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

Zillow Group, Inc. (NASDAQ:ZG) has been assigned a consensus recommendation of “Hold” from the twenty-six ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $69.4286.

A number of brokerages have recently commented on ZG. Wells Fargo & Company dropped 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. Robert W. Baird reduced their price objective on Zillow Group from $67.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. UBS Group lowered their target price on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Royal Bank Of Canada dropped their target price on Zillow Group to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, June 10th. Finally, Mizuho reduced their price target on Zillow Group from $65.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th.

Insider Transactions at Zillow Group

In other news, CFO Jeremy Hofmann sold 5,501 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $37.40, for a total transaction of $205,737.40. Following the completion of the transaction, the chief financial officer owned 68,315 shares of the company’s stock, valued at approximately $2,554,981. This trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Zillow Group stock in a transaction on Friday, May 22nd. The stock was 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 approximately $5,616,161.46. This trade represents a 5.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 42,910 shares of company stock worth $1,605,732. 29.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors have recently made changes to their positions in ZG. Arax Advisory Partners raised its position in shares of Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after acquiring an additional 354 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings 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 during the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Zillow Group in the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC lifted its position in shares of Zillow Group by 183.6% in 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 during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after purchasing an additional 921 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Trading Down 0.4%

ZG opened at $33.39 on Wednesday. The company has a market cap of $7.64 billion, a P/E ratio of 133.35, a PEG ratio of 1.40 and a beta of 1.95. The company’s 50 day moving average is $39.63 and its 200-day moving average is $51.12. Zillow Group has a 1-year low of $31.83 and a 1-year high of $90.22.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The business had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.17 million. During the same period in the prior year, the company earned $0.41 EPS. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, equities analysts forecast 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.