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

Shares of Zillow Group, Inc. (NASDAQ:ZG) have been assigned a consensus recommendation of “Hold” from the twenty-seven brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $77.0455.

Several equities research analysts have recently commented on ZG shares. Piper Sandler restated an “overweight” rating and set a $70.00 price objective (down from $85.00) on shares of Zillow Group in a report on Wednesday, February 11th. Citizens Jmp cut their target price on Zillow Group from $90.00 to $85.00 and set a “market outperform” rating on the stock in a report on Monday, January 12th. Benchmark reissued a “buy” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Sanford C. Bernstein decreased their price target on shares of Zillow Group from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. Finally, DA Davidson set a $75.00 price objective on shares of Zillow Group in a report on Thursday, February 12th.

Insider Activity at Zillow Group

In related news, CTO David A. Beitel sold 3,966 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $44.22, for a total value of $175,376.52. Following the sale, the chief technology officer owned 136,690 shares in the company, valued at $6,044,431.80. This represents a 2.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeremy Wacksman sold 13,661 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total transaction of $604,499.25. Following the completion of the transaction, the chief executive officer directly owned 116,322 shares in the company, valued at approximately $5,147,248.50. The trade was a 10.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,801 shares of company stock valued at $2,683,986 over the last quarter. 17.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ZG. Norges Bank purchased a new position in shares of Zillow Group during the second quarter valued at approximately $159,770,000. Independent Franchise Partners LLP raised its position in Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after buying an additional 21,862 shares during the last quarter. M&T Bank Corp raised its position in Zillow Group by 38,344.0% in the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after buying an additional 1,600,097 shares during the last quarter. Tiger Global Management LLC lifted its stake in Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after acquiring an additional 240,690 shares in the last quarter. Finally, UBS Group AG lifted its stake in Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after acquiring an additional 313,643 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Price Performance

ZG stock opened at $42.04 on Friday. The company’s 50-day moving average is $50.81 and its 200-day moving average is $64.62. The stock has a market capitalization of $10.09 billion, a PE ratio of 467.16, a price-to-earnings-growth ratio of 2.43 and a beta of 2.05. Zillow Group has a 1 year low of $40.69 and a 1 year high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The firm had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts anticipate that Zillow Group will post 0.32 earnings per share for the current fiscal 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.