Zillow Group, Inc. (NASDAQ:ZG) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on Zillow Group, with 13 hold, 11 buy and one sell rating among 25 firms. The average 12-month price target is $53.14.
• Zillow shares opened at $30.66, near their 52-week low of $29.03 and below both the 50-day and 200-day moving averages. The stock has a market capitalization of approximately $6.89 billion.
• The company exceeded quarterly expectations, reporting EPS of $0.52 versus $0.44 expected and revenue of $772 million, up 17.9% year over year. Hedge funds increased exposure, while insiders sold shares primarily to cover tax obligations on vested equity awards.

Shares of Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-five ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $53.1364.

ZG has been the subject of a number of research analyst reports. Citizens Jmp decreased their price objective on shares of Zillow Group from $75.00 to $46.00 and set a "market outperform" rating for the company in a report on Friday, August 7th. Piper Sandler dropped their target price on shares of Zillow Group from $55.00 to $46.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. BTIG Research reaffirmed a "neutral" rating on shares of Zillow Group in a research report on Thursday, June 11th. Benchmark reaffirmed a "buy" rating on shares of Zillow Group in a research note on Monday, August 24th. Finally, Evercore set a $40.00 price target on Zillow Group and gave the company an "in-line" rating in a report on Thursday, August 6th.

Insider Activity at Zillow Group

In other Zillow Group news, insider Errol Samuelson sold 3,154 shares of Zillow Group stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $107,992.96. Following the completion of the sale, the insider directly owned 130,885 shares of the company's stock, valued at $4,481,502.40. The trade was a 2.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,169 shares of the company's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the sale, the insider owned 44,561 shares of the company's stock, valued at $1,576,122.57. This represents a 6.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 38,539 shares of company stock worth $1,323,800 over the last three months. Corporate insiders own 29.88% of the company's stock.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently modified their holdings of the business. Technology Crossover Management XI Ltd. purchased a new position in Zillow Group during the second quarter valued at approximately $73,694,895. Norges Bank purchased a new stake in Zillow Group during the fourth quarter worth $152,050,000. Kahn Brothers Group Inc. purchased a new stake in Zillow Group during the second quarter worth $37,265,000. Hsbc Holdings PLC boosted its position in Zillow Group by 1,616.8% during the 1st quarter. Hsbc Holdings PLC now owns 135,352 shares of the technology company's stock valued at $5,602,000 after acquiring an additional 127,468 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in Zillow Group by 106.6% during the 1st quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company's stock valued at $7,287,000 after acquiring an additional 90,858 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company's stock.

Zillow Group Stock Down 4.2%

ZG opened at $30.66 on Friday. The business has a fifty day moving average of $34.20 and a 200 day moving average of $37.46. The stock has a market cap of $6.89 billion, a P/E ratio of 139.37, a PEG ratio of 1.39 and a beta of 1.97. Zillow Group has a 52-week low of $29.03 and a 52-week high of $87.37.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. The firm had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business's revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. Equities analysts anticipate that Zillow Group will post 0.89 EPS for the current fiscal year.

About Zillow Group

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers and real estate professionals. Its flagship Zillow platform provides property listings, home-value estimates, neighborhood information, mortgage resources and tools that help people buy, sell, rent and finance homes.

The company's portfolio also includes Trulia, StreetEasy, HotPads and Zillow Rentals, which serve home shoppers and renters in markets across the United States.

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