Zillow Group (NASDAQ:ZG) Stock Price Up 6.9% – Time to Buy?

Zillow Group, Inc. (NASDAQ:ZG) shares rose 6.9% during trading on Wednesday . The company traded as high as $34.02 and last traded at $33.99. 297,240 shares were traded during trading, a decline of 74% from the average daily volume of 1,164,969 shares. The stock had previously closed at $31.80.

Analyst Ratings Changes

ZG has been the topic of several analyst reports. The Goldman Sachs Group dropped their target price on Zillow Group from $53.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. Piper Sandler reduced their price target on shares of Zillow Group from $70.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Cantor Fitzgerald lowered their price target on shares of Zillow Group from $56.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Barclays dropped their price objective on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Finally, Citigroup reissued a “market outperform” rating on shares of Zillow Group in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.48.

Zillow Group Stock Up 5.5%

The firm has a market capitalization of $7.68 billion, a P/E ratio of 134.28, a PEG ratio of 1.37 and a beta of 1.95. The business’s 50 day moving average is $34.92 and its two-hundred day moving average is $45.69.

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

Insider Buying and Selling at Zillow Group

In related news, CEO Jeremy Wacksman sold 9,072 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88. Following the transaction, the chief executive officer owned 153,699 shares in the company, valued at $5,616,161.46. This trade represents a 5.57% 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 transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Hofmann sold 5,501 shares of the company’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 $205,737.40. Following the completion of the sale, the chief financial officer owned 68,315 shares of the company’s stock, valued at $2,554,981. This trade represents a 7.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders have sold 42,910 shares of company stock valued at $1,605,732. 29.88% of the stock is currently owned by company insiders.

Institutional Trading of Zillow Group

Several institutional investors have recently modified their holdings of ZG. M&T Bank Corp lifted its position in shares of Zillow Group by 38,344.0% during 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 acquiring an additional 1,600,097 shares during the last quarter. Polianta Ltd acquired a new position in shares of Zillow Group in the 1st quarter worth $1,494,000. Independent Franchise Partners LLP raised its position in shares of Zillow Group by 1.1% during the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock worth $138,135,000 after purchasing an additional 21,862 shares during the period. Norges Bank acquired a new stake in Zillow Group during the 4th quarter worth about $152,050,000. Finally, Deltroit Asset Management UK LLP purchased a new stake in shares of Zillow Group in the 4th quarter valued at approximately $2,715,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.