Analysts Set Zillow Group, Inc. (NASDAQ:Z) PT at $88.29

Key Points

• Zillow Group, Inc. has received an average rating of "Hold" from thirteen analysts, with eight holding a "hold," four a "buy," and one a "strong buy."
• The average 12-month price target for Zillow Group shares among brokerages is $88.29, following various analysts' updates.
• Recent insider activity includes significant stock sales by COO Jun Choo and insider Dan Spaulding, with the latter reducing their position by 59.21%.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) has received a consensus recommendation of "Hold" from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $88.2857.

A number of brokerages have weighed in on Z. Wedbush reissued an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a research note on Monday, May 5th. JPMorgan Chase & Co. increased their price target on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Bank of America increased their price target on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Keefe, Bruyette & Woods reduced their price target on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company raised Zillow Group to a "hold" rating in a research note on Monday, April 28th.

Zillow Group Price Performance

NASDAQ:Z traded down $2.40 during trading hours on Monday, reaching $81.10. 1,986,421 shares of the company traded hands, compared to its average volume of 2,667,293. The firm's 50-day moving average is $76.49 and its 200-day moving average is $72.75. The stock has a market cap of $19.65 billion, a P/E ratio of -311.92, a P/E/G ratio of 15.91 and a beta of 2.09. Zillow Group has a 1-year low of $52.86 and a 1-year high of $89.39.

Insiders Place Their Bets

In related news, insider Dan Spaulding sold 100,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $85.91, for a total value of $8,591,000.00. Following the transaction, the insider directly owned 68,889 shares of the company's stock, valued at approximately $5,918,253.99. This trade represents a 59.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeremy Wacksman sold 11,275 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $85.73, for a total value of $966,605.75. Following the completion of the transaction, the chief executive officer directly owned 153,113 shares in the company, valued at $13,126,377.49. This trade represents a 6.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 580,379 shares of company stock worth $49,319,729. Corporate insiders own 23.76% of the company's stock.

Institutional Trading of Zillow Group

Several large investors have recently added to or reduced their stakes in Z. Vanguard Group Inc. increased its holdings in Zillow Group by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 22,589,955 shares of the financial services provider's stock valued at $1,548,767,000 after purchasing an additional 1,628,577 shares in the last quarter. Eminence Capital LP grew its stake in shares of Zillow Group by 63.6% during the second quarter. Eminence Capital LP now owns 3,978,731 shares of the financial services provider's stock valued at $278,710,000 after acquiring an additional 1,546,577 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Zillow Group during the second quarter valued at about $57,021,000. Ninety One UK Ltd grew its stake in shares of Zillow Group by 17.4% during the second quarter. Ninety One UK Ltd now owns 4,731,948 shares of the financial services provider's stock valued at $331,473,000 after acquiring an additional 702,445 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of Zillow Group during the fourth quarter valued at about $51,835,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Company Profile

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.