marketing, lead generation, transaction management and showing coordination through products such as Zillow Premier Agent and ShowingTime+.

Through Zillow Home Loans and other affiliated services, the company provides or facilitates mortgage and closing-related solutions.