Zillow Group, Inc. (NASDAQ:ZG) Given Consensus Rating of “Hold” by Brokerages

Zillow Group, Inc. (NASDAQ:ZG) has received an average rating of “Hold” from the twenty-six research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $69.4286.

A number of research analysts recently issued reports on the stock. Mizuho dropped their price objective on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Barclays reduced their target price on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. The Goldman Sachs Group decreased their price target on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, June 12th. Canaccord Genuity Group cut their price target on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, May 7th. Finally, Evercore reiterated an “outperform” rating on shares of Zillow Group in a report on Tuesday, March 17th.

Zillow Group Price Performance

Shares of ZG opened at $33.42 on Friday. The stock has a market cap of $7.65 billion, a PE ratio of 133.68, a PEG ratio of 1.43 and a beta of 1.95. Zillow Group has a 12-month low of $29.03 and a 12-month high of $90.22. The business has a 50-day simple moving average of $36.64 and a two-hundred day simple moving average of $47.57.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. On average, equities research analysts expect that Zillow Group will post 0.9 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 5,501 shares of Zillow Group stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $205,737.40. Following the transaction, the chief financial officer directly owned 68,315 shares of the company’s stock, valued at approximately $2,554,981. The trade was a 7.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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, CEO Jeremy Wacksman sold 9,072 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the sale, the chief executive officer owned 153,699 shares in the company, valued at $5,616,161.46. This trade represents a 5.57% decrease in their position. 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. Insiders sold 42,910 shares of company stock worth $1,605,732 over the last 90 days. Company insiders own 29.88% of the company’s stock.

Institutional Trading of Zillow Group

Several institutional investors have recently added to or reduced their stakes in the stock. Tabor Asset Management LP acquired a new position in shares of Zillow Group in the 3rd quarter worth approximately $2,428,000. M&T Bank Corp increased its position in shares of Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after buying an additional 1,600,097 shares during the period. Emmett Investment Management LP acquired a new stake in shares of Zillow Group during the third quarter worth $2,860,000. Polianta Ltd bought a new position in Zillow Group during the first quarter worth $1,494,000. Finally, Independent Franchise Partners LLP raised its stake in Zillow Group by 1.1% during the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock worth $138,135,000 after buying an additional 21,862 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.