Zillow Group, Inc. (NASDAQ:ZG) Receives $69.48 Consensus PT from Analysts

Zillow Group, Inc. (NASDAQ:ZG) has been assigned a consensus rating of “Moderate Buy” from the twenty-six analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $68.2857.

Several brokerages have weighed in on ZG. Royal Bank Of Canada cut their price target on Zillow Group to $70.00 and set an “outperform” rating for the company in a report on Wednesday, June 10th. KeyCorp decreased their price objective on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Zacks Research raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Wells Fargo & Company upped their target price on Zillow Group from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Finally, Sanford C. Bernstein upgraded Zillow Group from an “outperform” rating to a “buy” rating in a research report on Tuesday, May 26th.

Zillow Group Price Performance

Shares of NASDAQ ZG opened at $34.69 on Thursday. The company has a 50-day simple moving average of $33.23 and a 200-day simple moving average of $42.65. The company has a market cap of $7.94 billion, a PE ratio of 138.76, a price-to-earnings-growth ratio of 1.48 and a beta of 1.95. Zillow Group has a 12 month low of $29.03 and a 12 month high of $90.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating 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 business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.17 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, analysts anticipate that Zillow Group will post 0.9 EPS for the current year.

Insider Buying and Selling

In other news, General Counsel Bradley D. Owens sold 3,364 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $37.23, for a total transaction of $125,241.72. Following the transaction, the general counsel directly owned 65,245 shares in the company, valued at $2,429,071.35. This represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the sale, the chief executive officer directly owned 153,699 shares in the company, valued at $5,616,161.46. This represents a 5.57% 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. Insiders have sold 42,910 shares of company stock worth $1,605,732 over the last ninety days. Insiders own 29.88% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Zillow Group in the 4th quarter valued at about $152,050,000. M&T Bank Corp increased its position in Zillow Group by 38,344.0% during the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after purchasing an additional 1,600,097 shares in the last quarter. UBS Group AG increased its position in Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock worth $69,489,000 after purchasing an additional 313,643 shares in the last quarter. Tiger Global Management LLC raised its holdings in Zillow Group by 30.7% in the fourth quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after buying an additional 240,690 shares during the period. Finally, Virtu Financial LLC raised its holdings in Zillow Group by 271.9% in the third quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock valued at $21,864,000 after buying an additional 214,743 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.