Zillow Group, Inc. (NASDAQ:Z) Receives Average 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%.

Shares of Zillow Group, Inc. (NASDAQ:Z - Get Free Report) have received an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $88.2857.

Z has been the topic of several recent research reports. Bank of America upped their target price on shares of Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th.

Zillow Group Stock Up 4.2%

Shares of Z opened at $89.27 on Friday. Zillow Group has a fifty-two week low of $55.46 and a fifty-two week high of $91.93. The firm's 50 day moving average price is $81.74 and its 200 day moving average price is $73.23. The company has a market cap of $21.63 billion, a P/E ratio of -343.35, a PEG ratio of 8.98 and a beta of 2.04.

Insider Activity

In related news, CTO David A. Beitel sold 22,510 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $90.97, for a total transaction of $2,047,734.70. Following the sale, the chief technology officer directly owned 144,549 shares of the company's stock, valued at $13,149,622.53. This represents a 13.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erik C. Blachford sold 966 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $81.91, for a total transaction of $79,125.06. Following the sale, the director directly owned 34,508 shares in the company, valued at approximately $2,826,550.28. The trade was a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 657,087 shares of company stock worth $56,286,479 over the last 90 days. Company insiders own 25.03% of the company's stock.

Institutional Investors Weigh In On Zillow Group

A number of large investors have recently modified their holdings of the company. L1 Capital Pty Ltd purchased a new stake in shares of Zillow Group in the 2nd quarter valued at approximately $26,651,000. Osaic Holdings Inc. increased its position in shares of Zillow Group by 10.4% in the 2nd quarter. Osaic Holdings Inc. now owns 22,964 shares of the financial services provider's stock valued at $1,606,000 after purchasing an additional 2,163 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Zillow Group by 4.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 101,412 shares of the financial services provider's stock valued at $7,104,000 after buying an additional 4,514 shares during the last quarter. Marex Group plc purchased a new position in shares of Zillow Group in the 2nd quarter valued at $2,031,000. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Zillow Group by 29.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 69,442 shares of the financial services provider's stock valued at $4,870,000 after buying an additional 15,707 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.