Zillow Group, Inc. (NASDAQ:ZG) Receives $71.24 Average PT from Brokerages

Zillow Group, Inc. (NASDAQ:ZG) has been assigned a consensus rating of “Hold” from the twenty-six brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $71.2381.

Several brokerages have recently commented on ZG. Robert W. Baird reduced their price objective on Zillow Group from $67.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Barclays reduced their price objective on 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. UBS Group reduced their price objective on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Citigroup reduced their price objective on Zillow Group from $78.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Finally, Evercore reiterated an “outperform” rating on shares of Zillow Group in a research report on Tuesday, March 17th.

Insider Buying and Selling at Zillow Group

In related news, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $37.97, for a total transaction of $111,593.83. Following the transaction, the insider directly owned 134,039 shares in the company, valued at $5,089,460.83. This trade represents a 2.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Bradley D. Owens sold 3,364 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. 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. Insiders sold 33,047 shares of company stock worth $1,246,715 over the last quarter. Company insiders own 29.88% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in Zillow Group during the 4th quarter worth approximately $152,050,000. Independent Franchise Partners LLP grew its position in Zillow Group by 1.1% during the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock worth $138,135,000 after acquiring an additional 21,862 shares during the last quarter. M&T Bank Corp grew 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 acquiring an additional 1,600,097 shares during the last quarter. Tiger Global Management LLC grew its position in Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock worth $69,849,000 after acquiring an additional 240,690 shares during the last quarter. Finally, UBS Group AG grew 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 acquiring an additional 313,643 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors.

Zillow Group Trading Down 1.0%

Shares of Zillow Group stock opened at $36.88 on Friday. The firm has a market capitalization of $8.44 billion, a PE ratio of 147.52, a price-to-earnings-growth ratio of 1.59 and a beta of 2.04. The business’s 50-day moving average price is $42.17 and its 200-day moving average price is $55.34. Zillow Group has a 12 month low of $35.11 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 EPS for the quarter, beating the consensus estimate 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 company’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. As a group, analysts predict that Zillow Group will post 0.9 earnings per share 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.