Zillow Group, Inc. (NASDAQ:ZG) Receives $52.29 Average Target Price from Brokerages

Shares of Zillow Group, Inc. (NASDAQ:ZG) have earned a consensus rating of “Hold” from the twenty-five analysts that are covering the stock, MarketBeat Ratings reports. One 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 12 month price target among analysts that have issued a report on the stock in the last year is $53.1364.

ZG has been the topic of a number of recent research reports. DA Davidson reduced their price target on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. UBS Group lowered their price objective on shares of Zillow Group from $75.00 to $50.00 and set a “buy” rating for the company in a report on Friday, July 31st. KeyCorp reaffirmed an “overweight” rating and set a $48.00 target price on shares of Zillow Group in a report on Tuesday. Canaccord Genuity Group decreased their target price on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. Finally, Barclays decreased 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 research report on Friday, May 8th.

Insider Transactions at Zillow Group

In other news, insider Dan Spaulding sold 3,169 shares of Zillow Group stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the transaction, the insider owned 44,561 shares in the company, valued at approximately $1,576,122.57. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the sale, the chief financial officer directly owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. This trade represents a 8.74% decrease in their position. 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. In the last 90 days, insiders have sold 37,351 shares of company stock valued at $1,280,657. 29.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in Zillow Group by 10.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the technology company’s stock valued at $147,000 after acquiring an additional 198 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of Zillow Group by 0.4% during the fourth quarter. Lido Advisors LLC now owns 50,846 shares of the technology company’s stock valued at $3,627,000 after purchasing an additional 215 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in Zillow Group by 1.4% during the second quarter. Royal London Asset Management Ltd. now owns 18,217 shares of the technology company’s stock valued at $1,248,000 after purchasing an additional 247 shares during the period. Mackenzie Financial Corp lifted its position in Zillow Group by 8.5% during the third quarter. Mackenzie Financial Corp now owns 3,301 shares of the technology company’s stock valued at $246,000 after purchasing an additional 258 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in Zillow Group by 9.2% in the second quarter. California State Teachers Retirement System now owns 3,147 shares of the technology company’s stock worth $216,000 after purchasing an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Trading Down 3.0%

ZG opened at $35.98 on Monday. The stock has a 50-day moving average price of $33.49 and a 200-day moving average price of $38.84. Zillow Group has a 12-month low of $29.03 and a 12-month high of $90.22. The stock has a market capitalization of $8.09 billion, a P/E ratio of 163.55, a PEG ratio of 1.61 and a beta of 1.95.

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

About Zillow Group

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.