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

Zillow Group, Inc. (NASDAQ:ZG) has received a consensus recommendation of “Hold” from the twenty-five analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $53.1364.

Several analysts have commented on the stock. Cantor Fitzgerald decreased their price objective on shares of Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Piper Sandler lowered their target price on Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. DA Davidson decreased their price target on Zillow Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $80.00 target price on shares of Zillow Group in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th.

Zillow Group Stock Up 0.7%

ZG stock opened at $36.61 on Monday. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 166.42, a price-to-earnings-growth ratio of 1.58 and a beta of 1.95. Zillow Group has a twelve month low of $29.03 and a twelve month high of $90.22. The firm’s fifty day simple moving average is $33.65 and its two-hundred day simple moving average is $38.70.

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

Insider Activity at Zillow Group

In related news, insider Dan Spaulding sold 3,169 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.37, for a total transaction of $112,087.53. Following the transaction, the insider owned 44,561 shares of the company’s stock, valued at approximately $1,576,122.57. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of Zillow Group 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 transaction, the chief executive officer owned 138,574 shares in the company, valued at approximately $4,736,459.32. This trade represents a 6.31% 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. Insiders sold 37,351 shares of company stock valued at $1,280,657 in the last 90 days. 29.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Large investors have recently made changes to their positions in the company. Arax Advisory Partners boosted its position in shares of Zillow Group by 402.3% during the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after purchasing an additional 354 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in shares of Zillow Group during the 4th quarter worth about $34,000. Kestra Advisory Services LLC acquired a new stake in shares of Zillow Group in the 4th quarter valued at $47,000. Quarry LP acquired a new position in Zillow Group during the fourth quarter valued at approximately $56,000. Finally, Global Retirement Partners LLC lifted its position in shares of Zillow Group by 4,130.0% during the 4th quarter. Global Retirement Partners LLC now owns 846 shares of the technology company’s stock worth $58,000 after purchasing an additional 826 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.