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

Shares of Zillow Group, Inc. (NASDAQ:ZG) have been given a consensus rating of “Hold” by the twenty-six ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $71.2381.

A number of equities research analysts have weighed in on ZG shares. Mizuho reduced their price objective on Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Canaccord Genuity Group reduced their price objective on Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zillow Group in a research note on Thursday, May 21st. Sanford C. Bernstein upgraded Zillow Group from an “outperform” rating to a “buy” rating in a research note on Tuesday, May 26th. Finally, UBS Group dropped their target price on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th.

Insiders Place Their Bets

In other news, insider Dan Spaulding sold 3,078 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the transaction, the insider owned 49,696 shares of the company’s stock, valued at approximately $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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, insider Errol G. Samuelson sold 2,939 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total value of $111,593.83. Following the completion of the transaction, the insider directly owned 134,039 shares in the company, valued at approximately $5,089,460.83. The trade was a 2.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC grew its holdings in Zillow Group by 6.7% during the first quarter. NewEdge Advisors LLC now owns 11,071 shares of the technology company’s stock worth $458,000 after acquiring an additional 699 shares during the period. Edgestream Partners L.P. acquired a new position in Zillow Group during the first quarter worth $398,000. EverSource Wealth Advisors LLC grew its holdings in Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after acquiring an additional 637 shares during the period. Empowered Funds LLC grew its holdings in Zillow Group by 60.3% during the first quarter. Empowered Funds LLC now owns 10,060 shares of the technology company’s stock worth $416,000 after acquiring an additional 3,784 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Zillow Group by 106.6% during the first quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company’s stock worth $7,287,000 after acquiring an additional 90,858 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Trading Up 3.0%

Shares of NASDAQ ZG opened at $35.83 on Wednesday. Zillow Group has a twelve month low of $34.50 and a twelve month high of $90.22. The stock has a 50 day moving average of $40.39 and a two-hundred day moving average of $52.43. The stock has a market cap of $8.20 billion, a P/E ratio of 143.32, a P/E/G ratio of 1.49 and a beta of 1.94.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.17 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, research analysts predict that Zillow Group will post 0.9 earnings per share for the current year.

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.