Zillow Group, Inc. (NASDAQ:ZG) Receives Consensus Rating of “Hold” from Analysts

Shares of Zillow Group, Inc. (NASDAQ:ZG) have been given an average rating of “Hold” by the twenty-six analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $69.4286.

A number of analysts recently weighed in on the stock. Mizuho lowered their price objective on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. The Goldman Sachs Group lowered their price objective 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. Piper Sandler decreased their price target on shares of Zillow Group from $70.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Wells Fargo & Company decreased their price target on shares of Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th.

Zillow Group Stock Performance

Shares of ZG opened at $32.22 on Wednesday. The firm has a market capitalization of $7.37 billion, a P/E ratio of 128.88, a P/E/G ratio of 1.38 and a beta of 1.95. Zillow Group has a 12-month low of $31.83 and a 12-month high of $90.22. The firm has a fifty day moving average price of $39.93 and a 200-day moving average price of $51.68.

Zillow Group (NASDAQ:ZG) last issued its earnings results 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. The firm had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The business’s revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. Analysts predict that Zillow Group will post 0.9 earnings per share for the current year.

Insider Activity

In related news, CFO Jeremy Hofmann sold 5,501 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $205,737.40. Following the transaction, the chief financial officer owned 68,315 shares in the company, valued at approximately $2,554,981. This represents a 7.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 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 transaction, the chief executive officer owned 153,699 shares in the company, valued at approximately $5,616,161.46. This trade represents a 5.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 42,910 shares of company stock valued at $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 and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in shares of Zillow Group by 6.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,071 shares of the technology company’s stock worth $458,000 after purchasing an additional 699 shares during the period. Edgestream Partners L.P. purchased a new position in Zillow Group in the 1st quarter valued at $398,000. EverSource Wealth Advisors LLC lifted its holdings in Zillow Group by 183.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after purchasing an additional 637 shares in the last quarter. Empowered Funds LLC lifted its holdings in Zillow Group by 60.3% in the 1st quarter. Empowered Funds LLC now owns 10,060 shares of the technology company’s stock valued at $416,000 after purchasing an additional 3,784 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Zillow Group by 106.6% in the 1st quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company’s stock valued at $7,287,000 after purchasing an additional 90,858 shares in the last quarter. Institutional investors and hedge funds 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.