Zillow Group, Inc. (NASDAQ:Z) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Zillow Group, Inc. (NASDAQ:Z) have received an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $76.00.

Z has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wall Street Zen raised shares of Zillow Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. reduced their price objective on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada reduced their price objective on shares of Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 10th.

Zillow Group Price Performance

Shares of NASDAQ Z opened at $32.11 on Friday. Zillow Group has a 52 week low of $31.48 and a 52 week high of $93.88. The firm’s fifty day moving average is $38.84 and its 200 day moving average is $50.72. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 128.44, a PEG ratio of 1.37 and a beta of 1.97.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. Equities research analysts anticipate that Zillow Group will post 0.9 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 5,501 shares of the business’s stock in a transaction on Monday, May 18th. The shares were 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 document filed with the Securities & Exchange Commission, 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, insider Dan Spaulding sold 3,078 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $37.40, for a total transaction of $115,117.20. Following the transaction, the insider directly owned 49,696 shares in the company, valued at approximately $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 quarter, insiders sold 42,910 shares of company stock worth $1,605,732. 25.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Lansforsakringar Fondforvaltning AB publ boosted its position in Zillow Group by 0.3% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 48,575 shares of the financial services provider’s stock valued at $3,743,000 after purchasing an additional 144 shares in the last quarter. Empowered Funds LLC boosted its position in Zillow Group by 4.7% during the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 171 shares in the last quarter. Doliver Advisors LP boosted its holdings in Zillow Group by 1.8% in the fourth quarter. Doliver Advisors LP now owns 9,687 shares of the financial services provider’s stock worth $661,000 after acquiring an additional 171 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Zillow Group by 21.4% in the fourth quarter. GAMMA Investing LLC now owns 1,186 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 209 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Zillow Group by 3.0% in the fourth quarter. CIBC Asset Management Inc now owns 7,550 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 220 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.