Zillow Group, Inc. (NASDAQ:ZG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Zillow Group, Inc. (NASDAQ:ZG) have been assigned an average recommendation of “Moderate Buy” from the thirty brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, fifteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $85.8333.

A number of analysts have recently commented on the stock. UBS Group dropped their target price on shares of Zillow Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Barclays set a $72.00 price objective on shares of Zillow Group and gave the stock an “equal weight” rating in a research note on Thursday, January 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $78.00 target price on shares of Zillow Group in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Finally, Citigroup restated a “market outperform” rating on shares of Zillow Group in a research note on Monday, January 12th.

Zillow Group Stock Down 3.5%

ZG opened at $56.66 on Thursday. Zillow Group has a 52 week low of $55.76 and a 52 week high of $90.22. The stock has a market cap of $13.71 billion, a PE ratio of -404.69, a PEG ratio of 3.40 and a beta of 2.04. The business has a 50 day moving average of $67.95 and a 200-day moving average of $73.12.

Insider Activity

In other Zillow Group news, CEO Jeremy Wacksman sold 10,855 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.99, for a total transaction of $759,741.45. Following the completion of the sale, the chief executive officer directly owned 134,712 shares in the company, valued at approximately $9,428,492.88. This trade represents a 7.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO David A. Beitel sold 3,893 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $71.12, for a total transaction of $276,870.16. Following the completion of the transaction, the chief technology officer owned 140,656 shares in the company, valued at approximately $10,003,454.72. This represents a 2.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 67,511 shares of company stock valued at $4,766,357. 17.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently added to or reduced their stakes in ZG. AQR Capital Management LLC boosted its stake in Zillow Group by 40.5% during the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after purchasing an additional 3,717 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after purchasing an additional 152,955 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Zillow Group by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock valued at $5,878,000 after buying an additional 5,737 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Zillow Group by 3.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,550 shares of the technology company’s stock worth $312,000 after buying an additional 131 shares in the last quarter. Finally, TD Asset Management Inc purchased a new position in Zillow Group in the 2nd quarter worth about $262,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.