Zillow Group, Inc. (NASDAQ:Z) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Zillow Group, Inc. has received an average rating of "Moderate Buy" from analysts, with a target price of $88.29 based on the latest ratings.
• The company's shares have shown >a 4.2% increase, with a current trading price of $89.27 and a market cap of $21.63 billion.
• Insider trading activity reveals that CTO David A. Beitel sold 22,510 shares valued at over $2 million, decreasing his ownership by 13.47%.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $90.3750.

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein raised Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price target on the stock in a research report on Wednesday. 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 report on Thursday, August 7th. Finally, 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 report on Thursday, August 7th.

Insider Buying and Selling at Zillow Group

In other news, Chairman Richard N. Barton sold 200,000 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $84.92, for a total transaction of $16,984,000.00. Following the transaction, the chairman owned 843,248 shares of the company's stock, valued at approximately $71,608,620.16. This represents a 19.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David A. Beitel sold 22,510 shares of the company'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 owned 144,549 shares of the company's stock, valued at $13,149,622.53. This trade represents a 13.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 657,087 shares of company stock worth $56,286,479. Insiders own 25.03% of the company's stock.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in Z. Ethic Inc. raised its stake in shares of Zillow Group by 13.3% in the fourth quarter. Ethic Inc. now owns 8,827 shares of the financial services provider's stock worth $654,000 after purchasing an additional 1,037 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in Zillow Group by 9.4% during the fourth quarter. Ensign Peak Advisors Inc now owns 58,258 shares of the financial services provider's stock worth $4,314,000 after buying an additional 5,000 shares in the last quarter. Gotham Asset Management LLC purchased a new position in Zillow Group during the fourth quarter worth approximately $442,000. NorthRock Partners LLC purchased a new position in Zillow Group during the fourth quarter worth approximately $437,000. Finally, Nomura Holdings Inc. raised its position in Zillow Group by 254.6% in the fourth quarter. Nomura Holdings Inc. now owns 38,460 shares of the financial services provider's stock valued at $2,848,000 after purchasing an additional 27,613 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Stock Performance

Zillow Group stock traded up $1.77 during mid-day trading on Friday, hitting $90.32. The company's stock had a trading volume of 5,184,223 shares, compared to its average volume of 2,378,289. The company has a 50 day moving average of $82.96 and a 200-day moving average of $73.54. The stock has a market cap of $21.88 billion, a PE ratio of -347.38, a P/E/G ratio of 24.66 and a beta of 2.04. Zillow Group has a one year low of $57.00 and a one year high of $93.88.

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.