Brokerages Set Zillow Group, Inc. (NASDAQ:ZG) PT at $71.24

Zillow Group, Inc. (NASDAQ:ZG) has received a consensus recommendation of “Hold” from the twenty-six analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $69.4286.

A number of analysts have recently commented on ZG shares. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings cut Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Piper Sandler lowered their price target on Zillow Group from $70.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company lowered their price target on Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Finally, KeyCorp lowered their price target on Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th.

Insider Buying and Selling

In other news, General Counsel Bradley D. Owens sold 3,364 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $37.23, for a total value of $125,241.72. Following the completion of the sale, the general counsel directly owned 65,245 shares of the company’s stock, valued at $2,429,071.35. This represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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, CEO Jeremy Wacksman sold 9,072 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the sale, the chief executive officer directly owned 153,699 shares of the company’s stock, valued at approximately $5,616,161.46. This trade represents a 5.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,910 shares of company stock worth $1,605,732 over the last quarter. Insiders own 29.88% of the company’s stock.

Institutional Trading of Zillow Group

Large investors have recently bought and sold shares of the business. Arax Advisory Partners increased its stake in Zillow Group by 402.3% during the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after purchasing an additional 354 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Zillow Group by 78.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 187 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in Zillow Group during the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC increased its stake in Zillow Group by 183.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after purchasing an additional 637 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in Zillow Group by 990.3% during the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after purchasing an additional 921 shares in the last quarter. 20.32% of the stock is owned by institutional investors.

Zillow Group Trading Down 2.5%

Shares of NASDAQ:ZG opened at $32.22 on Wednesday. The stock has a market capitalization of $7.37 billion, a P/E ratio of 128.88, a P/E/G ratio of 1.41 and a beta of 1.94. The business has a 50-day moving average price of $39.93 and a two-hundred day moving average price of $51.81. Zillow Group has a 1-year low of $31.83 and a 1-year high of $90.22.

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

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.