Zillow Group, Inc. (NASDAQ:Z) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Zillow Group, Inc. has received an average rating of "Moderate Buy" from analysts, with 16 covering the stock; the average one-year price target is $90.38.
• Insider trading activity includes significant stock sales by CTO David Beitel and COO Jun Choo, with Beitel selling over 22,000 shares and Choo selling over 25,000 shares recently.
• Institutional investors own 71.01% of Zillow Group's shares, with recent acquisitions including a new stake by L1 Capital worth approximately $26.65 million.

Shares of Zillow Group, Inc. (NASDAQ:Z - Get Free Report) have earned an average rating of "Moderate Buy" from the sixteen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $90.3750.

Several analysts have recently issued reports on Z shares. Sanford C. Bernstein upgraded Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price objective on the stock in a research note on Wednesday, September 17th. Oppenheimer started coverage on Zillow Group in a research note on Monday. They issued a "market perform" rating on the stock. Bank of America increased their price objective on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zillow Group in a research note on Saturday, September 27th. Finally, Mizuho upgraded Zillow Group to a "strong-buy" rating in a research note on Monday, September 29th.

Insiders Place Their Bets

In other Zillow Group news, CTO David A. Beitel sold 22,510 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $90.97, for a total value of $2,047,734.70. Following the sale, the chief technology officer directly owned 144,549 shares in the company, valued at $13,149,622.53. This trade represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jun Choo sold 25,575 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $91.06, for a total value of $2,328,859.50. Following the completion of the sale, the chief operating officer owned 114,129 shares in the company, valued at approximately $10,392,586.74. This represents a 18.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 657,087 shares of company stock valued at $56,286,479. 25.03% of the stock is owned by company insiders.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. L1 Capital Pty Ltd acquired a new stake in shares of Zillow Group during the second quarter worth about $26,651,000. Osaic Holdings Inc. increased its position in shares of Zillow Group by 10.4% during the second quarter. Osaic Holdings Inc. now owns 22,964 shares of the financial services provider's stock worth $1,606,000 after purchasing an additional 2,163 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Zillow Group by 4.7% during the second quarter. Thrivent Financial for Lutherans now owns 101,412 shares of the financial services provider's stock worth $7,104,000 after purchasing an additional 4,514 shares in the last quarter. Marex Group plc acquired a new stake in shares of Zillow Group during the second quarter worth about $2,031,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Zillow Group by 29.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 69,442 shares of the financial services provider's stock worth $4,870,000 after purchasing an additional 15,707 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Zillow Group Stock Down 3.6%

Z opened at $74.00 on Tuesday. Zillow Group has a 52 week low of $57.00 and a 52 week high of $93.88. The business has a fifty day simple moving average of $83.03 and a 200-day simple moving average of $74.21. The firm has a market cap of $17.93 billion, a P/E ratio of -284.62, a P/E/G ratio of 21.38 and a beta of 2.13.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.

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