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

Key Points

• Zillow Group has a consensus analyst rating of “Hold” from 26 brokerages, with 13 buy ratings, 12 hold ratings, and 1 sell rating. The average 12-month price target is about $69.43.
• Recent analyst action has been mixed, with some firms cutting targets while others remain constructive. Notably, Robert W. Baird and Mizuho lowered their price objectives, while Sanford C. Bernstein upgraded Zillow to buy.
• Company insiders have been selling shares, including recent transactions by Dan Spaulding and Erik C. Blachford. Despite that, Zillow’s latest earnings beat expectations, reporting $0.53 EPS versus $0.43 expected and revenue growth of 18.4% year over year.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) has earned an average recommendation of "Hold" from the twenty-six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $69.4286.

Several research firms have commented on ZG. Robert W. Baird decreased their target price on shares of Zillow Group from $67.00 to $55.00 and set a "neutral" rating on the stock in a report on Wednesday, March 18th. Royal Bank Of Canada cut their price target on shares of Zillow Group to $70.00 and set an "outperform" rating for the company in a report on Wednesday, June 10th. Mizuho reduced their price target on shares of Zillow Group from $65.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Sanford C. Bernstein raised shares of Zillow Group from an "outperform" rating to a "buy" rating in a research note on Tuesday, May 26th. Finally, UBS Group lowered their price objective on shares of Zillow Group from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, April 28th.

Insider Transactions at Zillow Group

In other news, insider Dan Spaulding sold 3,078 shares of Zillow Group stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the transaction, the insider owned 49,696 shares in the company, valued at approximately $1,858,630.40. This trade represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Erik C. Blachford sold 791 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $34.80, for a total value of $27,526.80. Following the sale, the director owned 34,952 shares of the company's stock, valued at approximately $1,216,329.60. This represents a 2.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 42,910 shares of company stock worth $1,605,732. 29.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in the stock. Arax Advisory Partners increased its position in Zillow Group by 402.3% during the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company's stock worth $30,000 after purchasing an additional 354 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in Zillow Group in the fourth quarter valued at approximately $34,000. Kestra Advisory Services LLC bought a new stake in shares of Zillow Group during the fourth quarter worth $47,000. Quarry LP bought a new stake in shares of Zillow Group during the fourth quarter worth $56,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Zillow Group by 4,130.0% during the fourth quarter. Global Retirement Partners LLC now owns 846 shares of the technology company's stock worth $58,000 after buying an additional 826 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Performance

NASDAQ:ZG opened at $33.42 on Friday. The stock has a fifty day moving average price of $36.64 and a 200-day moving average price of $47.57. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 133.68, a PEG ratio of 1.43 and a beta of 1.95. Zillow Group has a fifty-two week low of $29.03 and a fifty-two week high of $90.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to analysts' expectations of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.Zillow Group's revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. Research analysts predict that Zillow Group will post 0.9 EPS for the current fiscal year.

About Zillow Group

Zillow Group NASDAQ: ZG is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow's core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.

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