Brokerages Set Zillow Group, Inc. (NASDAQ:Z) Target Price at $66.75

Shares of Zillow Group, Inc. (NASDAQ:Z) have earned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $66.75.

Several brokerages have issued reports on Z. JPMorgan Chase & Co. cut their price objective on Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Royal Bank Of Canada decreased their price objective on Zillow Group from $95.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft dropped their price target on Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Evercore downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a research report on Friday, August 7th.

Zillow Group Stock Performance

Shares of NASDAQ Z opened at $35.34 on Friday. Zillow Group has a 1 year low of $29.23 and a 1 year high of $93.88. The firm has a market cap of $7.95 billion, a P/E ratio of 160.64, a PEG ratio of 1.51 and a beta of 2.00. The stock has a fifty day moving average price of $33.76 and a two-hundred day moving average price of $38.10.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The company had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $758.10 million. On average, research analysts predict that Zillow Group will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, CAO Jennifer Rock sold 990 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $33,897.60. Following the transaction, the chief accounting officer directly owned 58,752 shares of the company’s stock, valued at approximately $2,011,668.48. This trade represents a 1.66% decrease in their ownership of the stock. 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, insider Errol G. Samuelson sold 3,154 shares of Zillow Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $107,992.96. Following the completion of the sale, the insider owned 130,885 shares of the company’s stock, valued at $4,481,502.40. This trade represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 37,351 shares of company stock worth $1,280,657. 25.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently made changes to their positions in the stock. Independent Franchise Partners LLP lifted its stake in shares of Zillow Group by 0.9% during the fourth quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock worth $747,241,000 after buying an additional 94,569 shares during the period. Capital World Investors raised its holdings in shares of Zillow Group by 1.8% during the 4th quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock worth $738,554,000 after acquiring an additional 191,058 shares during the period. Tiger Global Management LLC boosted its position in shares of Zillow Group by 21.7% during the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after acquiring an additional 1,312,000 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Zillow Group by 1,877.4% during the 2nd quarter. California State Teachers Retirement System now owns 5,533,431 shares of the financial services provider’s stock valued at $175,553,000 after acquiring an additional 5,253,603 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Zillow Group by 3.9% in the fourth quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock valued at $261,882,000 after purchasing an additional 143,726 shares during the period. Institutional investors own 71.01% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.