Zillow Group, Inc. (NASDAQ:ZG) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Zillow Group, Inc. has received a consensus rating of "Moderate Buy" from 27 analysts, with an average 12-month target price of $86.78.
• Recent insider activity includes the sale of 25,000 shares by CFO Jeremy Hofmann and 200,000 shares by Chairman Richard N. Barton, indicating a 22.91% and 19.17% decrease in their positions, respectively.
• The company's latest quarterly earnings reported a net margin of -2.60%, with revenue up 14.5% year-over-year, but earnings per share missed estimates by $0.04.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-seven analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $86.7826.

ZG has been the subject of a number of recent research reports. Sanford C. Bernstein raised shares of Zillow Group from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $75.00 to $105.00 in a research note on Wednesday, September 17th. Wells Fargo & Company dropped their price objective on shares of Zillow Group from $75.00 to $73.00 and set an "equal weight" rating for the company in a research note on Thursday, September 11th. Mizuho initiated coverage on shares of Zillow Group in a research note on Monday. They issued an "outperform" rating and a $100.00 price objective for the company. Piper Sandler lifted their price objective on shares of Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Susquehanna reissued a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th.

Insider Activity

In related news, CFO Jeremy Hofmann sold 25,000 shares of Zillow Group stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the completion of the sale, the chief financial officer owned 84,146 shares in the company, valued at $7,572,298.54. This trade represents a 22.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard N. Barton sold 200,000 shares of Zillow Group stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $84.92, for a total transaction of $16,984,000.00. Following the sale, the chairman owned 843,248 shares of the company's stock, valued at $71,608,620.16. The trade was a 19.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 657,087 shares of company stock worth $56,286,479 in the last 90 days. Company insiders own 17.14% of the company's stock.

Institutional Investors Weigh In On Zillow Group

Large investors have recently modified their holdings of the business. National Bank of Canada FI lifted its position in Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after acquiring an additional 216 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in Zillow Group during the 1st quarter valued at approximately $42,000. CX Institutional acquired a new position in Zillow Group during the 1st quarter valued at approximately $46,000. PNC Financial Services Group Inc. increased its stake in Zillow Group by 33.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after purchasing an additional 280 shares in the last quarter. Finally, Lavaca Capital LLC increased its stake in Zillow Group by 67.0% during the 2nd quarter. Lavaca Capital LLC now owns 1,670 shares of the technology company's stock valued at $114,000 after purchasing an additional 670 shares in the last quarter. Institutional investors own 20.32% of the company's stock.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $72.46 on Friday. The company has a market cap of $17.55 billion, a P/E ratio of -278.69, a P/E/G ratio of 19.82 and a beta of 2.11. The firm's fifty day moving average is $80.19 and its two-hundred day moving average is $72.07. Zillow Group has a 52-week low of $55.08 and a 52-week high of $90.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The company had revenue of $655.00 million during the quarter, compared to the consensus estimate of $647.06 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business's revenue was up 14.5% on a year-over-year basis. As a group, analysts forecast that Zillow Group will post 0.32 EPS for the current fiscal year.

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.