Zillow Group, Inc. (NASDAQ:ZG) Given Consensus Rating of “Hold” by Brokerages

Zillow Group, Inc. (NASDAQ:ZGGet Free Report) has received an average rating of “Hold” from the twenty-five brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $53.1364.

A number of brokerages have recently weighed in on ZG. BTIG Research reissued a “neutral” rating on shares of Zillow Group in a report on Thursday, June 11th. Piper Sandler reduced their target price on shares of Zillow Group from $55.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Sanford C. Bernstein cut Zillow Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $50.00 to $38.00 in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Finally, Citizens Jmp decreased their price objective on shares of Zillow Group from $75.00 to $46.00 and set a “market outperform” rating for the company in a research report on Friday, August 7th.

Check Out Our Latest Analysis on Zillow Group

Insider Activity

In other news, CEO Jeremy Wacksman sold 9,339 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $319,207.02. Following the completion of the sale, the chief executive officer owned 138,574 shares of the company’s stock, valued at $4,736,459.32. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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, CFO Jeremy Hofmann sold 5,661 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the transaction, the chief financial officer owned 59,144 shares in the company, valued at approximately $2,021,541.92. This represents a 8.74% 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 37,351 shares of company stock valued at $1,280,657 in the last three months. Company insiders own 29.88% of the company’s stock.

Institutional Trading of Zillow Group

Several institutional investors have recently added to or reduced their stakes in the stock. Technology Crossover Management XI Ltd. purchased a new position in Zillow Group during the 2nd quarter valued at about $73,694,895. Norges Bank acquired a new stake in Zillow Group during the 4th quarter worth approximately $152,050,000. Independent Franchise Partners LLP lifted its holdings 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 buying an additional 21,862 shares in the last quarter. California State Teachers Retirement System boosted its position in Zillow Group by 56,236.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,485,024 shares of the technology company’s stock valued at $47,339,000 after buying an additional 1,482,388 shares during the period. Finally, Kahn Brothers Group Inc. purchased a new position in Zillow Group in the 2nd quarter valued at approximately $37,265,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Price Performance

NASDAQ ZG opened at $36.61 on Monday. The firm has a market cap of $8.23 billion, a PE ratio of 166.42, a price-to-earnings-growth ratio of 1.59 and a beta of 1.95. Zillow Group has a 52 week low of $29.03 and a 52 week high of $90.22. The company has a 50 day moving average price of $33.65 and a 200 day moving average price of $38.59.

Zillow Group (NASDAQ:ZGGet Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. On average, equities research analysts anticipate that Zillow Group will post 0.89 earnings per share for the current fiscal year.

About Zillow Group

(Get Free Report)

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.

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Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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