Zillow Group, Inc. (NASDAQ:ZG) Receives $69.48 Average Target Price from Analysts

Zillow Group, Inc. (NASDAQ:ZG) has been given a consensus recommendation of “Moderate Buy” by the twenty-six ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $67.9048.

A number of brokerages recently issued reports on ZG. Citigroup reiterated a “market outperform” rating on shares of Zillow Group in a research report on Tuesday, May 26th. BTIG Research restated a “neutral” rating on shares of Zillow Group in a research report on Thursday, June 11th. Sanford C. Bernstein raised shares of Zillow Group from an “outperform” rating to a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings lowered shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Finally, The Goldman Sachs Group cut their target price on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, June 12th.

Insider Transactions at Zillow Group

In other Zillow Group news, General Counsel Bradley D. Owens sold 3,364 shares of Zillow Group stock in a transaction on Friday, May 15th. The stock was sold at an average price of $37.23, for a total value of $125,241.72. Following the completion of the transaction, the general counsel owned 65,245 shares in the company, valued at approximately $2,429,071.35. The trade was a 4.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the completion of the transaction, the insider directly owned 49,696 shares in the company, valued at approximately $1,858,630.40. This represents a 5.83% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 42,910 shares of company stock worth $1,605,732. 29.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Arax Advisory Partners raised its stake in shares of Zillow Group by 402.3% in the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after acquiring an additional 354 shares during the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Zillow Group during the fourth quarter valued at approximately $34,000. Kestra Advisory Services LLC bought a new stake in shares of Zillow Group during the fourth quarter valued at approximately $47,000. Quarry LP acquired a new stake in shares of Zillow Group in the fourth quarter valued at approximately $56,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Zillow Group by 4,130.0% in the fourth quarter. Global Retirement Partners LLC now owns 846 shares of the technology company’s stock valued at $58,000 after purchasing an additional 826 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Price Performance

Shares of NASDAQ:ZG opened at $35.80 on Thursday. The business’s fifty day moving average price is $33.20 and its two-hundred day moving average price is $42.26. Zillow Group has a fifty-two week low of $29.03 and a fifty-two week high of $90.22. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 143.20, a price-to-earnings-growth ratio of 1.48 and a beta of 1.95.

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